Pension Pick-up. Effective throughout the life of this Agreement, the City shall pay one percentage (1%) point of the employee's state-mandated contribution to the Police and Fireman's Pension Fund. The remaining portion of the employee's contribution shall be paid by the employee. However, the City shall "shelter" members pension contribution for personal income tax purposes.
Pension Pick-up. The City will continue to provide a pension pick-up plan, whereby employee contributions will be made from pre-tax earnings, as long as it continues to be permitted by the Internal Revenue Service Code.
Pension Pick-up. Effective the first full pay period on or after adoption of this MOU by the Board of Supervisors (June 25, 2013), The County will cease providing the one percent (1%) pick up of the employee’s share towards Retirement.
Pension Pick-up. The Board shall continue to pay the faculty member's state-mandated contribution (currently at 8%) to the State Universities Retirement System (SURS) out of the faculty member's salary as set forth herein.
Pension Pick-up. The full amount of the statutorily required member contribution to the Ohio Police and Fire Pension Fund (“Fund”) shall be withheld from the gross pay of members and shall be "picked-up" by the Employer and shall be in lieu of contributions to the Fund by each member. No member subject to this "pick-up" shall have the option of choosing to receive the statutorily required member contribution to the Fund instead of having it "picked-up" by the Employer or of being excluded from the "pick-up". The parties agree that the Employer will not incur any additional costs in the deferment of said federal and state income taxes. Should the Rules and Regulations of the Internal Revenue Service or the Fund change, making this procedure unworkable, the parties agree to return to the former contribution method followed by the Employer.
Pension Pick-up. Section 1 – Pension Pick-Up – The City agrees to “pick-up” the statutorily required contribution to the applicable pension fund by the salary reduction method that the individual employee has been paying pursuant to present Federal and Ohio laws. Allowing employees to contribute in this manner will result in a deferral of federal and state income taxes on a portion of their wages and a reduction in taxable income.
Pension Pick-up. Effective throughout the life of this Agreement, the City shall pay one percentage (1%) point of the employee's state mandated contribution to Ohio Public Employees Retirement System (OPERS). The remaining portion of the employee's contribution shall be paid by the employee. However, the City shall "shelter" members pension contribution for personal income tax purposes.
Pension Pick-up. The Township will maintain a fringe benefit "pick-up" of the member contribution to the Public Employees Retirement System (Law Enforcement) (hereinafter referred to as "PERS-LE") under the following terms and conditions:
Pension Pick-up. 9.1.1 The County agrees to continue Employer Paid Member Contributions (EPMC) for a portion of the Tier 1 and Tier 2 employees’ contribution to the Pension Trust whereby the County will pay nine and twenty-nine hundredths percent (9.29%) of the pensionable wages to the County’s Retirement System on behalf of each such employee. As set forth in the Retirement Plan, the EPMC amount is pensionable income.
Pension Pick-up. Pursuant to this Section, a portion of the contribution made by the employee to the Police and Fireman’s Disability and Pension Fund (“the Fund”), such portion being equal to six percent (6%) of the employee’s earned compensation, shall be picked up (assumed and paid) on behalf of the employee by the City, and in lieu of payment by the employee. The remaining portion of the employee contribution shall continue to be paid by the employee.
