Sample for one-sixth Cost of Rerement
Employees currently not making retirement contributions, can determine an estimated dollar
contribution for when the one-sixth contribution starts in May 2013. Multiply your bi-weekly
base pay by the percentage shown in the one-sixth column on the reverse side chart, using
your hiring age, not your current age.
The following is a sample by age for employees earning $1,595 ($20 per hour) bi-weekly
base wage:
Required
Contribuon
2% Raise
1.10%
$17.55
$31.90
$1595.00
1.32%
$21.05
$31.90
40
$1595.00
1.59%
$25.36
$31.90
50
$1595.00
1.85%
$29.51
$31.90
Age Hired
Base Pay
20
$1595.00
30
X
1/6 Contribuon
=
All SEIU employees will receive more from their 2 percent salary increase than the cost of
the one sixth retirement contribution in the second year. Before the implementation of the
second one-sixth (total one-third) in the third year, we will be back at the bargaining table
for a wage increase.
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Kern County Employee’s Rerement
3% @ age 60
Member rates as a percentage of current salary
Entry Age
First $350 of
Monthly Comp.
Excess of $350
Monthly Comp.
2nd Year of MOU
1/6
18
4.23%
6.34%
1.06%
19
4.31%
6.46%
1.08%
20
4.39%
6.58%
1.10%
21
4.47%
6.70%
1.12%
22
4.55%
6.83%
1.14%
23
4.63%
6.95%
1.16%
24
4.72%
7.08%
1.18%
25
4.81%
7.21%
1.20%
26
4.90%
7.35%
1.23%
27
4.99%
7.48%
1.25%
28
5.08%
7.62%
1.27%
29
5.17%
7.76%
1.29%
30
5.27%
7.91%
1.32%
31
5.37%
8.06%
1.34%
32
5.47%
8.21%
1.37%
33
5.57%
8.36%
1.39%
34
5.68%
8.52%
1.42%
35
5.79%
8.68%
1.45%
36
5.90%
8.85%
1.48%
37
6.01%
9.02%
1.50%
38
6.13%
9.19%
1.53%
39
6.25%
9.38%
1.56%
40
6.37%
9.56%
1.59%
41
6.50%
9.75%
1.63%
42
6.62%
9.93%
1.66%
43
6.74%
10.11%
1.69%
44
6.85%
10.28%
1.71%
45
6.97%
10.45%
1.74%
46
7.07%
10.61%
1.77%
47
7.17%
10.75%
1.79%
48
7.26%
10.89%
1.82%
49
7.34%
11.01%
1.84%
50
7.41%
11.12%
1.85%
51
7.47%
11.21%
1.87%
52 and over
7.50%
11.25%
1.88%