Matching Annuity. Effective July 1, 2006, an eligible teacher hired after July 1, 1990 may participate in the District’s matching annuity program as provided in M.S. 356.24, subd. 1(5) ii, subject to the provisions contained in this Article. Until June 30, 2006, eligibility requirements are based on the criteria stated in Section 3, Subdivision 1.
Matching Annuity. An eligible employee may participate in the District’s matching annuity program as provided in M.S. 356.24, Subd. 1(5) ii, subject to the provisions contained in this Article.
Matching Annuity. In the 2008-2009 school year and thereafter, if a teacher voluntarily contributes up to one and one-half percent (1-1/2%) of his/her contract salary amount to the teacher’s individual tax deferred 403(b) annuity, the Board shall make a matching contribution of up to one and one-half percent (1-1/2%) to the teacher’s individual 401(a) account. The vendor shall be mutually selected between the Board and the Association. The teacher is one hundred percent (100%) vested upon deposit.
Matching Annuity. The Board shall implement a matching annuity program and make it available for all teachers. The implementation of such program shall take place through the creating of an investment account under 403(b) of the Internal Revenue Code. Such an investment portfolio will match a teacher's individual tax sheltered annuity 403(b) up to a cap of one thousand dollars ($1,000) in any one school year. Such teacher and school corporation annuity payments shall be deposited into the individual teacher’s investment accounts each month. Trustees made up of up to four (4) teacher bargaining team members and up to two (2) administrators will manage such fund and create rules and regulations for its operation. Participants will be fully vested upon completion of one (1) full year of teaching, as recognized by the Indiana State Teachers Retirement Fund.
Matching Annuity. The Board agrees to maintain a qualified 401(a) Xxxxxxx Plan for the superintendent. The Board shall also maintain a 403(b) plan which will include provisions for pre-tax salary reduction contributions which will be matched by equal Board contributions to the 401(a) plan. The maximum contribution that will be made to the 401(a) plan by the Board will be 1% of the base salary. The superintendent will be 100% vested in the 401(a) plan.
Matching Annuity. An eligible PARA may participate in the District’s matching annuity program as provided in M.S. 356.24, subd. 1(5) ii, subject to the provisions contained in this Article.
Matching Annuity. Effective no later than July 1, 2002 a full-time employee, as defined in Section 8.1 and hired after July 1, 1997 may participate in the District’s matching annuity program as provided in Minnesota Statute § 356.24 subd. 1(5)ii. Or, effective no later than July 1, 2002 a full time employee, as defined in Section 8.1 who requests in writing by October 1, 2002 the benefits of this section in lieu of any benefits under Article IX, may participate in the District’s matching annuity program as provided in M.S. 356.24 subd. 1(5)ii. Subject to the provisions contained herein.
Matching Annuity. Teachers who contribute at least 1% of their base salary into a 403(b) account will receive 1% of their base salary contributed into a 401(a) account. The deferred salary plus interest vest when a teacher reaches five years of service in Xxxxx Township. Contributions to the retirement plans will be promptly deposited with the record keeper for that plan. In regard to the 403(b) plan, teacher and any employer contributions can be deposited with vendors which maintain account balances for at least 10% of the participants in the 403(b) plan during the school year. In the event a vendor does not administer teacher accounts with balances for the minimum number of the participants in a particular school year, the Board is not responsible to forward contributions to that vendor and shall require the teacher to select a vendor who is designated by the Board to receive contributions during that school year.
Matching Annuity. Effective no later than July 1, 2001 an eligible custodian may participate in the District’s matching annuity program as provided in M.S. 356.24 subd. 1(5)ii. Subject to the provisions contained herein.
Matching Annuity. 16 Section 2.
