Common use of Salary Contributions Clause in Contracts

Salary Contributions. Employee salary contributions -- a function of years of service and corresponding percentage -- shall be deposited into the Employee’s HCSP account. 1. Employees with less than ten (10) years of Departmental Seniority shall contribute one-quarter (¼) percent of the Employee’s gross earnings per pay period. 2. Employees with more than ten (10) years and less than fifteen (15) years of Departmental Seniority shall contribute one-half (½) percent of the Employee’s gross earnings per pay period. 3. Employees with more than fifteen (15) years and less than twenty (20) years of Departmental Seniority shall contribute three-quarters (¾) percent of the Employee’s gross earnings per pay period. 4. Employees with more than twenty (20) years and less than twenty-five (25) years of Departmental Seniority shall contribute one (1) percent of the Employee’s gross earnings per pay period. 5. Employees with more than twenty-five (25) years of Departmental Seniority shall contribute one and one-quarter (1¼) percent of the Employee’s gross earnings per pay period.