Supplemental Retirement. Pursuant to Minn. Statutes 136F.47, 356.24 and Chapter 354C, the Employer shall deduct from the salary of each full time ASF Member a sum equal to five (5) percent of the annual salary paid after the first six thousand dollars ($6,000) up to a maximum deduction of two thousand two hundred dollars ($2,200) per each fiscal year thereafter to be paid into the state university supplemental retirement account of the retirement fund. The Employer shall make a contribution in an amount equal to the deductions made from the ASF Member's salary. Deductions shall begin in the ASF Member's third (3rd) year of full time unclassified employment in the System.
Appears in 9 contracts
Samples: Master Agreement, Master Agreement, Master Agreement
