Contributory Plan Sample Clauses
A Contributory Plan clause defines a benefit plan, such as a retirement or health insurance plan, in which both the employer and the employees contribute to the funding of the plan. Typically, the employer will specify the percentage or amount that employees must contribute, with the remainder covered by the employer, and participation may be mandatory or voluntary depending on the plan's terms. This clause ensures that the financial responsibility for the plan is shared, making benefits more affordable for employees while managing costs for the employer.
Contributory Plan. The Employer will maintain a 403(b) Thrift Plan. All employees are eligible to participate in the plan and make contributions to it.
Contributory Plan. PPSO will maintain a contributory retirement plan. All employees are eligible to participate in the plan and make contributions to it upon completion of their trial service period.
Contributory Plan. All nurses are eligible to participate in and 23 contribute to the SCHS retirement plan.
Contributory Plan. All nurses are eligible to participate in and 30 contribute to the SCHS retirement plan. 33 contributions to the retirement plan up to six percent (6%) of total 34 compensation for all benefit eligible nurses after one year of
Contributory Plan. The Employer will maintain a 403(b) Thrift Plan. All employees are eligible to participate in the plan and make contributions to it. Eligible employees are automatically enrolled after 90 days of employment.