Contributions to Individual Account Programs. Effective February 1, 2019, compensation plan salary rates for PERS participating members shall be increased by six and ninety five one hundredths percent (6.95%). At that time, bargaining unit employees will begin to make their own six percent (6%) contributions to their PERS account or the Individual Account Program as applicable. Employees’ contributions shall be treated as ‘pre tax’ contributions pursuant to Internal Revenue Code Section 414(h)(2).
Appears in 2 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement