Common use of MATCHING ANNUITY PLAN Clause in Contracts

MATCHING ANNUITY PLAN. The school employer will continue to maintain a qualified 401(a) Annuity Plan (hereinafter referred to as the "CCSC 401(a) Plan" for all certified employees covered under this collective bargaining agreement. The CCSC 401(a) Plan shall be available to all certified employees. The school employer shall also maintain a 403(b) Plan (hereinafter referred to as the "403(b) Plan) for all certified employees covered under this collective bargaining agreement. The 403(b) Plan will include provisions for pre-tax salary reduction contributions. To participate in the 40l(a) Plan with an employer's match, a certificated employee must contribute at least $528 at the rate of $22 each of the 24 pays per school year. For certificated employees participating in 40l(a) Plan with an employer's match, employer will match certificated employee's $528 school year contribution as follows: Certificated Employee's Contribution Employer's Match on $1.00 of Employee Contribution Maximum Employer's Match Per School Year $528 $2.00 $1,056 In the event that a certified employee elects to not contribute $528 the CCSC will also not contribute. The parties further agree that all contributions made to the CCSC 401(a) Plan by the school employer shall be considered as additional funds and counted as part of any salary increase negotiated for the certified employees. All certified employees will be vested 100% upon the completion of the fifth consecutive year of teaching in Crawfordsville Community Schools. The CCSC 40l(a) Plan and the 403(b) Plan shall:

MATCHING ANNUITY PLAN. The school employer will continue to maintain a qualified 401(a) Annuity Plan (hereinafter referred to as the "CCSC 401(a) Plan" for all certified employees covered under this collective bargaining agreement. The CCSC 401(a) Plan shall be available to all certified employees. The school employer shall also maintain a 403(b) Plan (hereinafter referred to as the "403(b) Plan) " for all certified employees covered under this collective bargaining agreement. The 403(b) Plan will include provisions for pre-tax salary reduction contributions. To participate in the 40l(a) Plan with an employer's match, a certificated employee must contribute at least $528 at the rate of $22 each of the 24 pays per school year. For certificated employees participating in 40l(a) Plan with an employer's match, employer will match certificated employee's $528 school year contribution as follows: Certificated Employee's Contribution Employer's Match on $1.00 of Employee Contribution Maximum Employer's Match Per School Year $528 $2.00 1.50 $1,056 792 In the event that a certified employee elects to not contribute $528 the CCSC will also not contribute. The Parties agree that the CCSC 401(a) Plan and the 403(b) Plan shall replace the Early Retirement Plan detailed in the 2002-2004 contract. The parties further agree that all contributions made to the CCSC 401(a) Plan by the school employer shall be considered as additional funds and counted as part of any salary increase negotiated for the certified employees. All certified employees will hired prior to July 1, 1999 shall be vested 100% immediately vested in the Plan. For the certified employees hired after July 1, 1999 the CCSC 401(a) Plan and the 403(b) Plan will replace the Early Retirement Plan set forth in 2002-2004 contract with 100% vesting to occur upon the completion of the fifth consecutive year of teaching in Crawfordsville Community Schools. The CCSC 40l(a) Plan and the 403(b) Plan shall:

MATCHING ANNUITY PLAN. The school employer will continue to maintain a qualified 401(a) Annuity Plan (hereinafter referred to as the "CCSC 401(a) Plan" for all certified employees covered under this collective bargaining agreement. The CCSC 401(a) Plan shall be available to all certified employees. The school employer shall also maintain a 403(b) Plan (hereinafter referred to as the "403(b) Plan) " for all certified employees covered under this collective bargaining agreement. The 403(b) Plan will include provisions for pre-tax salary reduction contributions. To participate in the 40l(a) Plan with an employer's match, a certificated employee must contribute at least $528 at the rate of $22 each of the 24 pays per school year. For certificated employees participating in 40l(a) Plan with an employer's match, employer will match certificated employee's $528 school year contribution as follows: School Year Certificated Employee's Contribution Employer's Match on $1.00 of Employee Contribution Maximum Employer's Match Per School Year 20-21 $528 $2.00 1.50 $1,056 792 In the event that a certified employee elects to not contribute $528 the CCSC will also not contribute. The Parties agree that the CCSC 401(a) Plan and the 403(b) Plan shall replace the Early Retirement Plan detailed in the 2002-2004 contract. The parties further agree that all contributions made to the CCSC 401(a) Plan by the school employer shall be considered as additional funds and counted as part of any salary increase negotiated for the certified employees. All certified employees will hired prior to July 1, 1999 shall be vested 100% immediately vested in the Plan. For the certified employees hired after July 1, 1999 the CCSC 401(a) Plan and the 403(b) Plan will replace the Early Retirement Plan set forth in 2002-2004 contract with 100% vesting to occur upon the completion of the fifth consecutive year of teaching in Crawfordsville Community Schools. The CCSC 40l(a) Plan and the 403(b) Plan shall:

MATCHING ANNUITY PLAN. The school employer will continue to maintain a qualified 401(a) Annuity Plan (hereinafter referred to as the "CCSC 401(a) Plan" for all certified employees covered under this collective bargaining agreement. The CCSC 401(a) Plan shall be available to all certified employees. The school employer shall also maintain a 403(b) Plan (hereinafter referred to as the "403(b) Plan) " for all certified employees covered under this collective bargaining agreement. The 403(b) Plan will include provisions for pre-tax salary reduction contributions. To participate in the 40l(a) Plan with an employer's match, a certificated employee must contribute at least $528 at the rate of $22 each of the 24 pays per school year. For certificated employees participating in 40l(a) Plan with an employer's match, employer will match certificated employee's $528 school year contribution as follows: School Year Certificated Employee's Contribution Employer's Match on $1.00 of Employee Contribution Maximum Employer's Match Per School Year 18-19 $528 $2.00 1.50 $1,056 792 In the event that a certified employee elects to not contribute $528 the CCSC will also not contribute. The Parties agree that the CCSC 401(a) Plan and the 403(b) Plan shall replace the Early Retirement Plan detailed in the 2002-2004 contract. The parties further agree that all contributions made to the CCSC 401(a) Plan by the school employer shall be considered as additional funds and counted as part of any salary increase negotiated for the certified employees. All certified employees will hired prior to July 1, 1999 shall be vested 100% immediately vested in the Plan. For the certified employees hired after July 1, 1999 the CCSC 401(a) Plan and the 403(b) Plan will replace the Early Retirement Plan set forth in 2002-2004 contract with 100% vesting to occur upon the completion of the fifth consecutive year of teaching in Crawfordsville Community Schools. The CCSC 40l(a) Plan and the 403(b) Plan shall: