457 Deferred Compensation Plan. The District will contract with a minimum of 3 contract plan administrators to provide a 457 Deferred Compensation Plan, which is employee paid.
457 Deferred Compensation Plan. Employees have the option to participate at their expense in the Xxxxxx County 457 Deferred Compensation Plan. A financial provider invests employee contributions from payroll withholding into an investment account. The County sponsors plans with Board-approved financial providers.
457 Deferred Compensation Plan. “457 Plan”): All Employees are eligible to voluntarily participate in the 457 Deferred Compensation Plan, in accordance with the terms of the plan.
457 Deferred Compensation Plan. The Board will provide 457 Deferred Compensation Program through the OASBO joinder agreement with ING Life Insurance and Annuity Company.
457 Deferred Compensation Plan. The District will deposit into a 457 Deferred Compensation Plan a sum of $15,000.00 per year commencing in 2020-2021, and each year thereafter through the conclusion of the Superintendent’s employment with the District, which said monies will represent Superintendent’s 457 Deferred Compensation Plan. The Superintendent shall be deemed “vested” in the 457 Compensation Plan upon the completion of the 2023-2024 school year.
457 Deferred Compensation Plan. Effective the first full pay period following July 1, 2019 all employees who are classified as “New Members” by PERS or “Group C’ by the MOA will receive $50 per month contributed into their 457 deferred compensation plan. Eligible employees must have an active 457 plan in order to receive City contirbutions. The City will continue to provide the basic level (Level 1) of 1959 Survivor Benefit to eligible employees in accordance with California Government Code §21571.
457 Deferred Compensation Plan. Employees may elect to contribute to the City’s 457 plan through a salary reduction over twenty-six (26) pay periods. In addition, beginning the first full pay period following adoption of the agreement, the City will contribute the equivalent of 1% of base pay into the deferred compensation account for each bargaining unit member. Payments will be made bi-weekly and bargaining unit members must have an active deferred compensation account to qualify. The maximum amount contribution shall be governed by the Internal Revenue Service regulations related to 457 plans.
457 Deferred Compensation Plan i. Unit members may contribute a portion of their income on a tax‐deferred basis as provided in the 457 plan.
ii. Unit member participation in the 457 Plan may be elected at any time. Enrollment will be effective during the first full pay period after enrollment.
iii. All funds contributed to the 457 Plan are held by a plan administrator in trust in the Employer’s name for the exclusive benefit of the contributing unit members and their named beneficiaries.
iv. Because the Employer does not match funds contributed to the 457 Plan, unit member contributions are immediately vested.
457 Deferred Compensation Plan. [Category 1, 2, 3]
457 Deferred Compensation Plan. A 457 deferred compensation plan shall be made available, on a voluntary basis, to all unit members.
