Rate of contribution definition

Rate of contribution means the effective annual rate of usual benefit contributions for all hours, public and private, worked during the year by an employee (commonly referred to as "annualization" of benefits). The only exemp- tion to the annualization requirements is for defined contribu- tion pension plans that have immediate participation and vesting. [2019 c 242 § 2; 1989 c 12 § 6; 1985 c 15 § 1; 1965 ex.s. c 133 § 1; 1945 c 63 § 3; Rem. Supp. 1945 § 10322-22.]
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Rate of contribution means the hourly credit of the amount irrevocably made by an employer to a fund, plan or program pursuant to division (E)(2) of section 4115.03 of the Revised Code.
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Rate of contribution means the effective annual rate of
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Examples of Rate of contribution in a sentence

  • Every employer must pay all usual benefits owing to its14 employees by the regularly established deadline for those benefits.15 (7) "Rate of contribution" means the effective annual rate of16 usual benefit contributions for all hours, public and private, worked17 during the year by an employee (commonly referred to as18 "annualization" of benefits).


More Definitions of Rate of contribution

Rate of contribution means the effective annual rate of usual benefit contributions for all hours, public and private, worked during the year by an employee (commonly referred to as "annualization" of benefits). The only exemption to the annualization requirements is for defined contribution pension plans that have immediate participation and vesting.
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Rate of contribution means up to 10% of the Participant’s Salary, as elected by the Participant on the Participant’s filing of Enrolment Instructions;
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Rate of contribution means the effective annual rate of usual benefit contributions for all hours, public and private, worked during the year by an employee (commonly referred to as “annualization” of benefits). The only exemption to the
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Rate of contribution means in relation to a Member at any date the percentage rate determined pursuant to the relevant provisions of clause D.5.3 then being used to determine the contributions paid to the Fund by the Member. D.5.3 Contribution by Members.
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Related to Rate of contribution

  • In-kind contribution means a contribution of goods or services received by a candidate committee, joint candidates committee, political committee, continuing political committee, political party committee, or legislative leadership committee, which contribution is paid for by a person or entity other than the recipient committee, but does not include services provided without compensation by an individual volunteering a part of or all of his or her time on behalf of a candidate or committee.

  • Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.