Employee Contributions. Any member of the bargaining unit who is hired on or after September 1, 2010 is eligible to make a voluntary contribution to the City=s Deferred Compensation Plan offered by Ameritas.
Employee Contributions. (a) Each participant shall be allowed to contribute on a bi-weekly basis up to an amount equal to eighty percent (80%) of the Participant’s wage. Such bi-weekly wage deductions shall be in increments of one percent (1%) and shall be contributed to the Participant’s account. The participant may contribute on a pre-tax, after-tax, Xxxx basis or any combination.
Employee Contributions. Any employee who is a member of the bargaining unit who is hired on or after September 1, 2010 and who participates in the City=s defined contribution retirement plan shall be required to make a mandatory employee contribution in an amount equal to 7% of the employee=s compensation.
Employee Contributions. Employees shall be required to contribute to the Retirement System three (3%) percent of his compensation that is taken into account under the Retirement System. To the extent permitted by law, the contribution will be made on a pre- tax basis. Such member contributions shall be through automatic payroll deduction on a bi-weekly basis from each member’s earnings, as a condition to future pension accruals earned on or after July 1, 2013. An individual’s accumulated member contributions shall be refunded to the individual under the circumstances specifically permitted by the Retirement System. The withdrawal of accumulated member contributions made on or after July 1, 2013 shall be computed on an actuarially neutral basis. The actuarial present value of the pension reduction shall be equal to the amount of accumulated member contributions withdrawn. The actuarial present value shall be computed using (i) the interest rate used in the annual actuarial valuation (7.0% as of December 31, 2010) plus 0.5% and (ii) the mortality table used in the annual actuarial valuation (RP2000 Mortality Table projected to 2020 with scale AA as of December 31, 2010) with a 50% unisex blend.
Employee Contributions. Except as otherwise expressly provided in Sections 5.3(a) and 5.3(b), as of January 1, 2001, Teledyne Technologies shall have the right, in its sole and absolute discretion and without compliance with Sections 5.3(a) and 5.3(b), to increase or decrease the amount of employee contributions under their respective Health and Welfare Plans.
Employee Contributions. An employee who desires dependent health care coverage shall execute a payroll deduction authorization form and submit it to the County authorizing a deduction from each pay check of an amount necessary to pay for such dependent health benefits as certified to the County, from time to time, by the Union Plan.
Employee Contributions. If most recent date of hire is on or after 1 January, 1991, 2.5% of regular annual earnings. If most recent date of hire is before 1 January, 1991, either 6% of regular annual earnings minus amount of CPP contributions or the employee, in her discretion, may reduce contributions to 2.5% of regular annual earnings.
Employee Contributions. A Participant may elect to withdraw, in cash, up to one hundred percent of the amount then credited to his Employee Contribution Account. Such withdrawals shall be limited to one (1) per Plan Year unless this prototype plan document is an amendment of a prior plan document, in which case the rules and restrictions governing Employee Contribution withdrawals, if any, are incorporated herein by reference.
Employee Contributions. Each such employee must, in writing, authorize the Company to deduct the employee's contributions from the employee's wages and to transmit same to the Fund. When supplied with such a written authorization, the Company agrees to make the required deductions and to promptly transmit same to the Fund. Employee contributions are due at the same time as the Company contributions. Employees who refuse or neglect to provide the Company with the necessary written authorization to deduct the required employee contributions will receive no Fund coverage. In those cases in which an employee has supplied the Company with the required written authorization but because of lack of wages the Company is unable to deduct the employee contribution for a particular benefit month, it is the obligation of the employee to pay, in a timely fashion, to the Company for transmittal to the Fund the required employee contribution. The coverage of such an employee failing to make the required payment on time is automatically terminated. Employee pre-tax co-pay will be deducted on a weekly basis.