Supplemental Retirement Program. The Board and Administration retain the exclusive right to develop and periodically implement a supplemental retirement program in addition to the one specified in this contract. Eligibility and other criteria shall be determined solely by the Administration.
Supplemental Retirement Program. The Town will offer a voluntary defined contribution plan to the same extent it is offered for all other Town employees.
Supplemental Retirement Program. Employees who retired between the first full pay period in October, 2001 and the first full pay period in July, 2004 are eligible to participate in a Supplemental Retirement Program (SRP). Eligible employees may participate in the City’s Supplemental Retirement Program as defined and described in the ‘Side Letter of Agreement between the City of Ontario and the Ontario Police Management Group.’ Eligible employees must complete an ‘Individual Agreement to Participate in the City’s Supplemental Retirement Program’ to participate in the program.
Supplemental Retirement Program. Officers may elect to participate in the tax sheltered, supplemental 457 retirement plan administered by the International City Management Association (ICMA) Retirement Corporation, or other retirement plans approved by the City. Employee contributions will be made through payroll deductions up to the IRS approved maximum annual contribution limits.
Supplemental Retirement Program. The Company shall establish for Executive and make contributions to fund an additional defined contribution supplemental retirement program (the "SRIP"), designed to provide Executive with a retirement annuity, at age 65, in an amount, taken together with other pension and social security benefits to which Executive may be entitled at age 65, equal to 35% of his final average compensation from Base Salary and Annual Bonus for the last three years of his employment. The SRIP shall be based on the assumptions set forth on Schedule 1 to this Agreement. The annual benefit will be reduced if Executive's employment terminates before 2008, unless, subject to approval of by the Board, such termination occurs as a result of a termination of employment by the Company without Cause or Executive for Good Reason either following or 3 months prior to a Change in Control. The annual contribution shall be calculated each year, and Executive acknowledges that the amount of the contribution will likely be different from the amounts shown in Schedule 1. Executive further acknowledges that the contribution will vary based on the performance of the Company and whether Executive meets or exceeds targeted bonus levels under the Annual Bonus Plan. LTIP participation shall not be included in calculating average compensation above.
Supplemental Retirement Program. The Company shall establish for Executive and make contributions to fund an additional defined contribution supplemental retirement program (the “SRIP”), designed to provide Executive with a retirement annuity, at age 65, in an amount, taken together with other pension and social security benefits to which Executive may be entitled at age 65, equal to 35% of his final average compensation from Base Salary and Annual Bonus for the last three years of his employment. The SRIP shall be based on the assumptions set forth on Schedule 1 to this Agreement. The annual benefit will be reduced if Executive’s employment terminates before 2008. The annual contribution shall be calculated each year, and Executive acknowledges that the amount of the contribution will likely be different from the amounts shown in Schedule 1. Executive further acknowledges that the contribution will vary based on the performance of the Company and whether Executive meets or exceeds targeted bonus levels under the Annual Bonus Plan. LTIP participation shall not be included in calculating average compensation above. 7.
Supplemental Retirement Program. Upon establishment of an investment account with an authorized vendor and receipt of a salary reduction agreement, the District shall contribute $25.00 per month into a teacher’s 403(b) supplemental retirement savings account. This contribution will be in place for the 2019-20 school year only.
Supplemental Retirement Program. 1. Employees are allowed to convert a portion of their sick leave balance to one of the City's qualified deferred compensation plans. Sick leave hours converted to a deferred compensation plan will be converted at 75 percent of the employee's hourly rate at the time the hours are converted. This will occur during the month of September of each year and cover hours as of June 30 of that year. Employees will not be able to take the hours in the form of cash for current uses. Employees' remaining sick leave balances will continue to be paid at 25 percent of the employee's hourly rate at retirement or termination. Xxxx leave hours eligible to convert to a deferred compensation plan are subject to the following restrictions:
Supplemental Retirement Program. Xxxxx will be eligible to participate in a to-be-created nonqualified Supplemental Employee Retirement Program or an equivalent program. On each anniversary of Xxxxx’x employment under this Agreement, UDF IV will fund her account in an amount equal to 10% of her Base Salary and her account will accrue interest at a compounded rate of 10% per annum.
Supplemental Retirement Program. A. No employee hired after July 1, 2002, shall be eligible for the benefits of this Article.
