Participant Elective Contributions Not Applicable for Other Purposes Sample Clauses

Participant Elective Contributions Not Applicable for Other Purposes. It is acknowledged that the election of a Member to convert a portion of his or her base pay under the terms of the Plan will be effective for purposes of this Plan and will reduce the Member's compensation insofar as certain payroll taxes may be applicable. However, for all other employment related purposes, including all of the Member's rights and privileges under this labor agreement, his or her base pay or compensation will be considered as though no election had been made.
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Participant Elective Contributions Not Applicable for Other Purposes. It is 28 acknowledged that the election of a Member to convert a portion of his or her base pay under the terms 29 of the Plan will be effective for purposes of this Plan and will reduce the Member’s compensation 30 insofar as certain payroll taxes may be applicable. However, for all other employment related 31 purposes, including all of the Member’s rights and privileges under this labor agreement, his or her 32 base pay or compensation will be considered as though no election had been made. 34 Section 15.9 Employees hired or rehired on or after March 22, 2013, will be eligible for an additional 35 automatic Company Contribution to the Plan in lieu of the Company match provided in 15.5. Each pay 36 period, the Company will contribute to the Plan an amount equal to a percent of the employee’s eligible 37 pay for the pay period, according to the schedule below. Eligible pay, for the purpose of calculating 38 the Company contribution, is base pay, shift differential, and employee incentive pay earned on or 39 after March 22, 2013. 40 Age at End of Year Automatic Company Contribution Maximum Company Match (100% on first 4%; 50% of next 4%) Total Company Contribution (assumes employee contrib- utes 8% of pay) Under age 40 3% 6% 9% Age 40–49 4% 6% 10% Age 50 and older 5% 6% 11% 41 42 43 44 45 46 47 48 49 50 Employees will be 100% vested immediately in this Company Contribution. An employee is 51 considered rehired if the employee returns to work from layoff and the return date is more than 6 52 years after the date of layoff. Employees whose most recent hire date is before March 22, 2013, are not 53 eligible for this Company contribution. 54 55 • For purposes of determining Plan eligibility, the employee will be considered hired 56 before March 22, 2013, if:
Sample 1

Related to Participant Elective Contributions Not Applicable for Other Purposes

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Participant Contributions If Participant contributions are permitted, complete (a), (b), and (c). Otherwise complete (d).

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

  • Partial Employer Contribution - Basic Eligibility The following employees covered by this Agreement receive the full Employer Contribution for basic life coverage, and at the employee's option, a partial Employer Contribution for health and dental coverages if they are scheduled to work at least fifty (50) percent but less than seventy-five (75) percent of the time. This means:

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