Common use of DEFINED COMPENSATION Clause in Contracts

DEFINED COMPENSATION. Employees, at their sole option, may authorize and direct the Employer to deposit sick leave credit pay under Section 9.03c) to a deferred compensation plan or other tax qualified plan administered by the Employer provided such option is exercised at the same annual time as regular changes in deferred compensation payroll deductions are normally permitted.

Appears in 2 contracts

Sources: Collective Bargaining Agreement, Collective Bargaining Agreement