Automatic Enrollment for New Employees Sample Clauses

Automatic Enrollment for New Employees. Notwithstanding Section 2.2(a)(1), an Employee who subject to this Section 2.5 and who has not completed an Enrollment Agreement within 30 days of receiving the notice in subsection (b) is deemed as soon as practicable thereafter to have elected to become a Participant pursuant to an Enrollment Agreement and to have his Benefitable Compensation reduced by 3% (and have that amount contributed as a pre-tax elective deferral on his behalf), at the time of such payroll period and to have agreed to be bound by all the terms and conditions of the Plan. Contributions made under this automatic enrollment provision shall be made to the Investment Fund(s) selected for this purpose by the Board, until the Employee makes a designation of Investment Funds. Any Employee who automatically becomes a Participant under this Section 2.5 shall be subject to the Beneficiary designation rules in Sections 9.1 and 9.2.
Sample 1
AutoNDA by SimpleDocs
Automatic Enrollment for New Employees. Any new Employee is deemed to have elected to become a Participant and to have his or her or her Compensation reduced by 5% (and have that amount contributed as an Elective Deferral on his or her or her behalf), effective 30 days from the time the Employee is hired, and to have agreed to be bound by all the terms and conditions of the Plan.
Sample 1

Related to Automatic Enrollment for New Employees

  • Probation for Newly Hired Employees (a) The Employer may reject a probationary employee for just cause. A rejection during probation shall not be considered a dismissal for the purpose of Article 11.2

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Restricted Employment for Certain State Personnel Contractor acknowledges that, pursuant to Section 572.069 of the Texas Government Code, a former state officer or employee of a state agency who during the period of state service or employment participated on behalf of a state agency in a procurement or contract negotiation involving Contractor may not accept employment from Contractor before the second anniversary of the date the Contract is signed or the procurement is terminated or withdrawn.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Supplemental Executive Retirement Plan The Executive shall participate in the Company's Unfunded Pension Plan for Selected Executives (the "SERP").

  • SALARY DETERMINATION FOR EMPLOYEES IN ADULT EDUCATION [Not applicable in School District No. 62 (Sooke)]

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Eligible Employees Regular and probationary, full time and less than full-time employees (on a pro rata basis) are eligible to participate in this program. Sec. 903 COURSES ELIGIBLE: The following criteria will be used in determining eligibility for reimbursement:

  • Eligible Employee For purposes of the SIMPLE 401(k) Plan provisions, any Employee who is entitled to make Elective Deferrals under the terms of the SIMPLE 401(k) Plan.

  • Form B - Contractor’s Annual Employment Report Throughout the term of the Contract by May 15th of each year the Contractor agrees to report the following information to the State Agency awarding the Contract, or if the Contractor has provided Contract Employees pursuant to an OGS centralized Contract, such report must be made to the State Agency purchasing from such Contract. For each covered consultant Contract in effect at any time between the preceding April 1st through March 31st fiscal year or for the period of time such Contract was in effect during such prior State fiscal year Contractor reports the: 1. Total number of Employees employed to provide the consultant services, by employment category. 2. Total number of hours worked by such Employees.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!