PERS Employee Contribution. IV.A.1.a. The City's contribution to PERS on behalf of all affected employees shall be nine percent (9.0%).
PERS Employee Contribution. IV.A.1.a. Effective July 1, 2003, the City has a contract with the Public Employees Retirement System (PERS) to provide safety employees with a 3% @ 55 retirement plan in accordance with Section 21362.1, 21363.1 of the California Government Code. As a result of the Public Employee’s Pension Reform Act (PEPRA), effective January 1, 2013, this retirement plan will only be applicable to employees identified by PERS as Classic Members (generally employees who became members of PERS prior to January 1, 2013).
PERS Employee Contribution. The County of Yuba and YCEA negotiated a contract, which amended the County’s local Miscellaneous Members’ Contract under Section 20516 for Local Miscellaneous Classic and PEPRA New members beginning in 2015. The result of these amendments over time is an agreement that the members will pay an additional 2% toward the Employer contribution effective July 1, 2019.
PERS Employee Contribution. V.A.1.a Effective December 22, 2013, the City ceased paying the 9% employee contribution to the Public Employees Retirement System ( PERS) for employees identified by PERS as Classic Members (generally employees who became members of PERS prior to January 1, 2013). Each Classic Member employee shall be responsible for paying the full 9% employee share of PERS contributions, with state and federal income tax on the PERS member contribution deferred to the extent permitted by Internal Revenue Code, 26 USC Section 4.14(h)(2). As a result of and in accordance with the Public Employees’ Pension Reform Act (PEPRA), employees identified as New Members by PERS (generally employees who became members of PERS on or after January 1, 2013) are required to pay a member contribution equal to one- half of the normal cost rate. The City shall not pay for any portion of the employee contribution in accordance with Section 7522.30 (c) of the California Government Code. As of the date of this contract, the member contribution for New Members is 10.25% and is subject to change by PERS.
PERS Employee Contribution. The District will allow each eligible employee through payroll deduction to make his/her employee contribution to PERS with pre-tax dollars subject to state and federal law and tax codes.
