CALPERS CONTRACT Clause Samples

CALPERS CONTRACT. The City will continue to provide pension benefits to represented employees in accordance with the CalPERS contract in effect on the effective date of this MOU. The City's contract with CalPERS for employees covered by this MOU includes the following options: • Section 20042 (One Year Final Compensation, only applies to classic member employees) • Section 20516 (Employee Cost Share, only applies to classic member employees) • Section 20965 (Credit for Unused Sick Leave) • Sections 21624/ (Post-Retirement Survivor Allowance, only applies classic member 21626 employees) • Section 21620 (Retired Death Benefit of $500) • Section 21329 (COLA of 2%) • Section 21362.2 (3% @ 50 Benefit Formula, only applies to classic member employees) • Section 20903 (Two Years Additional Service – Golden Handshake) • Section 21635 (Post-Retirement Survivor Allowance Continues After Remarriage) • Section 21573 (Third Level of 1959 Survivor Benefits) • Section 21551 (Death Benefit Continues After Remarriage) • Section 20055 (Credit for Service Before CalPERS Contract) • Section 20938 (Limited Prior Service Credit to Employees on Contract Date) • Section 21536 (Local System Service Credit for Basic Death Benefit) • Section 20481 (Transfer of Local System Assets to CalPERS) • Section 21024 (Military Stats 76) • Section 21023.5 (Peace Corps/AmeriCorps Service) • Section 21027 (Military Retiree) • IRC 414(h)(2) (Pre-tax payroll deduction plan for member contributions and service credit purchase)
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CALPERS CONTRACT. The City will continue to provide pension benefits to represented employees in accordance with the CalPERS contract in effect on the effective date of this MOU. The City's contract with CalPERS for fire safety employees includes the following options:
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CALPERS CONTRACT. The City will continue to provide pension benefits to represented employees in accordance with the CalPERS contract in effect on the effective date of this MOU. The City's contract with CalPERS for fire safety employees includes the following options: • Section 20042 (One Year Final Compensation) • Section 20965 (Credit for Unused Sick Leave) • Sections 21624/21626 (Post-Retirement Survivor Allowance) • Section 21620 (Retired Death Benefit of $500) • Section 21329 (COLA of 2%) • Section 20903 (Two Years Additional Service – Golden Handshake) • Section 21031 (Purchase of Prior Service Credit) • Section 21635 (Post-Retirement Survivor Allowance Continues After Remarriage) • Section 21573 (Third Level of 1959 Survivor Benefits) • Section 21551 (Death Benefit Continues After Remarriage) • Section 20055 (Credit for Service Before CalPERS Contract) • Section 20938 (Limited Prior Service Credit to Employees on Contract Date) • Section 21536 (Local System Service Credit for Basic Death Benefit) • Section 20481 (Transfer of Local System Assets to CalPERS) • Section 21427 (Disability Retirement - Maximum 50% of Final Compensation)
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CALPERS CONTRACT. The CITY shall contract with the state California Public Employees Retirement System (hereinafter referred to as CalPERS) to provide retirement benefits. The cost of CalPERS Retirement benefits is set by CalPERS and includes two rates: 1.) The Employer Contribution Rate, paid entirely by the CITY. CalPERS reviews The Employer rates yearly and may adjust rates based on actuarial valuation. 2.) The Member (employee) Contribution Rate of seven percent (7%). Each and every affected employee, through payroll deduction, pays half (3.5%) of the 7% CalPERS Employee Contribution Rate and the CITY pays three and a half percent (3.5%), referred to as the Employer Paid Member Contribution (EPMC). (a) Effective July 2, 2017, the first full pay period (July 2 -15) in fiscal year 2017- 2018: (i) Each “Classic Member” through payroll deduction shall pay the additional 3.5% of EPMC for a total Member Contribution Rate of 7%. (ii) Each “PEPRA Member” through payroll deduction shall pay the additional 3.375% of EPMC for a total Member Contribution Rate of 6.75%
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CALPERS CONTRACT. 10 B. THE PUBLIC EMPLOYEE PENSION REFORM ACT (PEPRA)......................... 10 C. CLASSIC CALPERS MEMBERS........................................................................ 11 D. PEPRA CALPERS MEMBERS........................................................................... 11 E. AB 1222 PEPRA EXEMPTION FOR TRANSIT EMPLOYEES........................... 12
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CALPERS CONTRACT. The CITY shall contract with the state California Public Employees Retirement System (CalPERS) to provide retirement benefits. The cost of CalPERS Retirement benefits is based on formulas set by CalPERS and includes two rates: 1) The Employer Contribution Rate, paid entirely by the CITY, unless there is an agreement to cost- share. CalPERS reviews the Employer rates yearly and may adjust rates based on actuarial valuation. 2) The Member (employee) Contribution Rate, paid entirely by the employee through payroll deduction. The full Member (employee) Contribution Rate shall be set by ▇▇▇▇▇▇▇. 3) Each Member through a payroll deduction shall pay the Member (employee) Contribution Rate as set by ▇▇▇▇▇▇▇ and an additional retirement contribution percentage, as outlined in Article 2, Section 1, B. Salary Adjustments, as cost sharing. The cost sharing contribution shall be paid by the employee on a pre-tax basis up to the extent permitted by the law.
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Related to CALPERS CONTRACT

  • Gas Contracts No Credit Party, as of the date hereof or as disclosed to the Administrative Agent in writing, (a) is obligated in any material respect by virtue of any prepayment made under any contract containing a “take-or-pay” or “prepayment” provision or under any similar agreement to deliver Hydrocarbons produced from or allocated to any of the Borrower’s and its Subsidiaries’ Oil and Gas Properties at some future date without receiving full payment therefor at the time of delivery or (b) except as has been disclosed to the Administrative Agent, has produced gas, in any material amount, subject to balancing rights of third parties or subject to balancing duties under Legal Requirements.

