Vesting of contributions. Lecturer Faculty are fully and immediately vested in the accrued benefits arising from their contributions. For purposes of vesting of employer contributions, years of service begins when a status faculty member starts contributing to the retirement plan at a level, either 6%, 4% or 2.5%, which is matched by a USNH contribution. After three (3) years or more of service as defined in the University System of New Hampshire 403(b) Summary Plan Provisions, the faculty member is 100% vested in the employer contributions.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
