eZone   AFSCME Local 328
 4006 Barbur Blvd, Portland, OR 97239

Current Contract

   


MEMORANDUM OF UNDERSTANDING #5 Potential Contributions to 403(b) Plan

MEMORANDUM OF UNDERSTANDING #5
 
Potential Contributions to 403(b) Plan
AFSCME Local 328 (“Union”) and Oregon Health & Science University (“Employer”) hereby agree as follows:
For the biennium commencing July 2015 and for each biennium thereafter, if the average defined benefit pension cost for an employee participating in a PERS plan as of September 10, 2012 is less than six percent (6%) for the two-year average of the applicable biennium and the immediately preceding fiscal year, then the Employer will make a contribution to the employee’s 403(b) plan during the applicable biennium equivalent to the difference in dollars between 6% and the two-year averaged pension rate.  Contributions will be subject to IRS limitations and rules.
 
AFSCME LOCAL 328 OREGON HEALTH & SCIENCE
UNIVERSITY
 
 
By:____________________________ By:_____________________________
 
Date:__________________________ Date:___________________________
 
 
 


   

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