Contribution Rate definition
Examples of Contribution Rate in a sentence
The Apprentice contribution rate for those Indentured after August 27, 2018 shall be as follows (as a percentage of the Journeyman Retirement Plan Contribution Rate): Un-indentured and 1st Period (45%) $.45, 2nd Period (50%) $.50, 3rd Period (55%) $.55, 4th Period (65%) $.65, 5th Period (75%) $.75, 6th Period (85%) $.85, per hour worked.
The Apprentice contribution rate for those Indentured prior to August 27, 2018 shall be as follows (as a percentage of the Journeyman Retirement Plan Contribution Rate): Un-indentured and 1st Period (50%) $.50, 2nd Period (55%) $.55, 3rd Period (60%) $.60, 4th Period (70%) $.70, 5th Period (80%) $.80, 6th Period (90%) $.90, per hour worked.
The employer must make superannuation contributions for each employee to Cbus at a rate that is not less than the charge percentage from time to time under the Superannuation Guarantee (Administration) Act 1992 (C’th)(SGA Act) or any other minimum rate of contribution prescribed by law from time to time (Minimum Contribution Rate).