Common use of 403(b) Plan Clause in Contracts

403(b) Plan. ‌ The Committee agrees to contribute to a 403B Plan for all bargaining unit members. A bargaining unit member who wishes to participate in the program must notify the Superintendent in writing no later than the April 15th preceding the first year of participation. The Committee will match the first three hundred fifty dollars ($350.00) contributed by each employee. The School Committee will not be responsible for any administrative costs relating to this program and the only legal responsibility related to the 403B Plan will be to transmit the contribution to the appropriate vendor or vendors.

403(b) Plan. ‌ The Committee agrees to contribute to a 403B Plan for all bargaining unit members. A bargaining unit member who wishes to participate in the program must notify the Superintendent in writing no later than the April 15th April15th preceding the first year of participation. The Committee will match the first three hundred fifty dollars ($350.00) contributed by each employee. The School Committee will not be responsible for any administrative costs relating to this program and the only legal responsibility related to the 403B Plan will be to transmit the contribution to the appropriate vendor or vendors.