Special savings Sample Clauses

Special savings. Employees covered by this collective agreement save up 2.7% of their salary qualifying for holiday pay in a special savings account. At 1 March 2018, the savings rate will be 3.4% and at 1 March 2019 it will be 4.0% of the salary qualifying for holiday pay. Included in this amount are holiday pay, holiday supplement and any accumulated special holiday time. The balance of the account is made up and the amount is disbursed on each 30 June, at the end of each calendar year and in case the employee resigns. Employees covered by the collective agreement can request the employer to make extra employee contributions to the pension scheme on an ongoing basis. Such requests, including to discontinue or change an extra employee contribution, can be made once a year and will take effect on 1 December. Any administrative expenses related to changing employee contributions are of no concern to the employee. Extra payments can be used only to increase savings.
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Special savings. As per 1 March 2021, workers earn 6% of the pay on which holiday entitlements are based as special savings. As from 1 March 2022, the rate will increase to 7%. The amount includes holiday pay and holiday allowances. At the end of the months of May and November, the balance is calculated and paid to the employee. When employment is terminated, the entire balance is payable. Recently admitted enterprises that have not set up a special savings or similar scheme before entering into the agreement may be included in a gradual increase scheme; see Annex 14 (Protocol on newly admitted enterprises – pension and special savings). Employees covered by the collective agreement may ask their employer to pay an additional employee contribution to the pension scheme on a regular basis, the contributions being taken from the special savings. Such a request, including a request to end/change the additional payment of employee contributions, may be made once a year with effect from 1 December. Any administrative expenses associated with such requests are of no concern to the employee. The additional contribution(s) will exclusively be used to increase total savings. The Danish Chamber of Commerce – Employers guarantees the payment of the amounts in question.
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Special savings a) The enterprise shall pay into the employee's Optional Pay Account 4% of the qualifying wage that is made available for the employee's optional use.
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Special savings. As of 1 March 2020, employees covered by this collective agreement accumulate 5% of their salary qualifying for holiday pay in a special savings account. As of 1 March 2021, the rate will be 6% of the qualifying salary, and as of 1 March 2022 it will be 7%. Included in this amount are holiday pay, holiday supplement and any accumulated special holiday time. The balance of the account is made up and the amount is disbursed on each 30 June, at the end of each calendar year and in the event that the employee leaves the company. In 2020, the amount will be disbursed at the end of the calendar year. Alternatively, the company and the individual employee can agree that the total special savings contribution will be paid out on an ongoing basis together with the employee’s salary. Employees covered by the collective agreement can request that the employer make extra employee contributions to the pension scheme on an ongoing basis. Such requests, including to discontinue or change an extra employee contribution, can be made once a year and will take effect on 1 December. Any administrative expenses in connection with this are of no concern to the employee. Extra payments can be used only to increase savings.
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Special savings. The enterprise shall pay into the employee's Optional Pay Account a special saving from the qualifying wage that is made available for the employee's optional use. As per 1 March 2017 2.7% As per 1 March 2018 3.4% As per 1 March 2019 4.0% Subclause 2. Extra days off – choice of
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Special savings. As of 1 March 2020, employees covered by the collective agreement will save up 3.00% of the wages that qualify for holiday pay as special savings. As of 1 March 2021, the savings shall equal 4% and, as of 1 March 2022, the savings shall equal 5% of the wages that qualify for holiday pay. The amount comprises holiday pay, holiday allowance and any special holiday accumulation. The balance shall be settled on an ongoing basis and in connection with retirement, the balance shall be settled, and the amount paid out. Supplement to the minimum wage Where the work is carried out at an hourly wage (time-based pay), it is a basic assumption that the companies pay a supplement to the minimum wage to all employees whose qualifications entitle them to receive such a supplement. Negotiations about a change in wages can only take place once every collective agreement year. Any increase of the minimum wage shall be set-off against any personal supplement the employee may have received in addition to the previously applicable minimum wage rate. Consequently, an employee’s wages will not be adjusted if they exceed the minimum wage applicable from time to time. Insight into the calculation of wages If the calculation of an employee’s wages raises an issue which cannot be dealt with at the company, and no shop xxxxxxx has been elected, the local branch of 3F (United Federation of Danish Workers) can contact the company by telephone and request a technical calculation of the employee’s wages. Such request shall be complied with as quickly as possible and within a maximum of 14 calendar days. If the local branch of 3F subsequently finds that the issue remains unresolved, it will be subject to further review in accordance with Section 17 Rules for settling industrial disputes.
Sample 1
Special savings. As of 1 March 2017, employees comprised by the collective agreement will save up 0.7% of the wages that qualify for holiday pay as special savings. As of 1 March 2018, the savings shall be equal to 1.4% and, as of 1 March 2019, the saving shall equal 2.0% of the wages that qualify for holiday pay. This sum comprises holiday pay, holiday allowance and, if relevant, special holiday accumulation. The balance shall be settled every fortnight and in connection with retirement, in which case the balance shall be settled and the amount paid out. The special savings shall come into force no later than on 1 September 2017 and be backdated to 1 March 2017.
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Related to Special savings

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the member who is covered under a high deductible health plan. The member must be covered under the HSA plan for the months in which contributions are made. HIGH DEDUCTIBLE HEALTH PLAN (HDHP) is a health plan that satisfies certain requirements with respect to deductibles and out-of-pocket expenses. The plan cannot provide payment for any covered healthcare service until the plan year deductible is satisfied, with the exception of preventive care services. HOSPITAL means a facility: • that provides medical and surgical care for patients who have acute illnesses or injuries; and • is either listed as a hospital by the American Hospital Association (AHA) or accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO).

  • Flexible Spending Account The parties agree that the State shall have the right to use State Employee Health Plan funds to cover the administrative costs of operating the medical and dependent care flexible spending account programs.

  • 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.

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Retirement Plan Employee shall participate, after meeting eligibility requirements, in any qualified retirement plans and/or welfare plans maintained by the Company during the term of this Agreement.

  • 401(k) Plan The Company presently offers its employees a 401k plan with a Company match to be determined annually by the Compensation Committee of the Board of Directors. You may elect to contribute pre-tax deferrals through payroll deduction pursuant to the terms of the 401k plan.

  • Health Care Savings Plan As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator.

  • Flexible Spending Accounts Employees in the unit shall have access to the County’s flexible spending account program, which provides employees with the options of dependent care assistance benefits with a calendar year maximum of $5,000, and medical expense reimbursement benefits with a calendar year maximum of $2,400. The County shall maintain this plan in compliance with IRC §125. Employee premiums for flexible spending account benefits shall be deducted on a pre-tax basis from employee pay.

  • Can a Savings and Incentive Match Plan for Employees of Small Employers (“SIMPLE”) Be Used in Conjunction with a Traditional IRA? A Traditional IRA may also be used in connection with a SIMPLE Plan established by your employer (or by you if you are self-employed). When this is done, the IRA is known as a SIMPLE IRA, although it is similar to a Traditional IRA with the exceptions described below. Under a SIMPLE Plan, you may elect to have your employer make salary reduction contributions to your SIMPLE IRA up to $13,500 in 2020 and $13,500 in 2021. The limits may be adjusted periodically for cost of living increases. In addition, your employer will contribute certain amounts to your SIMPLE IRA, either as a matching contribution to those participants who make salary reduction contributions or as a non-elective contribution to all eligible participants whether or not they make salary reduction contributions. A number of special rules apply to SIMPLE Plans, including (1) a SIMPLE Plan generally is available only to employers with fewer than 100 employees,

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