CalPERS MISCELLANEOUS EMPLOYEES Sample Clauses

CalPERS MISCELLANEOUS EMPLOYEES. The County shall continue all eligible miscellaneous employees (hired prior to May 8, 2011) under CalPERS the 2% @ age 55 service retirement formula. The County shall pay the full share of the employer contributions associated with this formula as determined by XxxXXXX. The County amended its contract with CalPERS effective May 8, 2011 so that all newly hired employees between that date and January 1, 2013 are enrolled in the 2% @ age 60 service retirement formula. Employees hired on January 1, 2013 and thereafter shall be enrolled in the 2% @ age 62 formula or the 2% @ age 60 formula as determined by CalPERSin compliance with California state law.
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CalPERS MISCELLANEOUS EMPLOYEES. The County shall continue to provide all eligible miscellaneous employees the 2% @ age 55 PERS retirement formula. The County shall pay all of the employer contributions associated with this formula as determined by XxxXXXX. New hires as of May 8, 2011 through December 31, 2012 are covered by a 2% @ 60 formula. New Employees hired on and after January 1, 2013 are covered by a 2% @ 62 formula and subject to the provisions of PEPRA in State law.
Sample 1

Related to CalPERS MISCELLANEOUS EMPLOYEES

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