ICMA-RC 1 -2011 - Laserfiche WebLink

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VI. Contribution Sources and Amounts A. Definition of Earnings The definition of Earnings will apply to all RHS Contribution Features that reference "Earnings", including Direct Employer Contributions (Section VI.B.1.) and Mandatory Employee Compensation Contributions (Section VI.B.2.). Definition of earnings: As defined by the MOU B. Direct Employer Contributions and Mandatory Contributions 1. Direct Employer Contributions The Employer shall contribute on behalf of each Participant ❑ % of Earnings ❑ $ each Plan Year ❑ A discretionary amount to be determined each Plan Year 0 Other (describe): 1. a percent of earnings as defined by the MOU and 2. a one time contribution as a conversion from the existing PMA Medical Retirement Subsidy Plan 2. Mandatory Employee Compensation Contributions The Employer will make mandatory contributions of Employee compensation as follows: ® Reduction in Salary - see#1 above % of Earnings or $ will be contributed for the Plan Year. ❑ Decreased Merit or Pay Plan Adjustment - All or a portion of the Employees' annual merit or pay plan adjustment will be contributed as follows: An Employee shall not have the right to discontinue or vary the rate of Mandatory Contributions of Employee Compensation. 3. Mandatory Employee Leave Contributions The Employer will make mandatory contributions of accrued leave as follows (provide formula for determining Mandatory Employee Leave contributions): m Accrued Sick Leave Employees hired prior to 1990 who separate from service on or after July 1, 2011 100% of sick leave cash out ® Accrued Vacation Leave Employees hired prior to 1990 who separate from service on or after July 1, 2011, 100% of vacation leave payout ❑ Other (specify type of leave) Accrued Leave Employees hired prior to 1990 who separate from service on or after July 1, 2011, 100% of management leave payout and 100% of holiday leave payout. Ail Employee shall not have the right to discontinue or vary the rate of mandatory leave contributions. C. Limits on Total Contributions (check one box) The total contribution by the Employer on behalf of each Participant (including Direct Employer and Mandatory Employee Contributions) for each Plan Year shall not exceed the following limit(s) below. Limits on individual contribution types are defined within the appropriate section above.