403(b) Basic Retirement Program Clause Samples

403(b) Basic Retirement Program. (1) Employees hired on or after January 1, 1996 will be eligible for the 403(b) Basic Retirement Program (403(b) Basic) as described below. (2) The 403(b) Basic program is a defined contribution plan with immediate vesting. There is no required employee contribution, although employees are encouraged to contribute toward their retirement through the University’s voluntary tax deferred investment program. (3) University contributions to an employee’s 403(b) Basic account will commence as of the date of hire. (4) University Contribution toward 403(b) Basic: 10%
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Related to 403(b) Basic Retirement Program

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Public Employees Retirement System “PERS”) Members.