403b Defined Contribution Sample Clauses

403b Defined Contribution. Subd. 1. District is to provide a 403b matching option subject to IRS regulations and M.S. 356.24, subd. 1(5) II governing matching Tax-Sheltered Annuities (TSA). Said 403b shall be in the name of the employee and can be taken with the employee upon severance from the district. A teacher who was employed by this School District as of May 30, 2001, and who has at least 18 years of full-time employment, with this District on the date his or her employment ends, shall receive a payment to his or her 403b post-retirement account in the amount of $31,276, less any District 403b contribution/match that the teacher was eligible to receive during their entire term of employment, including related interest earnings on those contributions at an annual rate of 6% (whether or not the teacher actually participated in the 403b Contribution plan). This deduction would include any and all eligible years of contribution which were not accessed by the teacher. See Appendix 2 for the deduction schedule.
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Related to 403b Defined Contribution

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  • User Contributions The Website may contain message boards, chat rooms, personal web pages or profiles, forums, bulletin boards, and other interactive features (collectively, "Interactive Services") that allow users to post, submit, publish, display, or transmit to other users or other persons (hereinafter, "post") content or materials (collectively, "User Contributions") on or through the Website. All User Contributions must comply with these Terms of Use. Any User Contribution you post to the site will be considered non-confidential and non- proprietary. By providing any User Contribution on the Website, you grant us and our affiliates and service providers, and each of their and our respective licensees, successors, and assigns the right to use, reproduce, modify, perform, display, distribute, and otherwise disclose to third parties any such material. You represent and warrant that: • You own or control all rights in and to the User Contributions and have the right to grant the license granted above to us and our affiliates and service providers, and each of their and our respective licensees, successors, and assigns. • All of your User Contributions do and will comply with these Terms of Use. You understand and acknowledge that you are responsible for any User Contributions you submit or contribute, and you, not the Company, have full responsibility for such content, including its legality, reliability, accuracy, and appropriateness. We are not responsible or liable to any third party for the content or accuracy of any User Contributions posted by you or any other user of the Website.

  • Contribution Rates ‌ The Employer's contribution rate to the pension fund shall be 8% of each employee's gross monthly earnings. The Employer shall also deduct from each eligible employee's gross monthly earnings 6% and remit that amount together with the Employer's required contribution on behalf of each employee to the pension fund.

  • Retirement Contribution The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications. Corrections Firearms Instructor Oil & Hazardous Material Responder I Oil & Hazardous Material Responder II

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