Common use of MATCHING ANNUITY PLAN Clause in Contracts

MATCHING ANNUITY PLAN. A. The Board agrees to establish and maintain a 401(A) Matching Annuity Plan (hereinafter referred to as the 401(A) Plan) for all certified employees covered under the collective bargaining agreement. The 401(A) Plan requires the participation of the Teacher in a salary reduction agreement establishing a 403(b), a Xxxx XXX, or a Xxxx 403(b). The 401(A) Plan contributions will commence with January 2003 contract and continue each contract thereafter.

MATCHING ANNUITY PLAN. A. The Board agrees to establish and maintain a 401(A) Matching Annuity Plan (hereinafter referred to as the 401(A) Plan) for all certified employees covered under the collective bargaining agreement. The 401(A) Plan requires the participation of the Teacher in a salary reduction agreement establishing a 403(b), a Xxxx XXX, XXX or a Xxxx 403(b). The 401(A) Plan contributions will commence with January 2003 contract and continue each contract thereafter.