City Contribution to Deferred Compensation Sample Clauses

City Contribution to Deferred Compensation. The City shall contribute $50.00 per month on behalf of each employee to the City's deferred compensation plan.
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
City Contribution to Deferred Compensation. The City shall provide a contribution to a deferred compensation account in the amount of $30.00 per month per employee. In addition to the above amounts, the City shall make an additional contribution to the deferred compensation accounts of Firefighters, Fire Engineers, Fire Captains and Fire Battalion Chiefs as follows: Effective the pay period including June 16, 2020 (which is June 6, 2020 to June 19, 2020), the City shall make a contribution to employees in each of the classifications in this bargaining unit in the amount of one and three tenths percent (1.3%) of each classification’s top step (Step 5 for Firefighter and Fire Battalion Chief and Step 3 for Fire Engineer and Fire Captain). Effective the pay period including October 1, 2020, the City shall make a contribution to employees in each of the classifications in this bargaining unit in the amount of two and three tenths percent (2.3%) (the one and three tenths percent (1.3%) initially provided with the pay period including June 16, 2020, and an additional one percent (1%) for a total of two and three tenths percent (2.3%)) of each classification’s top step (Step 5 for Firefighter and Fire Battalion Chief and Step 3 for Fire Engineer and Fire Captain). Effective the pay period including October 1, 2021, the City shall make a contribution to employees in each of the classifications in this bargaining unit in the amount of three and three tenths percent (3.3%) (the two and three tenths percent (2.3%) initially provided effective with the pay period including October 1, 2020, and an additional one percent (1%) for a total of three and three tenths percent (3.3%)) of each classification’s top step (Step 5 for Firefighter and Fire Battalion Chief and Step 3 for Fire Engineer and Fire Captain). Effective the pay period including October 1, 2022, the City shall make a contribution to employees in each of the classifications in this bargaining unit in the amount of four and three tenths percent (4.3%) (the three and three tenths percent (3.3%) initially provided effective with the pay period including October 1, 2021, and an additional one percent (1%) for a total of four and three tenths percent (4.3%)) of each classification’s top step (Step 5 for Firefighter and Fire Battalion Chief and Step 3 for Fire Engineer and Fire Captain). Effective the pay period including October 1, 2023, the City shall make a contribution to employees in each of the classifications in this bargaining unit in the amount of ...
Sample 1Sample 2
City Contribution to Deferred Compensation. The City shall contribute $320.00 per month on behalf of each Police Officer to a deferred compensation account. The City shall contribute $475.00 per month on behalf of each Police Sergeant to a deferred compensation account. In addition to the above amounts, the City shall pay make an additional contribution to the deferred compensation accounts of Police Officers and Police Sergeants as follows: The City shall make a contribution to employees in the classification of Police Officer in the amount of three percent (3%) of step 5 for the classification of Police Officer. The City shall make a contribution to employees in the classification of Police Sergeant in the amount of three percent (3%) of step 6 for the classification of Police Sergeant. As addressed in paragraph B below, the parties acknowledge that there is a statutory maximum amount which may be contributed into an employee’s deferred compensation account. Given the above contributions from the City, employees are responsible for ensuring that any individual contributions employees elect to make to their own deferred compensation accounts do not cause the account to exceed the maximum permitted by law. If the maximum permitted by law is reached prior to the end of a calendar year, there will no additional City contributions for the remainder of that calendar year.
Sample 1Sample 2
City Contribution to Deferred Compensation. The City shall contribute $30.00 per month on behalf of each employee to a deferred compensation account. In addition to the above amount, the City shall pay make an additional contribution to the deferred compensation accounts of Police Lieutenants and Police Captains as follows: The City shall make a contribution to employees in the classification of Police Lieutenant in the amount of three percent (3%) of step 6 for the classification of Police Lieutenant. The City shall make a contribution to employees in the classification of Police Captain in the amount of three percent (3%) of step 6 for the classification of Police Captain. As addressed in paragraph B below, the parties acknowledge that there is a statutory maximum amount that may be contributed into an employee’s deferred compensation account. Given the above contributions from the City, employees are responsible for ensuring that any individual contributions employees elect to make to their own deferred compensation accounts do not cause the account to exceed the maximum permitted by law. If the maximum permitted by law is reached prior to the end of a calendar year, there will no additional City contributions for the remainder of that calendar year.
Sample 1
City Contribution to Deferred Compensation. 1. The City's maximum contribution to deferred compensation shall be one hundred twenty five dollars ($125.00) per pay period.
Sample 1
City Contribution to Deferred Compensation. The City shall contribute $320.00 per month on behalf of each Police Officer to a deferred compensation account. The City shall contribute $475.00 per month on behalf of each Police Sergeant to a deferred compensation account. In addition to the above amounts, the City shall pay make an additional contribution to the deferred compensation accounts of Police Officers and Police Sergeants as follows: Effective the pay period including March 31, 2020 (which is March 28, 2020 to April 10, 2020), the City shall make a contribution to employees in the classification of Police Officer in the amount of one percent (1%) of step 5 for the classification of Police Officer. Effective the pay period including March 31, 2020 (which is March 28, 2020 to April 10, 2020), the City shall make a contribution to employees in the classification of Police Sergeant in the amount of one percent (1%) of step 6 for the classification of Police Sergeant. Effective the pay period including October 1, 2020, the City shall make a contribution to employees in the classification of Police Officer in the amount of two percent (2%), the one percent (1%) initially provided on March 28, 2020, and an additional one percent (1%) for a total of two percent 2%) of step 5 for the classification of Police Officer. Effective the pay period including October 1, 2020, the City shall make a contribution to employees in the classification of Police Sergeant in the amount of two percent (2%), the one percent (1%) initially provided on March 28, 2020, and an additional one percent (1%) for a total of two percent (2%) of step 6 for the classification of Police Sergeant. Effective the pay period including October 1, 2021, the City shall make a contribution to employees in the classification of Police Officer in the amount of three percent (3%), the two percent (2%) initially provided effective with the pay period including October 1, 2020, and an additional one percent (1%) for a total of three percent (3%) of step 5 for the classification of Police Officer. Effective the pay period including October 1, 2021, the City shall make a contribution to employees in the classification of Police Sergeant in the amount of three percent (3%), the two percent (2%) initially provided effective with the pay period including October 1, 2020, and an additional one percent (1%) for a total of three percent (3%) of step 6 for the classification of Police Sergeant. As addressed in paragraph B below, the parties acknowledge ...
Sample 1

Related to City Contribution to Deferred Compensation

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • 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.

  • Tax Deferred Annuities The Board of Directors for the District shall provide and pay for such tax deferred annuities pursuant to RCW 28A.400.250 as the union shall request and the Board of Directors shall authorize. Payment for said annuities shall be at the option of the employee and deducted from the monthly salary as authorized by the individual employee.

  • Tax-Deferred Earnings The investment earnings of your IRA are not subject to federal income tax until distributions are made (or, in certain instances, when distributions are deemed to be made).

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.