Common use of Annuity Plan Clause in Contracts

Annuity Plan. During the 1999-2000 contract year the Board established and agreed to maintain a 403(b) Annuity Plan for all teachers. The maximum contribution that will be made to a 403(b) Annuity Plan by the Board shall be 2.5% of the teacher's annual base salary. The contribution made by the Board shall be an amount which reflects the appropriate percent of the teacher’s salary as set forth on Paragraph 4 of the teacher’s “Regular Teacher Contract”. All teachers hired prior to June 30, 1999 are 100% vested in the 403(b) Annuity Plan. Teachers will be eligible for Board contributions beginning with the employee’s first pay of the contract year. If a retiree dies during the time he/she is participating in the 403(b) Annuity Plan, assets in this 403(b) account shall flow to the beneficiary as stipulated in the individual’s 403(b) contract.

Annuity Plan. During the 1999-2000 contract year the The Board established and agreed agrees to maintain a 403(b) Annuity Xxxxxxx Plan for all teachers. The maximum contribution that will be made to a 403(b) Annuity Plan by the Board shall be 2.52.0% of the teacher's annual base salary. The contribution made by the Board shall be an amount which reflects the appropriate percent of the teacher’s salary as set forth on Paragraph Line 4 of the teacher’s “Regular Teacher Contract”. All teachers hired prior to after June 30, 1999 are 100% vested in the 403(b) Annuity PlanPlan after completing five (5) years with the FCCSC. Teachers will be eligible for Board contributions beginning with the employee’s first pay of the contract year. If a retiree dies during the time he/she is participating in the 403(b) Annuity Plan, assets in this 403(b) account shall flow to the beneficiary as stipulated in the individual’s 403(b) contract.

Annuity Plan. During the 1999-2000 contract year the Board established and agreed to establish and maintain a 403(b) Annuity Plan for all teachers. The maximum contribution that will be made to a 403(b) Annuity Plan by the Board shall be 2.5% of the teacher's annual base salary. The contribution made by the Board shall be an amount which reflects the appropriate percent of the teacher’s salary as set forth on Paragraph Line 4 of the teacher’s “Regular Teacher Contract”. All teachers hired prior to June 30, 1999 are 100% vested in the 403(b) Annuity Plan. Teachers will be eligible for Board contributions beginning with the employee’s first pay of the contract year. If a retiree dies during the time he/she is participating in the 403(b) Annuity Plan, assets in this 403(b) account shall flow to the beneficiary as stipulated in the individual’s 403(b) contract.