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
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