Retirement Plan Contribution. An employee may contribute a fixed amount per pay period not exceeding 80% of salary up to a yearly maximum set by IRS guidelines. Employees age 50 and older may contribute an additional amount. After one (1) year of an eligible participating employee’s continuous service of at least 1000 hours, the Employer will match an employee’s contribution up to 3% of an employee’s salary at 50 cents on the dollar, as described in section 17.1 of this Agreement. For example, employee contribution at 6% of salary, employer contribution at 3% of salary.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
