ELIGIBILITY OF LEAVE BALANCE TO DEFERRED COMPENSATION Sample Clauses

ELIGIBILITY OF LEAVE BALANCE TO DEFERRED COMPENSATION. An employee may elect to defer into their deferred compensation account in the City of Burbank §457 Deferred Compensation Plan the monetary equivalent of their unused Universal Leave, sick, and vacation leave, up to 500 hours each year, during the final three years of employment prior to their retirement. It is the understanding of the parties that the use of sick leave for this purpose will be under the same conditions (paid at 50% of full value and employees must be at least 50 years of age) as when an employee is compensated for unused sick leave upon retirement. This agreement is subject to all limits and regulations governing a §457 plan as enforced by the Internal Revenue Service, including deferral limits and the timing of each deferral election form.
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Related to ELIGIBILITY OF LEAVE BALANCE TO DEFERRED COMPENSATION

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

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  • Deferred Compensation Program ‌ Unit members shall continue to be eligible to join the County’s Deferred Compensation Plan. Said employees will be bound by the same Plan, rules and participation agreements as are generally applicable to other County employees. DSA acknowledges that County retains the right to alter, amend, or repeal the current plan, rules, and participation agreements, at any time. The County shall not charge an administrative fee to participating employees.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who:

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

  • Partial Employer Contribution - Basic Eligibility The following employees covered by this Agreement receive the full Employer Contribution for basic life coverage, and at the employee's option, a partial Employer Contribution for health and dental coverages if they are scheduled to work at least fifty (50) percent but less than seventy-five (75) percent of the time. This means:

  • Overtime Eligibility and Compensation Employees are eligible for overtime compensation under the following circumstances:

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