ANNUITY CONTRIBUTIONS Sample Clauses
The Annuity Contributions clause defines the obligations of one or more parties to make regular payments into an annuity plan, typically as part of an employee benefit or retirement arrangement. It specifies the frequency, amount, and method of these contributions, and may outline who is responsible for making the payments—such as an employer, employee, or both. This clause ensures that funds are systematically set aside to provide future income, addressing the need for financial security in retirement or at a predetermined time.
ANNUITY CONTRIBUTIONS. The number of annuity programs available through payroll deductions will be limited to no more than seven (7) and the minimum number of participants enrolled for any new program will be five (5) employees. (See Letter of Agreement) Any member hired after June 30, 2010 will be required to make annuity contributions to one of the Michigan Retirement Investment Consortium core vendors. The Board and the Association recognize the importance of each employee pursuing an active retirement savings program and in providing sound investment alternatives to assist them in achieving their retirement savings goal. The parties agree that MEA Financial Services Products, along with any other mutually selected investment providers shall be named as vendor(s) in the 403(B) plan document as appropriate under IRS regulations.
ANNUITY CONTRIBUTIONS. The Employer contributions for annuity, as listed in Addendum A (Wage Rates), shall be paid into "The Employers' and Illinois Operative Plasters' and Cement Masons' Annuity Fund" for employees represented by Area #539 for work performed in Adams, Brown, ▇▇▇▇, ▇▇▇▇▇▇▇▇▇, Hancock, McDonough, Menard, Pike, ▇▇▇▇▇▇▇▇ and Sangamon Counties, the northeastern part of ▇▇▇▇▇▇▇▇▇▇ County including the cities of Nokomis, Ohlman and Wenonah and the Southern half of ▇▇▇▇▇▇▇▇▇ County in Illinois, provided said fund complies with Section 302 (c) of the ▇▇▇▇-▇▇▇▇▇▇▇ Act, remains valid under provisions of ERISA, and maintains a "Qualified" and "Exempt" status under the U.S. Internal Revenue Code.
ANNUITY CONTRIBUTIONS. The number of annuity programs available through payroll deductions will be limited to no more than seven
ANNUITY CONTRIBUTIONS. Applications to initiate tax-sheltered annuity programs in approved programs may be submitted at any time during the school year. The effective date for the annuity program will be the payroll period following the month an annuity application is submitted to the District office. Annuity changes may be made only once in a calendar year. Payroll deductions for annuities will be made on a monthly basis in accordance with the provisions of the annuity application. There shall be a minimum of seven (7) employees who have signed up to participate in a tax-sheltered annuity before it is approved by the Board of Education.