403(b) Matching Plan Sample Clauses

403(b) Matching Plan. All Full-time employees are eligible for a TSA or 403b matching plan. As of January 1, 2020, the employer contribution to the match shall be a maximum of $100.00 monthly to an annual maximum of $1200.00. All Full-time employees are eligible for a TSA or 403b matching plan. As of January 1, 2021, the employer contribution to the match shall be a maximum of $108.33 monthly to an annual maximum of $1300.00.
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403(b) Matching Plan. The school district shall contribute $4,000 for the two years of this contract a tax-deferred matching contribution plan for each full-time principal who authorizes a matching salary reduction for the same period. An employee working less than full-time as a principal shall be eligible for a prorated school district contribution. Such plan shall be approved and subject to applicable provisions of Minnesota Statutes and IRS Code Section 403(b) or IRS Code Section 457 and any amendments thereto. The school district contribution and matching employee contribution will be made to a state-approved company of the principal’s choice. It shall be the responsibility of the principal to make all arrangements required by the vendor to insure that proper payment is made by the school district. The district shall make payment to the employee’s selected company bi-monthly.
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403(b) Matching Plan. Each year by October 1, employees who wish to participate in the plan shall be responsible to complete and file a salary deduction authorization for their annual contribution to a matching 403(b) plan. The School District will match an employee’s contribution to a 403 (b) tax deferred plan up to $600 per school year. During a year in which the employee makes no contribution, the District shall likewise make no contribution to that employee account. The maximum lifetime contribution shall be $30,000.
Sample 1
403(b) Matching Plan. Beginning September 1, 2000, teachers who have completed three (3) years of service in the District will be eligible to participate in a 403B matching contribution plan pursuant to M.S. 356.24. Once a teacher becomes eligible to participate and notifies the District of his/her intentions to receive the matching funds, the election will remain in effect indefinitely until the teacher cancels the election by making a written notice to the District office. The District will match eligible annual teacher contributions as listed on the chart below at the beginning of the teacher’s fourth (4th) year of service in the District. The District’s contributions will be based on the teacher’s FTE. No teacher’s FTE shall exceed 1.0. The contributions are as follows: Years of Service District Contribution 4-12 $ 600. 13-18 $ 800. 19-24 $1,200. 25+ $1,500. The maximum career matching contribution by the District shall be $25,000.00. Eligible teachers must complete a salary reduction authorization agreement by October 15th of each school year in order to participate in the 403B matching contribution plan for that school year. Teachers on unpaid leaves may not participate in the matching program while on leave. Those teachers employed after July 1, 2000, are only eligible for the 403B plan, not the plan in Section B of this article.
Sample 1

Related to 403(b) Matching Plan

  • 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.

  • 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:

  • Basic Plan All services are subject to an annual deductible of $50 per person and $100 per family. Preventive services are covered at 100%. After paying the deductible, the plan provides usual, customary, and reasonable (UCR) coverage at 100% for diagnostic and restorative services, and 80% for major services. Orthodontia is not covered.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

  • Rollovers of Xxxx Elective Deferrals Xxxx elective deferrals distributed from a 401(k) cash or deferred arrangement, 403(b) tax-sheltered annuity, 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan, may only be rolled into your Xxxx XXX.

  • Safe Harbor The recipient government will then compare the reporting year’s actual tax revenue to the baseline. If actual tax revenue is greater than the baseline, Treasury will deem the recipient government not to have any recognized net reduction for the reporting year, and therefore to be in a safe harbor and outside the ambit of the offset provision. This approach is consistent with the ARPA, which contemplates recoupment of Fiscal Recovery Funds only in the event that such funds are used to offset a reduction in net tax revenue. If net tax revenue has not been reduced, this provision does not apply. In the event that actual tax revenue is above the baseline, the organic revenue growth that has occurred, plus any other revenue-raising changes, by definition must have been enough to offset the in-year costs of the covered changes.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

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