403(b) Accounts. Employer contributions shall be deposited into the 403(b) account selected by employee to receive Employer contributions, provided such account will accept Employer Non-elective Contributions. If the employee does not designate a 403(b) account to receive Employer’s contributions, or if the account designated will not accept Employer’s Non-elective Contributions for any reason, then Employer shall deposit contributions, in the name of the employee, into the endorsed 403(b) program.
403(b) Accounts. The District and the BPA will mutually select a single 403(b) provider for remittal of non- elective employer contributions.
403(b) Accounts. Employer Non-Elective Contributions shall be deposited into the NYSUT endorsed 403(b) provider, offered through ING Life and Annuity Company, in the name of the employee.
403(b) Accounts. Employer contributions from both the Retirement Incentive and unused sick leave as outlined in Article XXI of the Collective Bargaining Agreement shall be deposited into an ING 403(b) account. Each individual for whom an employer contribution is made, will designate the specific ING 403(b) investment accounts, into which the employer contribution shall be made.
403(b) Accounts. The District will provide an IRC/403b plan for the teachers’ salary deferrals. The District shall assume the cost of such plans third party administrator.
403(b) Accounts. Employer contributions shall be deposited into the 403(b) account selected by the Employee. If the Employee does not designate a 403(b) account to receive Employer’s contributions then the Employer shall deposit contributions, in the name of the employee, into any approved vendor under the District’s written plan.
403(b) Accounts. Employer contributions shall be deposited into the ING Life Insurance and Annuity Company (“ING”) 403(b) account of each recipient employee. If the employee does not have an ING 403(b) account, the Employer shall deposit the employer contributions in the name of the employee, into an ING account established in the employee’s name. Agents from ING will be allowed reasonable access to the School District’s facilities in order to assist the employees and District’s representatives in fulfilling applicable 403(b) legal requirements. Upon the request of the District, the ING agents will assist District’s representatives in calculating the annual maximum allowable 403(b) contribution under the Internal Revenue Code, based upon salary and payroll information provided to the ING representative by the District.
403(b) Accounts. Employer Non-Elective contributions shall be deposited into mutually agreed 403(b) provider(s).
403(b) Accounts. Employer contributions from both the Retirement Incentive and unused sick leave as outlined in Article XIX of the Collective Bargaining Agreement shall be deposited into a Legend Group 403(b) account established with the vendor of the unit member’s choosing, so long as such vendor is a Legend Group/Adserv appointed investment provider that meets all IRS regulations and there is no additional cost to the District. Each individual for whom an employer contribution is made, will designate the Legend Group/Adserv appointed investment provider investment accounts, into which the employer contribution shall be made.
403(b) Accounts. Employer contributions shall be deposited into the 403(b) account initially selected by the employee to receive Employer contributions, provided such account will accept Employer Non-elective Contributions. If the employee does not designate a 403(b) account to receive Explanation for TRS Categories: Under Education law §50 I (l I )(a), the calculation of a pre-June 17. 1971 TRS Tier I member's last five years final average salary (upon which a member's life-time pension is, in part. calculated) includes any non-ordinary income (such as termination pay) which is received as compensation prior to December 31st of the year of retirement. Thus. such a member would benefit from receiving, as compensation, in their final year of employment that portion of the Employer Non-elective contribution. which is in excess of the maximum Contribution Limits of IRC§4 I 5. Employer's contributions, or if the account designated will not accept Employer's Non elective Contributions for any reason, then Employer shall deposit contributions, in the name of the employee, into the endorsed 403(b) program account with VOYA Financial.
