403b Matching Contribution Plan Sample Clauses

403b Matching Contribution Plan. Section 1. Beginning July 1, 2000, tenured association members who are regularly employed at least 30 hours per week shall be eligible to participate in a 403B Matching Program Contribution Plan pursuant to M.S. 356.24. Section 2. The School Board will match eligible annual Association member’s contributions of Section 3. The maximum career matching contribution by the School Board shall be $42,000. Section 4. The eligible Association member must complete a salary reduction authorization agreement before July 1 of each school year for the Association to implement any changes in the 403B Matching Contributions Plan for the next school year. Section 5. Association members on unpaid leave may not participate in the matching program while on leave. Those Association members on sabbatical leave retain the option of participation at a pro rata amount for the duration of their leave. Section 6. Management of both the portfolios of individual investments and the School District contributions shall be solely the responsibility of the Association member in whose name the investments have been made. The School District assumes no current or future liability for contributions made to these plans or investment earnings (loses), which may accrue to these portfolios as a result of investment decisions made by the Association member.

403b Matching Contribution Plan. Subd. 1. Employees who are regularly employed at least twenty (20) or more hours per week and at least five (5) years with the School District shall be eligible to participate in a 403b matching contribution plan pursuant to Minnesota Statutes §356.24.

403b Matching Contribution Plan. Section 1. Beginning July 1, 2000, tenured administrators who are regularly employed at least 30 hours per week shall be eligible to participate in a 403(b) Matching Program Contribution Plan pursuant to M.S. 356.24. Section 2. The School District will match eligible annual administrator contributions of $4,000 a year. The School District shall contribute annually an amount equal to the amount contributed by the administrator. The School District shall make the matching contribution for the year to an annuity company, which the administrator shall elect. This amount shall not exceed the maximum amount outlined in this section. (During the 2013-14 school year only, ▇▇▇▇ ▇▇▇▇▇ and ▇▇▇▇ ▇▇▇▇▇▇▇▇ will have an eligible annual administrator contribution of $4,400. The District will match this $4,400 during the 2013-14 school year only. This match and administrator contribution will revert back to $4,000 during the 2014-15 school year.) Section 3. The maximum career matching contribution by District #347 shall be Section 4. The eligible administrator must complete a salary reduction authorization agreement before July 1 of each school year for the administrator to implement any changes toward the 403(b) Matching Contributions Plan for the next school year. Section 5. Administrators on unpaid leave may not participate in the matching program while on leave. Those administrators on sabbatical leave retain the option of participation at a pro rata amount for the duration of their leave. Section 6. District 347 administrators hired before July 1, 2000 will continue to be covered under the Early Retirement language of Article XII of this agreement. The School District shall subtract any amount paid to the 403(b) Matching Contribution Plan from early retirement. The balance of the early retirement, if such Section 7. Management of both the portfolios of individual investments and the School District contributions shall be solely the responsibility of the employee in whose name the investments have been made. The school district assumes no current or future liability for contributions made to these plans or investment earnings (loses), which may accrue to these portfolios as a result of investment decisions made by the employee.

403b Matching Contribution Plan. Beginning July 1, 2000, tenured administrators who are regularly employed at least 30 hours per week shall be eligible to participate in a 403(b) Matching Program Contribution Plan pursuant to M.S. 356.24.

403b Matching Contribution Plan. After completing one (1) year of consecutive service with the Consortium, support staff (hired after July 1, 2020) will be eligible to receive matching contributions to the employee’s 403B plan, up to $250 per year. Support staff need to sign up before the first month of their payroll.

403b Matching Contribution Plan. Subd. 1. Beginning July 1, 1996, teachers who have completed the required number of years of service with the District as defined in Section 3. Subd. 7. of this Article, shall be eligible to participate in a 403B matching contribution plan pursuant to M. S. 356.24.

403b Matching Contribution Plan. Beginning the 2020-2022 school years, employees who are regularly employed at least 30 hours per week shall be eligible to participate in a 403B matching program contribution plan pursuant to M.S. 356.24. The School District shall contribute, on a monthly basis, an amount (not to exceed $500 per year) equal to the amount contributed by the employee. The School District shall make the matching contribution to a company, which the employee shall select. Employees working less than 30 hours per week may participate in the matching contribution plan on a pro-rata basis. The maximum career matching contribution by the School District shall be $15,000 per employee. Employees must complete a salary reduction authorization agreement by August 1st each school year for an employee to implement any changes toward the 403B matching plan for the next school year. Employees on unpaid leave may not participate in the matching program while on leave. Management of the portfolios of individual investments and the School District contribution shall be solely the responsibility of the employee in whose name the investments have been made. The School District assumes no current or future liability for contributions made to these plans or investment earnings or losses which may accrue to these portfolios as a result of investment decisions made by the employee.

403b Matching Contribution Plan. SECTION 1. Beginning July 1, 2007, tenured teachers who are regularly employed at RCW shall be eligible to participate in a 403B matching program contribution plan pursuant to M.S. 123B.02, Subd. 15. SECTION 2. The School District will match up to the eligible annual teacher contributions starting at the beginning of the year of employment based on the following schedule: SECTION 3. The maximum career matching contribution by the School District shall be $28,000. SECTION 4. The eligible teacher must complete a salary reduction authorization agreement before September 1 of each school year for the teacher to participate in the 403B matching contributions plan for the next school year. SECTION 5. Teachers on unpaid leaves may not participate in the matching program while on leave. Those teachers on sabbatical leaves retain the option of participation at a pro-rata amount for the duration of their leaves. SECTION 6. Teachers hired before July 1, 2007, will continue to be covered under the severance language of Article IX of this Agreement. The School District shall subtract any amount paid to the 403B matching contribution plan from severance pay. First subtracting from the “years of service” portion of severance pay will do this. The balance of the severance, if such an amount exists, shall be paid by the School District per Article IX of the Agreement. SECTION 7. Management of both the portfolios of individual investments and the School District contributions shall be solely the responsibility of the teacher in whose name the investments have been made. The School District assumes no current or future liability for contributions made to these plans or investment earnings or losses which may accrue to these portfolios as a result of investment decisions made by the teacher.

403b Matching Contribution Plan. Section 1. Eligibility: Pursuant to the provisions of M.S. 123B.02, Subd. 15. and Section 403(b) of the Federal Internal Revenue Code, the School District will make matching contributions for each employee who has completed at least one year of working experience in the School District.