Common use of MATCHING ANNUITY PLAN Clause in Contracts

MATCHING ANNUITY PLAN. For teachers hired in Xxxxx Township on or after July 1, 2003 and Xxxxx Township teachers with less than six (6) years of total teaching experience on June 2, 2003: As a replacement for Sections 6, 7, and 8 of this Article, for Xxxxx Township teachers with less than six (6) total years of “creditable service” as defined by the Indiana State Teachers’ Retirement Fund on June 2, 2003, and for teachers hired in Xxxxx Township on or after July 1, 2003, the Board shall match dollar for dollar the teacher’s contribution made during the school year to the 403(b) plan offered by the Board in the amounts of $510 per year. A teacher shall be immediately vested in the teacher’s contributions to the 403(b) plan, but the Board’s matching contributions shall not vest until and unless the teacher retires from the MSD of Xxxxx Township under circumstances qualifying the teacher for early or full retirement benefits pursuant to the rules of the Indiana State Teachers’ Retirement Fund, as those rules may be amended from time to time.

MATCHING ANNUITY PLAN. For teachers hired in Xxxxx Township on or after July 1, 2003 and Xxxxx Township teachers with at least ten (10) but less than six fifteen (615) years of total teaching experience on June 2, 2003: As a replacement for Sections 6, 7, and 8 of this Article, for Xxxxx Township teachers with at least ten (10) but less than six fifteen (615) total years of “creditable service” as defined by the Indiana State Teachers’ Retirement Fund on June 2, 2003, and for teachers hired in Xxxxx Township on or after July 1, 2003, the Board shall match dollar for dollar the teacher’s contribution made during the school year to the 403(b) plan offered by the Board in the amounts of $510 1,020 per year. A teacher shall be immediately vested in the teacher’s contributions to the 403(b) plan, but the Board’s matching contributions shall not vest until and unless the teacher retires from the MSD of Xxxxx Township under circumstances qualifying the teacher for early or full retirement benefits pursuant to the rules of the Indiana State Teachers’ Retirement Fund, as those rules may be amended from time to time.

MATCHING ANNUITY PLAN. For teachers hired in Xxxxx Township on or after July 1, 2003 and Xxxxx Township teachers with less than at least six (6) but less than ten (10) years of total teaching experience on June 2, 2003: As a replacement for Sections 6, 7, and 8 of this Article, for Xxxxx Township teachers with less than at least six (6) but less than ten (10) total years of “creditable service” as defined by the Indiana State Teachers’ Retirement Fund on June 2, 2003, and for teachers hired in Xxxxx Township on or after July 1, 2003, the Board shall match dollar for dollar the teacher’s contribution made during the school year to the 403(b) plan offered by the Board in the amounts of $510 750 per year. A teacher shall be immediately vested in the teacher’s contributions to the 403(b) plan, but the Board’s matching contributions shall not vest until and unless the teacher retires from the MSD of Xxxxx Township under circumstances qualifying the teacher for early or full retirement benefits pursuant to the rules of the Indiana State Teachers’ Retirement Fund, as those rules may be amended from time to time.