Common use of 403 (b) Plans Clause in Contracts

403 (b) Plans. A. The board and the association recognize the importance of each employee pursuing an active retirement saving program and achieving their retirement savings goal. The parties agree that MEA Financial Services products shall be included in the initial list of vendors, along with any other mutually selected document as appropriate under IRS regulations. In the future should changes/additions/ reductions be made to the list of possible vendors, the parties shall meet to bargain such changes/additions/reductions. B. The parties further agree understand and agree that the regulations regarding the administration of 403(b) plans continue to evolve, and it is the intent of the parties to comply with all legal requirements. Accordingly, the parties agree that: 1. A plan document, consistent with all legal requirements shall be mutually developed by November 10, 2008. 2. All bargaining unit members are eligible to participate in the plan.

403 (b) Plans. A. The board and the association recognize the importance of each employee pursuing an active retirement saving program and achieving their retirement savings goal. The parties agree that MEA Financial Services products shall be included in the initial list of vendors, along with any other mutually selected document as appropriate under IRS regulations. In the future should changes/additions/ reductions be made to the list of possible vendors, the parties shall meet to bargain such changes/additions/reductions. B. The parties further agree understand and agree that the regulations regarding the administration of 403(b) plans continue to evolve, and it is the intent of the parties to comply with all legal requirements. Accordingly, Accordingly the parties agree that: 1. A plan document, consistent with all legal requirements shall be mutually developed by November 10, 2008. 2. All bargaining unit members are eligible to participate in the plan.