PERS Contract definition

PERS Contract means the contract, as amended from time to time, entered into by the Borrower and PERS pursuant to the Retirement Law obligating the Borrower to make contributions to PERS in exchange for PERS providing retirement benefits to certain Borrower employees.
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PERS Contract has the meaning assigned that term in the Recitals to this Trust Agreement.
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PERS Contract means the contract dated April 5, 1960, between the Local Agency and the System, as heretofore and hereafter amended from time to time.
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Examples of PERS Contract in a sentence

  • The County will work with CalPERS to process a PERS Contract Amendment, which would credit this additional contribution towards the employee’s account.

  • From time to time, the City may enter into (i) one or more other trust agreements or indentures and/or (ii) one or more agreements supplementing and/or amending this Trust Agreement, for the purpose of providing for the issuance of Additional Bonds to refund the Bonds or to refund all or any portion of any Unfunded Liability under the PERS Contract arising subsequent to the issuance of the Bonds or any other obligations due to PERS.

  • The City may exempt temporary employees from the PERS Contract and add a PERS payroll code to simplify payroll.

  • Full-time and Part-time employees of the District shall continue as members of the District’s current California Public Employees Retirement System (PERS) Contract to provide for 2% at 55 Supplemental or Modified Formula for Local Miscellaneous Members.

  • The City participates in two retirement plans (with tiers within such plans) under the PERS Contract.

  • The proceeds of the Bonds will be used to: (i) refund the City’s obligations to PERS evidenced by the two retirement plans in which the City participates pursuant to the PERS Contract and representing the current unfunded accrued liability (the “Unfunded Liability”) with respect to certain pension benefits under the Retirement Law, and (ii) pay certain costs associated with the issuance and delivery of the Bonds.

  • The proceeds of the Bonds will be used to: (i) refund the City’s obligations to PERS evidenced by the three retirement plans in which the City participates pursuant to the PERS Contract and representing the current unfunded accrued liability (the “Unfunded Liability”) with respect to certain pension benefits under the Retirement Law, and (ii) pay certain costs associated with the issuance and delivery of the Bonds.

  • For all represented employees on the 3@50 pension formula, the City agrees to provide the employee retirement benefits based on the highest single year (12 highest paid consecutive months) per PERS Contract Section 20024.2.

  • Bonds may be issued by the City under the terms of this Trust Agreement only to refund the City’s Unfunded Liability under the PERS Contract and the Retirement Law, to fund the City’s current liability with respect to pension benefits for Fiscal Year 2020-21 under the PERS Contract and the Retirement Law and to pay the Costs of Issuance in connection with the issuance of the Bonds.

  • The City participates in three retirement plans (with tiers within such plans) under the PERS Contract.


More Definitions of PERS Contract

PERS Contract means the contract, as amended from time to time, entered into by the City and PERS pursuant to the Retirement Law obligating the City to make contributions to PERS in exchange for PERS providing retirement benefits to certain City employees.
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Related to PERS Contract

  • Project Contracts mean a contract or contracts with respect to the acquisition and/or construction of the Improvements entered into by the Company or the Issuer.