PERS Pick-up. Effective the first full pay period in January 2014, the Authority will not pick up any of the sworn employees’ PERS contributions. Sworn employees’ will be contributing 9.0% toward the cost of PERS. Effective the first full pay period July 2015, sworn employees will pay an additional 1.0% towards the employers cost of PERS for a combined employee and employer contribution of 10%. Effective the first full pay period in July 2016, sworn employees will pay an additional 1.0% towards the employers cost of PERS for a combined employee and employer contribution of 11.0%. Effective the first full pay period in July 2017, sworn employees will pay an additional 1.0% towards the employers cost of PERS for a combined employee and employer contribution of 12.0%. Effective the first full pay period in January 2014, non-sworn employees will contribute an additional 4.0% of the miscellaneous employees PERS contribution. The total non-sworn employees’ PERS contribution will be 11.5%. All Sworn and Non-Sworn retirement contributions made to PERS shall be made in accordance with IRSC 414(h)(2).
Appears in 3 contracts
Sources: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding