Common use of District Matching Contribution Clause in Contracts

District Matching Contribution. The School District will match the contribution of an eligible teacher towards either the Minnesota State Deferred Compensation Program (Section 457) or an approved 403b tax sheltered annuity plan up to an annual amount of $2,000 (two thousand dollars). The School District match will be made on a dollar-for-dollar basis up to the maximum annual amount. Teachers may not recover School District matching contributions for years in which they chose not to participate or participated at a level below the maximum School District contribution level. The annual year for District contributions shall be July 1 through June 30. The District contribution will be pro-rated for part time teachers. The School District’s matching contribution shall be paid into the teacher’s account with the State of Minnesota’s Deferred Compensation Program (Section 457) or the teacher’s 403(b) tax sheltered annuity plan through a vendor from the District approved list.

District Matching Contribution. The School District will match the contribution of an eligible teacher towards either the Minnesota State Deferred Compensation Program (Section 457) or an approved 403b tax sheltered annuity plan up to an annual amount of $2,000 (two thousand dollars). The School District match will be made on a dollar-for-dollar for dollar basis up to the maximum annual amount. Teachers Employees may not recover School District matching contributions for years in which they chose not to participate or participated at a level below the maximum School District contribution level. The annual year for District contributions shall be July 1 through June 30. The District contribution will be pro-rated for part time teachersemployees. The School District’s matching contribution shall be paid into the teacher’s account with the State of Minnesota’s Deferred Compensation Program (Section 457) or the teacher’s 403(b) tax sheltered annuity plan through a vendor from the District approved list.