Common use of Amount of School District Contribution Clause in Contracts

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 $1,500 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 PlanPlan (July 1, 2019 through November 30, 2019 Empower Retirement Plan (Effective December 1, 2019) 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 $1,500 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 Empower Retirement Plan Section 4. Payment: The employee’s contribution shall be made by payroll deduction.