Match Deductions Sample Clauses
Match Deductions. The School District will match eligible annual contributions based on the completion of the following service credit with the District: 0-1 years No Match 2-8 Years $600.00 Match 9-14 years $650.00 per year 15-21 years $700.00 per year 22+ years $750.00 per year The School District shall contribute annually an amount equal to the amount contributed by the employee. The amount contributed by the District shall not exceed the maximum amount outlined in this subdivision.
Match Deductions. Subd. 1. Yearly Contributions. Yearly contributions made by the School District to a qualified employee's Matching Annuity shall be deducted from the $45,000 (or $43,000) contribution with any balance remaining due to the eligible employee upon retirement. Any certified staff hired after July 1, 2004 will not qualify for any balance remaining. One-third of the remaining balance will be paid in the first pay period in each July following retirement for three years.
Subd. 2. Any employee having been employed by the District for fifteen consecutive years
Match Deductions. Subd. 1. Yearly Contributions. Yearly contributions made by the School District to a qualified employee's Matching Annuity shall be deducted from the $45,000 (or $43,000) contribution with any balance remaining due to the eligible employee upon retirement. Any certified staff hired after July 1, 2004 will not qualify for any balance remaining. One-third of the remaining balance will be paid in the first pay period in each July following retirement for three years.
Subd. 2. Any employee having been employed by the District for fifteen consecutive years or more shall neither gain nor lose severance value during any duly approved Mobility Leave as defined in Minn. Stat. 354.05, Subd. 13. Neither the Employee nor District shall make any annuity contributions during the Mobility Leave.