Salary Reduction Elections Sample Clauses

Salary Reduction Elections. Each teacher may elect to make tax deferred contributions, i.e., salary reduction contributions, to a plan described in Code Section 403(b) to maximum limits allowed by the Code. The School Corporation shall maintain a list of approved investment vendors for the salary reduction contributions made to the 403(b) Plan. However, such vendors must satisfy the requirements of Article V, Section G, and the School Corporation may require vendors to sign hold harmless agreements, service agreements, and other agreements outlining the obligations of the vendors to the School Corporation and teachers.

Salary Reduction Elections. The Board agrees to maintain the Tri-Creek School Corporation 403(b) Plan (“403(b) Plan”), a plan described in Section 403(b) of the Internal Revenue Code of 1986, as amended (“Code”). A teacher may elect to make tax-deferred contributions, i.e., salary reduction contributions, to the 403(b) Plan up to the maximum limits allowed by the Code. Such elective contributions shall be 100% vested at all times.

Salary Reduction Elections. At Superintendent’s election, the Salary Reduction Payments can be used to: (i) fund and pay through salary reduction contributions Formatted: Strikethrough Formatted: Strikethrough Formatted: Strikethrough Formatted: Font color: Red

Salary Reduction Elections. At Superintendent’s election, the Salary Reduction Payments can be used to: (i) fund and pay through salary reduction contributions for any of the qualified benefits selected under a Code section 125 plan maintained by the School Corporation, (ii) make salary reduction contributions to Code section 403(b) and/or 457(b) plans, or (iii) paid as additional wages to Superintendent. However, unless and until Superintendent completes applicable salary reduction agreements, Salary Reduction Payments shall be paid as additional wages to Superintendent less applicable income and employment tax withholdings.