Tax Sheltering Sample Clauses

Tax Sheltering. The City shall offer to PPA members the opportunity to participate in tax sheltering and/or avoidance health care programs and accounts, under the same terms and conditions provided to non-represented employees.
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Tax Sheltering a. ESP contribution to the Illinois Municipal Retirement Fund shall be tax sheltered.
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Tax Sheltering. Teacher contribution to Illinois Teachers' Retirement System (9% of the TRS schedule and 9.8901% of the IRS schedule) shall be tax sheltered and paid by the Board. Additionally, each teacher’s THIS contribution (0.88%) shall be tax sheltered to the extent allowable by the IRS and shall be paid by the Board.
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Tax Sheltering. The Board shall offer to shelter the educator’s share of insurance premium costs eligible to be excluded from gross income under the Internal Revenue Code.
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Tax Sheltering. The Board shall offer to shelter the member’s share of the insurance premium costs eligible to be excluded from gross income under the Internal Revenue Code. Members of the Bargaining Unit may participate in 403(b) and 457(b) tax sheltered annuity programs through payroll deduction.
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Tax Sheltering. Any program on tax sheltering of employees’ SERS contribution accepted by the Teachers Association (STRS) shall be accorded to OAPSE.
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Tax Sheltering. The Board shall offer to shelter the employee’s share of insurance premium costs eligible to be excluded from gross income under the Internal Revenue Code.
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Related to Tax Sheltering

  • Tax Sheltered Annuities The SPS shall continue to comply with the law(s) regarding Tax Sheltered Annuities.

  • Compliance with Code Section 409A The intent of the parties is that payments and benefits under this Agreement comply with or are exempt from Section 409A of the Code and this Agreement shall be interpreted and construed in a manner that establishes an exemption from (or compliance with) the requirements of Code Section 409A. Any terms of this Agreement that are undefined or ambiguous shall be interpreted in a manner that complies with Code Section 409A to the extent necessary to comply with Code Section 409A. Notwithstanding anything herein to the contrary, (i) if, on the date of termination, the Executive is a “specified employee” as defined in Section 409A of the Code, and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such termination of employment is necessary in order to prevent any accelerated or additional tax under Code Section 409A, then the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Executive) until the date that is the first business day of the seventh month following the date of termination (or the earliest date as is permitted under Code Section 409A), and (ii) if any other payments of money or other benefits due to the Executive hereunder could cause the application of an accelerated or additional tax under Code Section 409A, such payments or other benefits shall be deferred if deferral will make such payment or other benefits compliant under Code Section 409A. In the event that payments under this Agreement are deferred pursuant to this Section in order to prevent any accelerated tax or additional tax under Code Section 409A, then such payments shall be paid at the time specified under this Section without any interest thereon. Notwithstanding anything to the contrary herein, to the extent required by Code Section 409A, a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A of the Code and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean separation from service. Each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments.

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