Common use of Amounts of Contribution Clause in Contracts

Amounts of Contribution. Effective on August 22, 2011, the County shall contribute 4.47% of an employee's gross base salary towards the DCP, and each employee shall contribute 3.03% of his/her gross base salary, by payroll deduction, towards the DCP, for a combined total of 7.5%. Effective on June 24, 2012, tThe County shall contribute the full 7.5% of an employee's gross base salary towards the DCP. In no case should an employee's self-contribution, when combined with the County's contribution, exceed the annual limit established in accordance with applicable provisions of the Internal Revenue Code, and United States Treasury Department regulations in effect at the time of implementation and as such code may be amended and changed from time to time.

Amounts of Contribution. Effective on August 22, 2011, the County shall contribute 4.47% of an employee's gross base salary towards the DCP, and each employee shall contribute 3.03% of his/her gross base salary, by payroll deduction, towards the DCP, for a combined total of 7.5%. Effective on June 24, 2012, tThe the County shall contribute the full 7.5% of an employee's gross base salary towards the DCP. In no case should an employee's self-contribution, when combined with the County's contribution, exceed the annual limit established in accordance with applicable provisions of the Internal Revenue Code, and United States Treasury Department regulations in effect at the time of implementation and as such code may be amended and changed from time to time.