403(b) Match Sample Clauses

403(b) Match. Subd. 1.
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403(b) Match. The Board shall contribute a match of 2% of a teacher’s salary into a qualified IRS Code Section 403(b) annuity plan. To be eligible for this match, teachers must contribute a minimum of 2% of their salary through payroll. The 403(b) vesting schedule for teachers is: 1 year of service – 0% 2 years of service – 0% 3 years of service – 50% 4 years of service – 50% 5 years of service – 100% Appendix A CSC of Eastern Xxxxxxx County Certified New Hire Salary Placement Contract Year 2019-2020 Recognition of Teaching Experience Gained Outside of Eastern Xxxxxxx School Corporation The school employer has the option of recognizing previous teaching experience. This may be gained from: • Any private or parochial school certified by the General Commission • Any private or parochial school recognized by the duly authorized state agency of any otherstate • Teaching experience in any accredited public elementary or secondary school and other experience recognized by Indiana Teachers’ Retirement Fund • Teaching experience in any elementary or secondary school maintained by the U.S. governmentor teaching experience gained in federally funded programs as approved by the GeneralCommission. Using the Salary Schedule set forth below, for the initial placement purposes only of a new teacher hired by the School Corporation, a level represents a year of teaching service. A teacher’s initial placement on the salary schedule will typically be in the correct degree column and in the level which is equal to the years of service the new teacher has accrued. However, the Superintendent may deviate from this typical placement if he/she deems it appropriate and/or may alternatively pay the new hire a one-time signing bonus in the Superintendent’s sole discretion, which one-time bonus would be paid on January 31 of the new hire’s first contract year. Effective with the 2019-2020 school year, the new minimum starting base salary is being raised from $35,000 to $37,500. All new hires in the 2019-2020 school year who started with a base salary below the new minimum base salary amount will have their starting salary readjusted upward to the new minimum of $37,500. New Hire Salary Placement Ranges Bachelors + 0 Bachelors + 18 Masters Yrs. Range Range Range 0-2 $ 37,500 - 40,000 $ 38,500 - 41,000 $ 39,500 - 42,000 3-5 $ 40,000 - 42,500 $ 41,000 - 43,500 $ 42,000 - 44,500 6-8 $ 42,500 - 45.000 $ 43500 - 46,000 $ 44,500 - 47,000 9-11 $ 45,000 - 47,500 $ 46,000 - 48,500 $ 47,000 - 49,500 12-14 $ ...
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403(b) Match. Effective with the 2018-19 school year, ECE teachers who have taught at least two (2) years in the School District and who work an average of thirty (30) hours per week and a minimum of one thousand twenty (1020) hours per year will be eligible to participate in the Tax Deferred Plan II set forth in Article XIV, Section 3.
Sample 1
403(b) Match. The Board shall contribute a match of 2% of a teacher’s salary into a qualified IRS Code Section 403(b) annuity plan. To be eligible for this match, teachers must contribute a minimum of 2% of their salary through payroll. The 403(b) vesting schedule for teachers is: 1 year of service – 0% 2 years of service – 0% 3 years of service – 50% 4 years of service – 50% 5 years of service – 100%
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403(b) Match. Beginning on January 1, 2022, the Board will match a member's 403b contribution at a rate of $0.50 for every $1.00 contributed by the employee. The
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403(b) Match. The Superintendent will receive an annual match of up $2,100 to state approved 403B plans.
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403(b) Match. Teachers hired before July 1, 1999, will continue to be covered under the retirement language of this Article until it expires on June 30, 2015. School District contributions made to a teacher’s 403b matching annuity plan will be deducted from any severance pay which is payable to that teacher upon resignation. In addition any match amount the employee could have received pursuant to Article X, 403b, Match Plan, Section 1, but failed to contribute and did not receive because he/she chose not to make the contribution necessary to receive the match will be paid by the employer directly into the employee’s 403b upon retirement after a deduction of the amount of the school district’s contributions made in accordance with Article X.
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Related to 403(b) Match

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Partial Employer Contribution - Basic Eligibility The following employees covered by this Agreement receive the full Employer Contribution for basic life coverage, and at the employee's option, a partial Employer Contribution for health and dental coverages if they are scheduled to work at least fifty (50) percent but less than seventy-five (75) percent of the time. This means:

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.

