RETIREMENT PLAN A Clause Samples
The RETIREMENT PLAN A clause establishes the terms and conditions under which employees are eligible to participate in a specific retirement savings program offered by the employer. Typically, this clause outlines eligibility requirements, contribution rates, vesting schedules, and the types of benefits or investment options available to participants. By clearly defining how employees can save for retirement and what benefits they can expect, this clause ensures transparency and helps both employers and employees plan for long-term financial security.
RETIREMENT PLAN A. The District shall offer to Plan A eligible unit members a supplemental retirement program which will provide the unit member with a monthly stipend through the month the member turns age sixty- two (62) and an insurance contribution through the month preceding the month the member turns Medicare eligible by age.
RETIREMENT PLAN A. 4.9.1. f.1 For unit members who retire in 2021-22, 2022-23, or 2023-24 2017-18, 2018-19, or 2019-20 the District's total contribution for unit member and spouse retiree medical insurance program shall be determined by multiplying 0.56 (fifty-six hundredths) times the amount of the District’s contribution for insurance listed in Section 6.1. The District’s contribution amount shall be per retired unit member per month effective October 202217, October 202318, and October 202419.