Defined Contribution Retirement Plan. Employees hired after December 31, 2006 and current employees hired on or before December 31, 2006 and who choose the defined contribution plan will be eligible to participate in the Defined Contribution Retirement Plan only. Employees who elected to participate in the Defined Contribution Plan will have their Defined Benefit Retirement Plan assets "frozen" effective December 31, 2006; that is, all benefits earned to date will be protected but no additional benefits will be earned. The Defined Contribution Retirement Plan will be funded according to the following formula:
Defined Contribution Retirement Plan. Any employee covered under this agreement hired on or after May 1, 2003 will be enrolled in the defined contribution retirement plan with a mandatory contribution of 7.5% of gross pay (pre-tax). The employer will also contribute 7.5% of an employees’ gross pay. Investments to be directed by the employee through available options. Vesting period: Five (5) years. Contributions to begin on date of hire. Effective January 1, 2011 the mandatory employee contribution will be 5% of gross pay (pre-tax). The employer will also contribute 5% of an employee’s gross pay. Worker’s Compensation
Defined Contribution Retirement Plan. A. Beginning on the plan commencement date, as defined in Section 6 (A) above, the County will make available a County 1.62 Retirement, Section 457(b) Defined Contribution Plan (the “DC Plan”) to those employees who are covered by the 1.62% at 65 benefit formula (whether by election, deemed to have elected or are hired on after January 1, 2013 and are deemed to be “new members” within the meaning of PEPRA). These employees will be permitted to make voluntary contributions to the DC Plan. The County will make matching contributions as described in Section 4.B., below.
Defined Contribution Retirement Plan. Effective July 1, 2013 any new pension eligible employee will be enrolled in a defined contribution plan. The Board will contribute an amount equal to 5% of the employee’s earnings to this plan, and there will be no required employee contribution. The employee’s earnings will use the same definition of compensation as in the Defined Benefit Retirement Plan.) The vesting period will be 5 years (“rolling”), with 20% of the value of the plan available after one completed year of service and an additional 20% of the value of the plan available after each completed year of service up to the 5th year.
Defined Contribution Retirement Plan. A full-time regular employee covered by this Agreement who is not eligible, pursuant to the terms of this Article, for membership in the Town’s Retirement System shall enroll and become a member in the Town of Greenwich Defined Contribution Retirement Plan (the “DC Plan”) as set forth in this paragraph 6.
Defined Contribution Retirement Plan. Section 17.1. New employees covered under this agreement with a hire date of January 1, 2002 or after will be enrolled in the defined contribution plan with a mandatory contribution of 7.5% of gross pay (pre-tax). The employer will also contribute 7.5% of an employee’s gross pay. Investments to be directed by the employee through available options. Vesting period: Five (5) years. Contributions to begin on date of hire. Effective January 1, 2011 the mandatory employee contribution will be 5% of gross pay (pre-tax). The employer will also contribute 5% of an employee’s gross pay. Deferred Compensation
Defined Contribution Retirement Plan. Eligibility Full and part-time regular and provisional Supervisory-Technical employees Vesting The date of hire of the employee. Employer Contribution The University contribution to an eligible employee’s 403(b) Basic Retirement Plan is based on a percentage of employee’s base hourly rate beginning on date of hire (See S-42-2). Effective July 1, 2015, the employer contribution rate is ten percent (10.0%). Pay excluded from Employer retirement contributions: • Retirement incentives • Excellence awards • Payback • Leave payoff at retirement/termination • Supplemental pay (paid for MPSERS) • Special assignment pay (paid for MPSERS) • On-campus employees also teaching Global Campus course (paid for MPSERS) • Subsistence Voluntary Tax Deferred Plan Employees are strongly encouraged to contribute to a supplemental retirement account (“SRA”) to the extent allowed by law. Record Keeping Entity TIAA-CREF, or such other record keeping entity as the University shall selects.
Defined Contribution Retirement Plan. 1. ANAHEIM and the UNION agree that Anaheim shall adopt a 457 plan as the vehicle for a permitted defined contribution retirement plan for eligible employees in the Convention Center Unit of Representation.
Defined Contribution Retirement Plan. Starting with the pay period that includes July 1, 2012, the District will contribute 1% of the employee’s gross pay into each eligible bargaining unit employee’s individual retirement account. The District’s contribution under this paragraph shall automatically end effective in the pay period that includes June 30, 2014, unless the parties mutually agree to extend it, in writing. The District’s contribution shall be made for each eligible employee each pay period. Employees will be responsible for completing the deferred compensation plan provider’s sign-up process in order to receive this benefit. The Union agrees that it will promote individual employee contributions to the defined contribution retirement plan. The parties agree that the 1% District contribution described above will continue until the matching program described below becomes effective. Once the matching program described below becomes effective, the 1% District contribution described above will cease. Starting with the pay period following July 1, 2014, or following ratification, whichever is later, the District will offer a matching retirement program. Under that program, the District will match fifty percent (50%) of an individual employee’s contribution to the employee’s individual retirement account, with a maximum contribution as follows: the maximum individual employee contribution entitled to the District’s match is six percent (6%) of the employee’s gross pay (for a maximum District match of three percent (3%) of the employee’s gross pay).
Defined Contribution Retirement Plan. Any employee covered under this agreement hired in the Lenawee County Sheriff’s Department on or after January 1, 2006 will only be eligible to enroll in the County’s Defined Contribution Retirement Plan with a mandatory contribution rate of 7.5% of gross pay (pre-tax). The Employer will also contribute 7.5% of an employee’s gross pay. Investments to be directed by the employee through available options. Vesting period shall be five (5) years. Contributions to begin on the date of hire. Effective January 1, 2011 any employee covered under this agreement and enrolled in the Defined Contribution Retirement Plan will have a mandatory contribution rate of 5% of an employees gross pay (pre-tax). The employer will also contribute 5% of an employees gross pay.