  • When Must Distributions from a Xxxxxxxxx Education Savings Account Begin? Distribution of a Xxxxxxxxx Education Savings Account must be made (or otherwise will be deemed made) no later than 30 days from the earlier of the beneficiary’s death or attainment of age 30. A distribution from a Xxxxxxxxx Education Savings Account may be rolled over to another beneficiary’s Xxxxxxxxx Education Savings Account according to the requirements of Section (4). Note that the Economic Growth and Tax Relief Reconciliation Act of 2001 waives the distribution age limitation if the beneficiary of the Xxxxxxxxx Education Savings Account is a “Special Needs” student.

  • Are There Penalties for Early Distribution from a Xxxx XXX As indicated above, earnings on your contributions, as well as amounts contributed to a Xxxx XXX as a rollover from a Traditional IRA, that are distributed before certain events are subject to various taxes. Please see IRS Publication 590 for further information about Xxxx XXX rules and restrictions.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • How Are Distributions from a Xxxxxxxxx Education Savings Account Taxed For Federal Income Tax Purposes? Amounts distributed are generally excludable from gross income if they do not exceed the beneficiary’s “qualified higher education expenses” for the year or are rolled over to another Xxxxxxxxx Education Savings Account according to the requirements of Section (4). “Qualified higher education expenses” generally include the cost of tuition, fees, books, supplies, and equipment for enrollment at (i) accredited post-secondary educational institutions offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree or another recognized post-secondary credential and (ii) certain vocational schools. In addition, room and board may be covered if the beneficiary is at least a “half-time” student. This amount may be reduced or eliminated by certain scholarships, qualified state tuition programs, HOPE, Lifetime Learning tax credits, proceeds of certain savings bonds, and other amounts paid on the beneficiary’s behalf as well as by any other deductions or credits taken for the same expenses. The definition of “qualified education expenses” includes expenses more frequently and directly related to elementary and secondary school education, including the purchase of computer technology or equipment or Internet access and related services. To the extent payments during the year exceed such amounts, they are partially taxable and partially non-taxable similar to payments received from an annuity. Any taxable portion of a distribution is generally subject to a 10% penalty tax in addition to income tax unless the distribution is (i) due to the death or disability of the beneficiary, (ii) made on account of a scholarship received by the beneficiary, or (iii) is made in a year in which the beneficiary elects the HOPE or Lifetime Learning credit and waives the exclusion from income of the Xxxxxxxxx Education Savings Account distribution. You may be allowed to take both the HOPE or Lifetime Learning credits while simultaneously taking distributions from Xxxxxxxxx Education Savings Accounts. However, you cannot claim a credit for the same educational expenses paid for through Xxxxxxxxx Education Savings Account distributions. To the extent a distribution is taxable, capital gains treatment does not apply to amounts distributed from the account. Similarly, the special five- and ten-year averaging rules for lump-sum distributions do not apply to distributions from a Xxxxxxxxx Education Savings Account. The taxable portion of any distribution is taxed as ordinary income. The IRS does not require withholding on distributions from Xxxxxxxxx Education Savings Accounts.

  • How Are Contributions to a Xxxxxxxxx Education Savings Account Reported for Federal Tax Purposes? Contributions to a Xxxxxxxxx Education Savings Account are reported on IRS Form 5498-ESA.

  • Premium Contributions i. Effective March 1, 2014, the Company and employees will contribute toward the premium costs of the NECA Health Plan for eligible Regular employees in accordance with this Section.

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