401(k) Retirement Plan. Upon commencement of Employee’s employment with the Company and obtaining valid immigration and/or work authorization status in the United States, Employee shall be eligible to make contributions to a 401(k) Retirement Plan sponsored by the Company. The Company’s current practice is to match Employee’s contribution to Employee’s 401(k) Retirement Plan as follows: 100% Company matching contribution on the first 3% of pay that Employee contributes; and 50% Company matching contribution on the next 2% of pay that Employee contributes. In addition, if Employee participates in the Company’s 401(k) Plan, and if the Company meets certain financial targets, Employee may receive an additional annual Company retirement contribution.
401(k) Retirement Plan. 16.1 The Carrier shall provide a 401(k) retirement plan on the same terms as they apply to other employees of the CMQ and as they may be amended from time to time.
401(k) Retirement Plan. It is understood and agreed that EMPLOYEE did participate in a retirement plan offered by COMPANY and therefore COMPANY has no further obligation to withhold any deductions nor make any contributions to any such plan on behalf of EMPLOYEE. Therefore, for purposes of the retirement plan, EMPLOYEE is no longer considered an employee and voluntary contributions will not be withheld from the separation payment.
401(k) Retirement Plan. PNA pays up to a 5% match of the employee’s contribution. There is a maximum Company contribution as may be established from time to time by the Internal Revenue Service. The vesting period for Company contributions is 5 years.
401(k) Retirement Plan. Section 1 - Qualifying employees shall be entitled to participate in the Employer’s 401k Retirement Plan. The first two percentage points (2%) of salary invested by an employee in the 401K plan will be matched dollar for dollar by the Employer’s matching contribution.
401(k) Retirement Plan. Rainy Lake Medical Center Employee 401k Pension Plan, Effective January 1, 2006. Eligibility Requirements: • Age 21 • One calendar year of service at Rainy Lake Medical Center • Minimum of 1000 hours of service in the first 12 months employed • Eligibility for the match and profit sharing are the same • Employee may begin to make elective deferrals at time of hire Vesting Schedule: Three (3) plan years with 1000 hours of service each to be 100% vested. Contribution Match: Rainy Lake Medical Center contributes up to 2.5% percent based on a 50% match of eligible employee contributions. See examples. (note: negotiated increases of .5% shall be effective 1/1/2022.) Employee contributes 4% RLMC Matches 2% Employee contributes 5% RLMC Matches 2.5% Employee contributes 10% RLMC Matches 2.5%
401(k) Retirement Plan. A 401(K) Retirement Plan will be established for engineers as described on Attachment
401(k) Retirement Plan. Section 1: The Company shall make available to its Employees the ATU 401K Retirement Savings Program. Section 2: Participation in the plan is not mandatory.
401(k) Retirement Plan. The Company will establish a 401K plan which will become effective July 1, 2006. The Company will contribute 25% up to the first 4% of employee’s pay. All Pilots will be able to contribute up to the maximum amount allowable by law. 107
401(k) Retirement Plan. The Buyer maintains a Tax-qualified defined contribution plan with a salary reduction arrangement, the terms of which meet the requirements of Sections 401(a) and 401(k) of the Code (the “Buyer Savings Plan”). Each Transferred Employee who is eligible to contribute to the Seller’s Tax-qualified defined contribution plan (the “Seller Savings Plan”) on the Closing shall be eligible to contribute to the Buyer Savings Plan commencing with the first payroll period ending on or after January 12, 2011. As soon as practicable following the Closing Date, but no later than 120 days following the Closing Date, the Seller shall cause the Seller Savings Plan to transfer to the Buyer Savings Plan the accounts (including outstanding loans) of all Transferred Employees who are still employed by the Buyer on the date of the transfer. In addition, from the Closing Date through the date of such asset transfer, the Buyer shall, subject to employee consent, withhold from the paychecks of Transferred Employees with outstanding loans under the Seller Savings Plan the required amount of all loan repayments and promptly remit such withholdings to the trustee of the Seller Savings Plan. The Sellers agree to reimburse the Buyers for any future contributions required under the Buyer Savings Plan as a result of any administrative errors under the Seller Savings Plan prior to the Closing Date.
