Common use of Deferral Plan Clause in Contracts

Deferral Plan. During the four (4) years of salary deferral, twenty (20%) percent of the nurse's gross annual earnings will be deducted and held for the nurse and will not be accessible to her until the year of the leave or upon withdrawal from the plan.

Deferral Plan. During the four (4) years of salary deferral, twenty (20%) percent of the nurse's gross annual earnings will be deducted and held for the nurse and will not be accessible to her until the year of the leave or upon withdrawal from the plan. The manner in which the deferred is held shall be at the discretion of the Hospital. All deferred salary, plus interest, any, shall be paid to the nurse at the commencement of the leave or in accordance with such other schedule as may be agreed upon between the Hospital and the nurse.

Deferral Plan. During the four (4) years of salary deferral, twenty (20%) percent of the nurse's gross annual earnings will be deducted and held for the nurse and will not be accessible to her until the year of the leave or upon withdrawal from the plan.