Common use of ANNUITY PROGRAM Clause in Contracts

ANNUITY PROGRAM. A. For employees hired prior to July 1, 1997, the Board will match a minimum $600 contribution by the bus driver/aide with $300. If the bus driver/aide contributes more than $600, the Board will match the amount over $600 on a dollar-for-dollar basis up to a total Board contribution of $1,200. Employees hired on or after July 1, 1997 may participate in the annuity program but shall not be eligible for a Board match.

ANNUITY PROGRAM. A. For employees hired prior to July 1, 1997, the Board will match a minimum $600 contribution by the bus driver/aide with $300. If the bus driver/aide contributes more than $600, the Board will match the amount over $600 on a dollar-for-dollar basis up to a total Board contribution of $1,200. Employees hired on or after July 1, 1997 may participate in the annuity program but shall not be eligible for a Board match.