Benefit Accrual Rate. Rate at which a particular benefit is accumulated; determined by the employee's continuous service with Genesee County. This rate increases in an incremental fashion as years of continuous service grow.
Benefit Accrual Rate. It is understood by all concerned that the Benefit Accrual rates may be modified by the Trustees at any time upon proper notice as required by law. In consideration of the EMPLOYER's aforesaid contributions to the TRUST as herein above provided and for so long as the EMPLOYER's participation in the TRUST is accepted by the Trustees, the Trustees will, beginning with the date of receipt by the TRUST of the EMPLOYER's first said contribution and continuing for such part of the duration of this Agreement as the EMPLOYER fully complies with the terms of this clause in all respects, extend and make available to employees covered by this Agreement the pension benefits for which such employees are eligible under the Declaration of TRUST, as amended from time to time, which is by this reference incorporated herein and made a part hereof.
Benefit Accrual Rate. The benefit Accrual rate that applies to these Employees is that the monthly pension benefit of an Employee at age 65 years shall be an amount equal to eighteen and twenty-five hundredths percent (18.25%) a rate to be determined by the Trust of total contributions paid to the Trust on the service of such Employee divided by twelve (12) in accordance with the provisions of the Declaration of Trust of the Steelworkers Pension Trust. It is understood by all concerned that the foregoing Benefit Accrual Rates may be modified by the Trustees at any time upon proper notice as required by law. In consideration of the EMPLOYER’s aforesaid contributions to the TRUST as herein above provided and for so long as the EMPLOYER’s participation in the TRUST is accepted by the Trustees, the Trustees will, beginning with the date of receipt by the TRUST of the EMPLOYER’s first said contribution and continuing for such part of the duration of the Agreement as the EMPLOYER fully complies by this Agreement the pension benefits for which such Employees are eligible under the Declaration of Trust, as amended from time to time, which is by this reference incorporated herein and made a part hereof.
Benefit Accrual Rate. The Benefit Accrual rate that applies to these Employees is that the monthly pension benefit of an Employee at age 65 years shall be an amount equal to twenty-three percent (23%) of total contributions paid to the Trust on the service of such Employee divided by twelve (12) in accordance with the provisions of the Declaration of Trust of the Steelworkers Pension Trust. It is understood by all concerned that the foregoing Benefit Accrual Rates may be modified by the Trustees at any time upon proper notice as required by law. Alameda Health System (AHS) offers two voluntary deferred compensation plans — the AHS 403(b) Plan and/or the AHS 457(b) Plan (the “Plans”). The Plans provide for voluntary tax deferred employee contributions to a retirement savings account, through payroll deductions. Participants may contribute up to 100% of their eligible annual pay before taxes, up to the annual IRS limits.
