Common use of Work Phone Clause in Contracts

Work Phone. As an employee of Shepherd University, you may contribute a portion of your compensation to the Section 403(b) and/or 457(b) Plan sponsored by the West Virginia Higher Education Policy Commission (“Commission”). The amount that you choose to defer pursuant to Part I below shall not exceed the applicable limitations of Internal Revenue Code Sections 415, 402(g) and 414(v), whichever is less, as applicable. Amounts contributed to the Section 403(b) and/or 457(b) plan will be invested among the approved investment options and selected by you in a separate investment election form. Subject to any advance notice period to process this Salary Reduction Agreement “Agreement” for payroll purposes, this Agreement shall become effective as soon as the form can reasonably be entered following the return of this Agreement to the Shepherd University Human Resources Office. This Agreement replaces any previously submitted Agreement for this plan, and shall remain in effect unless revoked or modified in writing as permitted by the terms of the Section 403(b) and/or 457(b) Plans and in accordance with such form(s) as the Commission and/or Shepherd University may from time to time provide. Please be advised that any election you make below applies only to salary deferrals to the 403(b) and/or 457(b) Plan sponsored by the Commission via Shepherd University payroll contributions. If you participate in another 403(b), 457(b), or 401(k) retirement plan, you should consult your tax advisor regarding the overall limits that apply in your individual circumstances.