Vacation Conversion to Deferred Compensation Sample Clauses

Vacation Conversion to Deferred Compensation. Supervisors who are at the maximum of their salary range or who attain the maximum rate of their range no later than June 30 of the fiscal year may convert up to forty (40) hours of vacation leave to deferred compensation. Supervisors must complete the appropriate forms through the employee self-service system no later than June 7 of each year. Supervisors electing to convert vacation leave must have used three (3) hours of vacation in the previous fiscal year for each hour of vacation converted up to forty (40) hours. Supervisors electing the vacation conversion shall not receive the State-paid matching contributions provided in Article 16.
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Vacation Conversion to Deferred Compensation. Supervisors who are at the maximum of their salary range or who attain the maximum rate of their range no later than June 30 of the fiscal year may convert up to forty (40) hours of vacation leave to deferred compensation. Supervisors must complete the appropriate forms through the employee self- service system no later than June 7 of each year. Effective the first full period after July 1, 2022, supervisors not at the maximum of their salary range by June 30 of the fiscal year may convert up to forty (40) hours of vacation leave to deferred compensation. Supervisors must complete the appropriate forms through employee self-service no later than June 7 of each year. Supervisors electing the vacation conversion shall not receive the State-paid matching contributions provided in Article 16.
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Vacation Conversion to Deferred Compensation. Should the employer choose to offer the option to convert vacation to deferred compensation, contingent upon adequate funding, the option of converting vacation to deferred compensation shall me made to employees covered under this agreement.
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Vacation Conversion to Deferred Compensation. Supervisors who are at the 16 maximum of their salary range or who attain the maximum rate of their range no later than 17 June 30 of the fiscal year may convert up to forty (40) hours of vacation leave to deferred 18 compensation. Supervisors must complete the appropriate forms through the employee self‐ 19 service system no later than June 7 of each year. 20 Effective the first full period after July 1, 2022, supervisors not at the maximum of their salary 21 range by June 30 of the fiscal year may convert up to forty (40) hours of vacation leave to 1 deferred compensation. Supervisors must complete the appropriate forms through employee 2 self‐service no later than June 7 of each year. 3 Supervisors electing to convert vacation leave must have used three (3) hours of vacation in the 4 previous fiscal year for each hour of vacation converted up to forty (40) hours. Supervisors 5 electing the vacation conversion shall not receive the State‐paid matching contributions 6 provided in Article 16.
Sample 1

Related to Vacation Conversion to Deferred Compensation

  • 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.

  • 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.

  • Deferred Salary Leave Plan 1. The Board shall administer a Deferred Salary Leave Plan as determined by a separate agreement.

  • 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.

  • 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.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Deferred Salary Leave Each employer ratifying this Agreement will establish or, as necessary, review and update a deferred salary leave plan consistent with Regulations issued by Canada Revenue Agency under the Income Tax Act. The parties may use the Application, Agreement, and Approval Form as a template (see Appendix H) for the deferred salary leave plan.

  • ' COMPENSATION BENEFITS In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.

  • Vacation Leave Credits for Severance Pay Where the employee requests, the Employer shall grant the employee’s unused vacation leave credits prior to termination of employment if this will enable the employee, for purposes of severance pay, to complete the first (1st) year of continuous employment in the case of lay-off.

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