Amount of School District Contribution. Subd.
1. Full-time Employees: Full-time, eligible employees, shall be eligible for an annual School District matching contribution of up to $1,500 per year as follows: For each hour of accumulated sick leave in excess of four hundred (400) hours, the employee may elect to receive an amount equal to the employee’s current rate of pay times the accumulated sick leave hours in excess of four hundred (400) hours in matching deferred compensation. All hours applied to this provision shall be deducted from the employee’s accumulated sick leave.
2. Part-time Employees: Eligible part-time employees shall receive a matching contribution on a pro-rata basis equal to their percentage of full-time employment.
Section 3. Vendors: Participation in the benefits of this article is limited only to employees who select one (1) of the following vendors: MetLife Retirement Plan
Section 4. Payment: The employee’s contribution shall be made by payroll deduction.
Amount of School District Contribution. Subd.
1. Full-time Employees: Full-time, eligible employees, shall be eligible for an annual School District matching contribution of up to $1,100 per year after completing four (4) years of service.
Amount of School District Contribution. A. Full-time Teachers: Full-time, eligible teachers, after completion of three years of teaching experience with the District, shall be eligible for an annual School District matching contribution as follows: Years of Teaching Service in the District Maximum Matching Contribution 0-3 No Match
B. Part-time Teachers: Eligible part-time teachers shall receive a matching contribution on a pro rata basis equal to their percentage of full-time employment.
Amount of School District Contribution. Subd.
1. Full-time Principals: Full-time, eligible principals, upon receiving tenure in the Pelican Rapids School District as a principal, shall be eligible for an annual School District matching contribution as follows: Years of Service Maximum Matching Contribution 1-5 $ 2000.00 6+ $ 3000.00
Amount of School District Contribution. A. 2023-24 Full-time Teachers: Full-time, eligible teachers, after completion of one year of teaching experience with the District, shall be eligible for an annual School District matching contribution as follows: Years of Teaching Service in the District Maximum Matching Contribution 0-1 No Match 2-9 $ 500 10-14 $ 750 15+ $ 1,000
B. 2024-25: Full-time Teachers: Full-time, eligible teachers, after completion of one year of teaching experience with the District, shall be eligible for an annual School District matching contribution as follows: Years of Teaching Service in the District Maximum Matching Contribution 0-1 No Match 2-9 $ 750 10-14 $ 1,000 15+ $ 1,250
Amount of School District Contribution. A. For eligible teachers hired prior to October 1, 2009: The annual School District matching contribution shall not exceed the amounts listed below nor shall the annual maximum School District matching contribution exceed the amount specified by statute. The District matching contribution amount shall be made at the same time as the individual contribution by the teacher; the School District's maximum lifetime matching contribution to the matching contribution plan is $35,000 for each qualified teacher. The School District match will be in installments equal to the teacher’s contributions, September through June, pursuant to the contribution matching chart below: Year in District 2017-18 District Matching Contribution Beginning in 2018-19 District Contribution 9 – 13 $ 811 $ 1,000 14 – 18 $1,082 $1,200 19 and above $1,352 $1,500
B. For eligible teachers hired on or after October 1, 2009: The annual School District matching contribution shall not exceed the amounts listed below nor shall the annual maximum School District contribution exceed the amount specified by statute. The School District’s maximum lifetime contribution to the 403(b) plan is $40,000 for each qualified teacher. The School District match will be in 10 equal installments, September through June, or will match the teacher contribution, whichever is less. Year in District 2017-18 District Matching Contribution Beginning in 2018-19 District Matching Contribution Section 3. Coordination with Severance Pay: The amount of severance pay under ARTICLE X, to which a teacher would be entitled at the time of the teacher's retirement, shall be reduced each year by $1000 or the amount of the district matching contribution, whichever is higher, beginning with the 2002-03 school year. The severance pay provision in the Master Agreement shall end (sunset) after the 2018-19 school year.
Amount of School District Contribution. Eligible employees, after completion of their first (1st) year of working experience in the School District, shall be eligible for an annual School District matching contribution. The annual School District matching contribution shall not exceed the amounts listed below nor shall the annual maximum District contribution exceed the amount specified by statute. The District matching contribution amount shall be made at the same time as the individual contribution by the staff member. The District match will be in twenty (20) equal installments, beginning with the first pay period in September, or will match the staff member's contribution, whichever is less. Years of Service District Maximum Annual Matching Contribution 2-5 $370 6 - 10 $550 11 - 15 $720 16 + $1,000
Amount of School District Contribution. The School District's matching contribution will be dollar- for- dollar as required under State law, up to the annual maximum match set forth below, subject to the maximum career School District contribution as set out below. The Coordinator may contribute any dollar amount up to or in excess of the maximum yearly School District match, but the annual limit to their match account shall be governed by the applicable sections of the Internal Revenue Code and the regulations promulgated thereunder. If the Coordinator contributes less than the maximum yearly allowed contribution, the School District portion will be equally reduced. The reduced amount is forfeited for that year.
1. Full-time Coordinators: Full-time, eligible coordinators, shall be eligible for an annual School District matching contribution of $2,500 with a lifetime contribution cap per coordinator as follows: For 2023-2024 maximum contribution cap of $43,441 For 2024-2025 maximum contribution cap of $44,310
Amount of School District Contribution. A. For eligible teachers hired prior to October 1, 2009: The annual School District matching contribution shall not exceed the amounts listed below nor shall the annual maximum School District matching contribution exceed the amount specified by statute. The District matching contribution amount shall be made at the same time as the individual contribution by the teacher; the School District's maximum lifetime matching contribution to the matching contribution plan is $35,000 for each qualified teacher. The School District match will be in installments equal to the teacher’s contributions, September through June, pursuant to the contribution matching chart below: Year in District District Contribution
B. For eligible teachers hired on or after October 1, 2009: The annual School District matching contribution shall not exceed the amounts listed below nor shall the annual maximum School District contribution exceed the amount specified by statute. The School District’s maximum lifetime contribution to the 403(b) plan is $40,000 for each qualified teacher. The School District match will be in 10 equal installments, September through June, or will match the teacher contribution, whichever is less.
Amount of School District Contribution. Subd. 1. Full-time Employees: Full-time, eligible employees shall be eligible for an annual School District matching contribution as follows: Years of Service Maximum Matching Contribution 3-5 (beginning year 3) up to $ 400.00 6-9 up to $ 750.00 10-14 up to $1,100.00 15+ up to $1,500.00 The school district will make matching monthly contributions to a participating employee’s 403(b) annuity plan. The plan year extends from July 1 through June 30. The annual limit on the amount employees may contribute to his/her 403(b) annuity account shall be governed by applicable law and regulation. It is understood that the district will then match the amount chosen by the employee dollar-for-dollar up to the maximum contained in the table above.
