Common use of Contributions by the Employee Clause in Contracts

Contributions by the Employee. In addition to the Employer’s contribution, each year an employee will be required to make a contribution of three percent (3%) of his/her pensionable earnings to the plan. An employee may also decide to make voluntary contributions to the plan of one percent (1%), two percent (2%) or three percent (3%) of his/her pensionable earnings. Basic UOIT Contribution Supplemental UOIT Contribution Required Faculty Contribution Voluntary Faculty Contribution Total 6% + 0% to 2% (as elected by the employee) + 3% + 0% to 3% (as elected by the employee) = 9% to 14%