  • Service Contracts (a) The Trustees may, at any time and from time to time, contract for exclusive or nonexclusive advisory, management and/or administrative services for the Trust or for any Series with any Person; and any such contract may contain such other terms as the Trustees may determine, including without limitation, authority for the Investment Adviser to determine from time to time without prior consultation with the Trustees what investments shall be purchased, held, sold or exchanged and what portion, if any, of the assets of the Trust shall be held uninvested and to make changes in the Trust's investments, and such other responsibilities as may specifically be delegated to such Person. (b) The Trustees may also, at any time and from time to time, contract with any Persons, appointing such Persons exclusive or nonexclusive distributor or Principal Underwriter for the Shares of one or more of the Series or other securities to be issued by the Trust. Every such contract may contain such other terms as the Trustees may determine. (c) The Trustees are also empowered, at any time and from time to time, to contract with any Persons, appointing such Person(s) to serve as custodian(s), transfer agent and/or shareholder servicing agent for the Trust or one or more of its Series. Every such contract shall comply with such terms as may be required by the Trustees. (d) The Trustees are further empowered, at any time and from time to time, to contract with any Persons to provide such other services to the Trust or one or more of the Series, as the Trustees determine to be in the best interests of the Trust and the applicable Series. (e) The fact that: (i) any of the Shareholders, Trustees, or officers of the Trust is a shareholder, director, officer, partner, trustee, employee, Manager, adviser, Principal Underwriter, distributor, or affiliate or agent of or for any Person with which an advisory, management or administration contract, or Principal Underwriter's or distributor's contract, or transfer, shareholder servicing or other type of service contract may be made, or that (ii) any Person with which an advisory, management or administration contract or Principal Underwriter's or distributor's contract, or transfer, shareholder servicing or other type of service contract may be made also has an advisory, management or administration contract, or principal underwriter's or distributor's contract, or transfer, shareholder servicing or other service contract, or has other business or interests with any other Person, shall not affect the validity of any such contract or disqualify any Shareholder, Trustee or officer of the Trust from voting upon or executing the same, or create any liability or accountability to the Trust or its Shareholders, provided approval of each such contract is made pursuant to the applicable requirements of the 1940 Act.

  • Project Contracts Prior to the delivery of this Lease, the Company may have entered into a contract or contracts with respect to the acquisition and/or construction of the Improvements. Those contracts, and any such contracts entered into by the Company after delivery of this Lease are hereinafter referred to as the “Project Contracts.” Prior to the delivery hereof, certain work has been or may have been performed on the Improvements pursuant to said Project Contracts or otherwise. Subject to the Lender’s rights in the Project Contracts, the Company hereby conveys, transfers and assigns to the Issuer all of the Company’s rights in, but not its obligations under the Project Contracts and the Issuer hereby designates the Company as Issuer’s agent for the purpose of executing and performing the Project Contracts. After the execution hereof, the Company shall cause the Project Contracts to be fully performed by the contractor(s), subcontractor(s) and supplier(s) thereunder in accordance with the terms thereof, and the Company covenants to cause the Improvements to be acquired, constructed and/or completed in accordance with the Project Contracts. Any and all amounts received by the Issuer, the Trustee or the Company from any of the contractors or other suppliers by way of breach of contract, refunds or adjustments shall become a part of and be deposited in the Project Fund.

  • New Contracts Except as provided in Section 6.1.4, Seller will not enter into any contract that will be an obligation affecting the Property subsequent to the Closing, except contracts entered into in the ordinary course of business that are terminable without cause and without the payment of any termination penalty on not more than 30 days’ prior notice.

  • Assigned Contracts Each Credit Party will secure all consents and approvals necessary or appropriate for the assignment to or for the benefit of Agent of any Assigned Contract and to enforce the security interests granted hereunder. Each Credit Party shall fully perform all of its obligations under each of its Assigned Contracts, and shall enforce all of its rights and remedies thereunder, in each case, as it deems appropriate in its business judgment. Such Credit Party shall notify Agent in writing, promptly after such Credit Party becomes aware thereof, of any event or fact which could give rise to a material claim by it for indemnification under any of its Assigned Contracts. If an Event of Default then exists, Agent may, and at the direction of Required Lenders shall, directly enforce such right in its own or such Credit Party’s name and may enter into such settlements or other agreements with respect thereto as Agent shall determine. In any suit, proceeding or action brought by Agent under any Assigned Contract for any sum owing thereunder or to enforce any provision thereof, the Credit Parities shall indemnify and hold Agent and Lenders harmless from and against all expense, loss or damage suffered by reason of any defense, setoff, counterclaims, recoupment, or reduction of liability whatsoever of the obligor thereunder arising out of a breach by such Credit Party of any obligation thereunder or arising out of any other agreement, indebtedness or liability at any time owing from the Credit Parties to or in favor of such obligor or its successors, except for such expenses, damages or losses resulting from Agent’s or any Lender’s gross negligence or willful misconduct. All such obligations of the Credit Parties shall be and remain enforceable only against the Credit Parties and shall not be enforceable against Agent or Lender. Notwithstanding any provision hereof to the contrary, the Credit Parties shall at all times remain liable to observe and perform all of its duties and obligations under its Assigned Contracts, and Agent’s exercise of any of its rights with respect to the Collateral shall not release the Credit Parties from any of such duties and obligations. Neither Agent nor any Lender shall be obligated to perform or fulfill any of any Credit Party’s duties or obligations under its Assigned Contracts or to make any payment thereunder, or to make any inquiry as to the nature or sufficiency of any payment or property received by it thereunder or the sufficiency of performance by any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance, any payment of any amounts, or any delivery of any property.