Common use of 401a Retirement Plan Clause in Contracts

401a Retirement Plan. Starting with the 2002-03 School Year the corporation established a section 401(a) Retirement Plan for teachers to be funded with contributions by the corporation. The corporation agrees to contribute 1% of the teachers’ base salary as established in the Teacher’s Master Contract Compensation Plan. Contributions to the 401(a) Plan will be done on a quarterly basis. The plan will provide for vesting after fifteen

401a Retirement Plan. 1. Starting with the 2002-03 School Year the corporation established a section 401(a) Retirement Plan for teachers to be funded with contributions by the corporation. The corporation agrees to contribute 1% of the teachers’ base salary as established in the Teacher’s Master Contract Compensation Plan. Contributions to the 401(a) Plan will be done on a quarterly basis. The plan will provide for vesting after fifteen