Initial Contribution Level definition

Initial Contribution Level. For the first full year of active participation in the USNH Retirement Plan, if a Bargaining Unit Member contributes 6%, the USNH contribution will be 6%.
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Examples of Initial Contribution Level in a sentence

  • Those who chose ARC and those hired and enrolled between 1994 and June 30, 2011 receive an additional 1% USNH contribution to their retirement plans, except at the Initial Contribution Level.

  • After one full year of participation at the Initial Contribution Level, the University System contribution will increase to the Standard Contribution Level of 10%.

  • If the Initial Contribution Level is elected, six percent (6%) of the Employee’s base salary will be contributed into the USNH Retirement Plan along with the appropriate Employer matching contribution.

  • If the Initial Contribution Level is elected, six percent (6%) of the Employee’s base salary will be contributed into the USNH Retirement Plan.

  • After one full year of participation at the Initial Contribution Level, the University System contribution will increase to the Standard Contribution Level.

Related to Initial Contribution Level

  • Initial Contribution means that contribution each Participant has made or agrees to make pursuant to Section 5.1.

  • Annual Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;

  • Actual Contribution Percentage means the average of the Contribution Percentages of the Eligible Participants in a group.

  • Average Contribution Percentage means the average of the Contribution Percentages of the Eligible Participants in a group.

  • Group II Allocation Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is (i) the Group II Principal Remittance Amount for such Distribution Date, and the denominator of which is (ii) the Principal Remittance Amount for such Distribution Date.