Deferred Compensation Match Clause Samples
A Deferred Compensation Match clause outlines the employer's commitment to match a portion of an employee's contributions to a deferred compensation plan. Typically, this clause specifies the percentage or amount the employer will match, the types of compensation eligible for matching, and any vesting requirements or limits on the match. Its core practical function is to incentivize employees to participate in long-term savings plans by providing additional employer-funded benefits, thereby supporting employee retention and financial planning.
Deferred Compensation Match. The District will make a matching payment to the tax-deferred savings plans. The District Payment will be made to the State of Minnesota Deferred Compensation Plan (457) and/or the Special School District No. 1 403(b)
Deferred Compensation Match. Effective the first full pay period of July 2021, each employee that is an active participant and contributes a minimum of one hundred dollars ($100.00) per pay period to a City approved Deferred Compensation program, will have their contributions matched by the City, not to exceed one hundred dollars ($100.00) per pay period.
Deferred Compensation Match. 1. The County shall match a Union member’s contribution to deferred compensation up to a maximum of three percent (3%) of the employee’s base salary.
2. This match shall be made on a biweekly basis and shall be consistent with the current laws and regulation governing deferred comp contributions.
Deferred Compensation Match. The Employer will contribute fifty cents ($.50) for every dollar ($1.00) contributed by the employee. The employer contribution will not exceed one percent (1%) of the employee’s monthly base wage.
Deferred Compensation Match. 4.4.1 Effective with the date this agreement is adopted by the Board of Supervisors, the County shall match an employee’s deferred compensation contribution according to the following schedule:
4.4.1.1 Up to four hundred dollars ($400) per calendar year for employees with one (1) year to nine and nine-tenths (9.9) years of County service;
4.4.1.2 Up to five hundred dollars ($500) per calendar year for employees with ten (10) or more years of County service.
Deferred Compensation Match. Effective with the first full pay period in November 2015, the County will match up to one hundred and fifty dollars ($150) per calendar year for employees with five to nine and ninety-nine one hundredths (5 to 9.99) years of service and up to two hundred dollars ($200) per calendar year for employees with ten (10) years of service or more.
Deferred Compensation Match. The District will make a matching payment to the tax-deferred savings plans. The District Payment will be made to the State of Minnesota Deferred Compensation Plan (457) and/or the Special School District No. 1 403(b) Plan. All employer and employee amounts paid to the State of Minnesota Deferred Compensation Plan (457) are subject to FICA or social security taxes. All employee contributions to the 403(b) plan are subject to FICA, but employer contributions to the 403(b) plan are not subject to FICA.
1. Employer Contributions/Employee Deferrals: 403(b) employer contributions are in addition to your limit 457 employer contributions are included in your limit For detailed current information concerning deferral limits, see the IRS website (▇▇▇.▇▇▇.▇▇▇) For current information about maximum shelter amounts, additional contributions, catch-up limits, and other details concerning the 457 or 403(b) plans, consult the plan’s representative or website. An employee who terminates employment with the District prior to the time of the match payment, as a result of resignation, layoff, retirement, or discharge will not be eligible for any further payment to the tax-deferred savings plans under this section.
2. Employees may enroll, change or cease their contributions at any time.
a. An employee who terminates employment with the District prior to the time of the match payment, as a result of resignation, layoff, retirement, or discharge will not be eligible for any further payment to the tax-deferred savings plans under this Section.
Deferred Compensation Match. Effective the first pay period after July 1, 2024, the District shall match employee contributions to the 457B Deferred Compensation plan for up to $300 annually (annual contributions will be calculated over a fiscal year). The District match will be capped at $12.50 per pay period. Employees must enroll in the match option to be eligible for the deferred compensation match. ARTICLE 12
Deferred Compensation Match. Effective the first full pay period of July 2015, each employee that is an active participant and contributes a minimum of fifty dollars ($50.00) per pay period to a City approved Deferred Compensation program, will have their contributions matched by the city, not to exceed fifty dollars ($50.00) per pay period.
Deferred Compensation Match. The County provides the following deferred compensation plan match for employees with open 457 deferred contribution accounts:
1. Beginning with the pay period following the completion of two (2) years of service, the County will match up to thirty-five dollars ($35.00) a month or if a biweekly pay cycle sixteen dollars and fifteen cents ($16.15) per pay period (26x/year)
2. Beginning with the pay period following the completion of five (5) years of service, the County will match up to eighty-five dollars ($85.00) a month or if a biweekly pay cycle thirty-nine dollars and twenty-three cents ($39.23) per pay period (26x/year)
3. Beginning with the pay period following the completion of ten (10) years of service, the County will match up one hundred and seventy dollars ($170.00) a month or if a biweekly pay cycle seventy-eight dollars and forty-six cents ($78.46) per pay period (26x/year) Deferred Compensation plans available are the 457 deferred compensation plans currently offered to County employees, which may be subject to change. If, during the term of the MOU, the County secures a 401(a) plan County contributions may be made to the 401(a) plan. Rules Governing Coverage and Compensation, Benefits and Working Conditions of Employees of the County of Yuba Article 9 Vacation Leave With Pay Section 9.11 Conversion to Deferred Compensation The parties agree that the provision to convert vacation hours to deferred compensation as per the Rules Governing Coverage and Compensation, Benefits and Working Conditions of Employees of the County of Yuba Article 9 Vacation Leave With Pay Section 9.11 Conversion to Deferred Compensation does not apply to YCPPOA