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%
Appears in 4 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
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%
Appears in 3 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement