Employee Contributions. Prescription . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dental . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Vision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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. Retirement System contributions shall be paid by the employee. Any employee Retirement System contributions obligations shall be “picked up” for tax purposes only pursuant to this Section. The Auditor/Controller-Recorder shall implement the pick up of such Retirement System contributions under Internal Revenue Code Section 414(H)(2) effective with the earnings paid and contributions made on and after the effective date of this Article. The employee must choose to have the contributions designated as all employer or all employee contributions for retirement purposes. If the employee designates the pickup as employer contributions, then for each dollar applied, the employee’s retirement obligation shall be satisfied in the amount of the actuarial value of that dollar to the Retirement Association as determined by the Board of Retirement; and the employee may not withdraw this contribution from the Retirement Association. If the employee designates the pickup as employee contributions, then for each dollar applied, the employee’s retirement obligation shall be satisfied in the amount of one dollar; and upon separation without retirement, an employee may withdraw this contribution from the Retirement Association. Upon retirement or separation, all contributions applied under this Section will be considered for tax purposes as employer-paid contributions. If the employee does not file a designation, the contributions shall be made as employee contributions. Employees hired on or after January 1, 2013 cannot choose to designate retirement system contributions as employer contributions. For such employees, all contributions shall be employee contributions. The County shall make member contributions under this Section on behalf of the employee, which shall be in lieu of the employee’s contributions and such contributions shall be treated as employer contributions for purposes of reporting and wage withholding under the Internal Revenue Code and the Revenue and Taxation Code. The amounts picked up under this Section shall be recouped through offsets against the salary of each employee for whom the County picks up member contributions. These offsets are akin to a reduction in salary and shall be made solely for purposes of income tax reporting and withholding. The member contributions picked up by the County under this Section shall be treated as compensation paid to County employees for all other purposes. County paid employer contributions to the County’s Retireme...
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. (a) An employee may make contributions additional to those made by the Company under subclause 26.3(a). To do so the employee must authorise the Company in writing to pay into the Fund, from the employee's wages, a specified amount in accordance with the Fund trust deed and rules.
Employee Contributions. (a) Subject to the rules of the Fund, employees who wish to make contributions to the Fund additional to those being paid pursuant to sub-clause 2 hereof, shall be entitled to do so. Such employees may either forward their own contributions directly to the Fund administrators or, where, it is practicable to do so, authorise the employer to pay into the Fund from the employee's wages, amounts specified by the employee.
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.