Common use of 457 Deferred Compensation Clause in Contracts

457 Deferred Compensation. The employer shall pay on a dollar-for-dollar matching basis a percentage of wages into a deferred compensation savings program. The match applies to employees who have completed probation, except Relief Transit Operators who shall be eligible to participate after six (6) months of employment. The match shall be based on years of agency service. Employees participating in the program will receive an annual match according to the following schedule: Employees with: Shall receive up to: Less than 10 years of service 4.25% of wages matching contribution per calendar year 10 – 14 years of service 5.25% of wages matching contribution per calendar year 15 or more years of service 6.0% of wages matching contribution per calendar year Long-Term Disability:

457 Deferred Compensation. The employer Employer shall pay on a dollar-for-dollar matching match basis a percentage of wages into a deferred compensation savings program. The match applies to employees who have completed probation, except Relief Transit Operators who shall be eligible to participate after six (6) months of employmenttheir initial probationary period. The match shall be based on years of agency service. Employees participating in the program will receive an annual match according to the following schedulefollowing: Employees with: Shall receive up to: Less than 10 years of service 4.25% of wages matching contribution per calendar year 10 – 10-14 years of service 5.25% of wages matching contribution per calendar year 15 – or more years of service 6.0% of wages matching contribution per calendar year Long-Term Disability:year

457 Deferred Compensation. The employer shall pay on a dollar-for-dollar matching basis a percentage of wages into a deferred compensation savings program. The match applies to employees who have completed probation, except Relief Transit Operators who shall be eligible to participate after six (6) months of employment. The match shall be based on years of agency service. Employees participating in the program will receive an annual match according to the following schedule: Employees with: Shall receive up to: Less than 10 years of service 4.25% of wages matching contribution per calendar year 10 – 14 years of service 5.25% of wages matching contribution per calendar year 15 or more years of service 6.0% of wages matching contribution per calendar year Long-Term Disability:year

457 Deferred Compensation. The employer shall pay on a dollar-for-dollar matching basis a percentage of wages into a deferred compensation savings program. The match applies to employees who have completed probation, except Relief Transit Operators who shall be eligible to participate after six (6) months of employment. The match shall be based on years of agency service. Employees participating in the program will receive an annual match according to the following schedule: Employees with: Shall receive up to: Less than 10 years of service 4.25% of wages matching contribution per calendar year 10 – 14 years of service 5.25% of wages matching contribution per calendar year 15 or more years of service 6.0% of wages matching contribution per calendar year Long-Term Disability:year