Optional Retirement Plan. Bargaining unit members participating in the Optional Retirement Plan will not have the six percent (6%) employee contribution picked up by Eastern Oregon University made to an IAP. The six percent (6%) employee contribution to the OPURP is picked up by EOU, except Tier IV.
Optional Retirement Plan. (ORP). For work performed on or after January 1, 0000, Xxxxxxx Xxxxxx University shall pay on behalf of ORP participants the statutorily required employee contribution under ORS 243.800(8). For employees participating in the ORP hired on or after July 1, 2014, the University will make all employer contributions to the ORP required under ORS 243.800(10)(a) and (b).
Optional Retirement Plan. In addition to the Michigan Public School Employees Retirement System program, newly hired non-contingent full-time Leadership Association members shall have the option of choosing the optional retirement plan provided by the College. All provisions for enrollment, amounts provided by the College, and amounts to be paid by the Leadership Association member shall be governed by the terms and conditions of the optional retirement plan adopted by the College as required by state of Michigan regulations. The optional retirement plan for eligible members is described in appendix A.
Optional Retirement Plan. The provisions listed below shall be included as part of the Alpena Community College optional retirement plan as required by Public Act 296 of 1994. This statute mandates that the Employer offer a defined contribution retirement plan for full-time Employees as an option to the defined benefit retirement plan through the Michigan Public School Employees Retirement System (MPSERS). Plan Provider: Teachers Insurance and Annuity Association College Retirement Equities Fund (TIAA-CREF) Effective Date: No later than January 1, 1998, or at such date agreed upon by mutual consent 90-Day Window: 90 Days from effective date of plan Eligibility: Full-time faculty, supervisors, and managers Contributions: College pays a maximum contribution of 12% Vesting: Full/immediate
Optional Retirement Plan. Except as provided herein, for those faculty members employed by the College and electing to participate in the Optional Retirement Plan on or before August 23, 2014, the College shall contribute to the retirement account, for the credit of the member, the same amount each year that would have been contributed if the faculty member had elected the MPSERS plan, but not to exceed the percentage rate paid by the College for each faculty member as of November 1, 2016. Notwithstanding the above, for each faculty member who commences work in the bargaining unit on or after August 24, 2014 and who elects to participate in the Optional Retirement Plan, the College shall contribute to the ORP, for the credit of the member, twelve (12.0%) percent of the faculty member's gross pay. Each faculty member who was employed by the College as a member of the bargaining unit prior to August 23, 2014 and who elects to participate in the Optional Retirement Plan shall contribute from his/her salary an amount equal to the percentage rate the member would have contributed if the faculty member had elected the MPSERS plan, but not to exceed the percentage rate paid by each faculty member as of November 1, 2016. As to faculty members commencing work in the bargaining unit on or after August 24, 2014, each such faculty member who elects to participate in the Optional Retirement Plan shall contribute to the ORP, for the credit of the member, four (4.0%) percent of the faculty member's gross pay.
Optional Retirement Plan. For those employees electing to participate in the Optional Retirement Plan, the Employer shall contribute eleven and one-half percent (11.5%) of such employ- ees’ total earnings to the Plan. The employees’ contribution shall be three and one-half percent (3.5%) of total earnings. LETTER OF UNDERSTANDING Between the Kalamazoo Valley Community College Faculty Association and
Optional Retirement Plan. (ORP). For work performed on or after January 1, 2004, Western Oregon University shall pay on behalf of ORP participants the statutorily required employee contribution under ORS 243.800(8).
Optional Retirement Plan. The provisions listed below shall be included as part of the Alpena Community College optional retirement plan as required by Public Act 296 of 1994. This statute mandates that the Employer offer a defined contribution retirement plan for full-time Employees as an option to the defined benefit retirement plan through the Michigan Public School Employees Retirement System (MPSERS). Plan Provider: Teachers Insurance and Annuity Association College Retirement Equities Fund (TIAA-CREF) Effective Date: No later than January 1, 1998, or at such date agreed upon by mutual consent 90-Day Window: 90 Days from effective date of plan Eligibility: Full-time faculty, supervisors, and managers Contributions: College pays a maximum contribution of 12% Vesting: Full/immediate Selection of Accounts: Seven account choices selectable by the Employee Withdrawal Rules: Cash or annuity - 100% at age 55 or older Transportability: Nationwide Health, Dental, Vision: None
Optional Retirement Plan. 1. Both Employee and employer contributions to the Optional Retirement Plan will continue until the participant’s retirement date as required by Arizona Revised Statutes 15-1628C and the Optional Retirement Plan document. Both the University’s and the Employee’s contributions to the ORP account will be based on the employee’s reduced salary, subject to contribution limits imposed by applicable section(s) of the Internal Revenue Code.
Optional Retirement Plan. A. Plan Administrator St. Clair County Community College 000 Xxxx Xxxxxx Xxxx Xxxxx, XX 00000
