Mandatory Employee Contributions Clause Examples
The Mandatory Employee Contributions clause requires employees to make specified payments, often as a condition of participating in certain benefit plans or retirement schemes. Typically, this clause outlines the percentage or amount to be deducted from an employee's salary and may detail the timing and method of these contributions. Its core function is to ensure consistent funding for employee benefit programs by obligating employees to contribute, thereby supporting the sustainability and shared responsibility of such plans.
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Mandatory Employee Contributions. Election 9(c) or 9(d) below may cause allocation Compensation to fail
Mandatory Employee Contributions. See Section 3.04(A)(3) and Election 18.
Mandatory Employee Contributions. (A)(3)). The Mandatory Employee Contributions under Election 6(a) are subject to the following additional elections. The Plan Administrator will hold and administer Mandatory Employee Contributions as pretax Nonelective Contributions, but will allocate them to a separate sub-account within Participants’ Accounts.
Mandatory Employee Contributions. In applying any Plan definition which references Section 1.11 Compensation, where the Employer in this Election 8 elects more than one Compensation definition for allocation purposes, the Plan Administrator will use W-2 wages for such other Plan definitions if the Employer has elected W-2 wages for any Contribution Type or Participant group under Election 8. If the Employer has not elected W-2 wages, the Plan Administrator for such other Plan definitions will use 415 Compensation.]
Mandatory Employee Contributions. (a) Each employee of the Employees’ Retirement System, shall contribute to the 6 retirement system a percentage of the “Member’s Compensation” according to
Mandatory Employee Contributions. General Management Unit employees shall be eligible to participate, at their own expense, in a Money Purchase Plan in accordance with Section 401(a) of the Internal Revenue Code. All eligible Unit employees shall make a mandatory bi-weekly contribution to this plan of $138.46 through payroll deduction, for a total mandatory employee contribution of $3,600 per year. All Unit employees shall make an irrevocable election at the time of hire or appointment into the Unit to designate a percentage of accrued General Leave, if any, to be contributed to the employee’s 401(a) account upon separation from service.
Mandatory Employee Contributions. (no individual elections permitted): The Employer and Association agree that the Association’s compensation package will be changed such that eligible employees shall receive additional benefits in the form of HRA VEBA Plan contributions equal to $50, which shall be contributed on a bi-weekly basis, and each eligible employee’s salary shall be reduced by an equal amount. Such contributions shall be made on behalf of all Association employees defined as eligible and shall be considered and referred to as Employee contributions.
Mandatory Employee Contributions. If elected in the Adoption Agreement, then each Participant must make Mandatory Employee Contributions under the terms and conditions as elected in the Adoption Agreement, in order to receive an allocation of Employer contributions and Forfeitures for an Allocation Period. Mandatory Employee Contributions will be allocated to a Participant’s Mandatory Employee Contribution Account in which the Participant will have a 100% Vested Interest. A Participant can elect to discontinue (or resume) Mandatory Employee Contributions in accordance with procedures established by the Administrator. Mandatory Employee Contribution Accounts will be administered as follows:
Mandatory Employee Contributions. (4) Employee (after-tax) Contributions; (5) Additional Matching Contributions; or (6) Rollover Contributions. With respect to allocation conditions for Nonelective Contributions for former Employees, see Election 25(e). To receive an allocation of Matching Contributions,
Mandatory Employee Contributions. Three types of employee contributions will be made to the RHRA, as specified below. These employee contributions are mandatory. No employee will have any right to elect to receive cash or any benefit in lieu of the contributions.