Special Pay Deferral Plan Sample Clauses

Special Pay Deferral Plan. When an employee leaves the District after ten (10) years of satisfactory employment, the employee is required to participate in a Special Pay Deferral Plan for payments of the following:
Sample 1
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Special Pay Deferral Plan. The amounts payable under the Special Pay Deferral Plan shall be deposited by the employer in the form of a non-elective employer contribution to a 403(b) plan account of each eligible employee's choice provided through MEA-FS, except that no contribution shall cause an employee to exceed the limitations of Section 415(c} of the Internal Revenue Code. Contributions that exceed the Section 415(c) limitations shall be deposited for each affected employee in the following calendar year and in each subsequent year until all amounts due have been deposited by the employer. However, no employer contribution may be deposited in any year that is later than the fifth calendar year following the year in which the employee terminates employment with the school district. Employees shall have no cash option to this employer 403(b} contribution. The 403(b) policy [and the 403(b) plan document, if any] of this school district shall provide that all employees are eligible to retire from the school district for the purpose of the district's 403(b) plan and hence may withdraw 403(b) contributions at any time before or after termination of employment to the extent allowed by the Internal Revenue Code. INDEX Administrative Assistant Classifications 30 Agency Shop 4 Agency Shop - Checkoff 4 Appendix A - Wage Schedule 00 Xxxxxxxx X – Administrative Assistant ClassificationS 30 Attendance Incentive 19 Benefits 22 Cash-in-lieu 23 Dental Insurance 22, 23 Disability Premiums 23 Health Insurance 22 Life Insurance 22, 23 Payment of Premiums 24 Retirement 23 Tax Sheltered Annuity 23 Vision Insurance 22, 23 Binding Effective Agreement 27 Career Advancement Incentive 26 Check Off 5 Classification 27, 30 Compensation 27 Continuing Education 25 Contractual Work 7 Deductions 25 Discharge 11 Discipline 11 Dismissal 11 Economic Reopeners 28 Educational Leave 12 Emergency 25 Emergency School Closing. 25 Evaluation 24 Funeral Leave 20 General Provisions 24 Grievance Procedure Definitions 13 Step Five 14 Step Four 14 Step One 13 Step Six - Arbitration 15 Step Three 14 Step Two 13 Holidays 20 Immediate Family Illness 12 Job Posting. 9 Jurisdiction 7 Jury Duty 22 Labor-Management Committee 6 Layoff 8 Layoff Notice 8 Leave of Absence 11 Accrual of Seniority 12 Educational Leave. 12 Immediate Family Illness 12 Military Duty 12 National Guard/Reserves 12 Personal Illness 12 Request for Leave 11 Union Office 12 Worker's Compensation 12 Legal Protection 25 Life Insurance 23 Mentor Program 26 Mileage 2...
Sample 1

Related to Special Pay Deferral Plan

  • Deferral Plan The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period, or such other schedule as may be mutually agreed between the employee and the Hospital. In the case of the four (4) years' salary over a five (5) year schedule, during the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee. Such deferred salary will not be accessible to the employee until the year of the leave or upon the collapse of the plan. In the case of another mutually agreed upon deferral schedule, the percentage of salary deferred shall be adjusted appropriately.

  • Tax-Deferred Earnings The investment earnings of your IRA are not subject to federal income tax until distributions are made (or, in certain instances, when distributions are deemed to be made).

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Tax Deferred Annuities The Board of Directors for the District shall provide and pay for such tax deferred annuities pursuant to RCW 28A.400.250 as the union shall request and the Board of Directors shall authorize. Payment for said annuities shall be at the option of the employee and deducted from the monthly salary as authorized by the individual employee.

  • 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.

  • Deferred Compensation Program ‌ Unit members shall continue to be eligible to join the County’s Deferred Compensation Plan. Said employees will be bound by the same Plan, rules and participation agreements as are generally applicable to other County employees. DSA acknowledges that County retains the right to alter, amend, or repeal the current plan, rules, and participation agreements, at any time. The County shall not charge an administrative fee to participating employees.

  • Vacation Pay on Retirement Termination is as follows:

  • Deferred Earnings The manner in which the deferred salary is held shall be at the discretion of the Hospital. The employee will be made aware, in advance of having to sign any formal agreement, of the manner of holding such deferred salary. Interest which is accumulated during each year of the deferral period shall be paid out to the employee in accordance with Part LXVIII of the Income Tax Regulations, Section 6801.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

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