Common use of Deferred Compensation Matching Program Clause in Contracts

Deferred Compensation Matching Program. Eligible employees include (a) employees hired on or after July 1, 1990 and (b) employees hired prior to July 1, 1990 who elected this Deferred Compensation Matching Program and do not participate in the District Severance Pay Program (see Appendix C – Severance). All eligible employees as defined in this Section after having completed five years of service in the St. Louis Park Public District will be eligible to participate in the deferred compensation matching program. The District will match the amount a full-time employee contributes up to the amounts defined in Section 13.C. District contributions for employees less than full-time will be on a pro-rata basis.

Deferred Compensation Matching Program. Eligible employees include (a) employees hired on or after July 1, 1990 1999 and (b) employees hired prior to July 1, 1990 1999 who elected this Deferred Compensation Matching Program and do not participate in the District Severance Pay Program (see Appendix C – SeveranceB A13.1-A13.5). All eligible regularly scheduled employees as defined in this Section after having completed five years of service working 20 hours or more per week in the St. Louis Park Public District will be eligible to participate in the deferred compensation matching program. The District will match the amount a full-time an employee contributes up to the amounts defined in Section 13.C. 13.1.C. District contributions for employees less than full-time contribution will be on a pro-rata prorate basis.