Common use of Defined Contribution Plan Clause in Contracts

Defined Contribution Plan. Employees hired on or after 7/1/98 shall participate in the Defined Contribution (DC) Pension program. The DC plan is elective for employees hired before 7/1/98. (Employees hired between 2/16/98 and 7/1/98 may elect either the DC plan, or Defined Benefit Plan; if they elect the DC plan, contribution rates are the same as for “new employees” as noted below.)

Defined Contribution Plan. Employees hired on or after 7/1/98 12/21/98 shall participate in the Defined Contribution (DC) Pension programProgram. The DC plan is elective for employees hired before 7/1/98. (Employees hired between 2/16/98 and 7/1/98 may elect either the DC plan, or Defined Benefit Plan; if they elect the DC plan, contribution rates are the same as for “new employees” as noted below12/21/98.)

Defined Contribution Plan. Employees hired on or after 7/1/98 7/1/97 shall participate in the Defined Contribution (DC) Pension programProgram. The DC plan is elective for employees hired before 7/1/98. (Employees hired between 2/16/98 and 7/1/98 may elect either the DC plan, or Defined Benefit Plan; if they elect the DC plan, contribution rates are the same as for “new employees” as noted below7/1/97.)

Defined Contribution Plan. Employees hired on or after 7/1/98 7/1/97 shall participate in the Defined Contribution (DC) Pension programProgram. The DC plan is elective for employees hired before 7/1/98'1/1/97.‌‌ 1. (Employees hired between 2/16/98 and 7/1/98 may elect either the DC plan, or Defined Benefit Plan; if they elect the DC plan, contribution rates are the same as for “Contribution rates: For current employees: Employee - 3 % Employer - 13 % For new employees” as noted below.): Employee - 5 % Employer - 11 %