Benefits Cannot be Accumulated. The District contribution will begin when the employee initiates an eligible investment program at an amount not to exceed the benefit schedule set out in Subd. 1, above. An employee may elect to contribute to the selected program more than the District match. The CTT PLAN and only defines the limits of the District’s participation in the selected program. The District match cannot be accumulated on a year-to-year basis if an employee elects to begin participation after the first year of eligibility.
Benefits Cannot be Accumulated. The District contribution will begin when the employee initiates an eligible investment program at an amount equal to or greater than the benefit schedule set out in Subd. 2, above. An employee may elect to contribute to the selected program more than the District match. The PLAN only defines the limits of the District’s participation in the selected program. The District match cannot be accumulated on a year-to-year basis if an employee elects to begin participation after the first year of eligibility. The District match for an employee who elected PLAN benefits will not be limited to the cumulative amount stated for a specific bracket (i.e. $3,450 for 21 + years), but shall be limited to the career maximum of $16,400. In no case, however, will the annual district match exceed the annual amount for which the employee is eligible based upon years of service.
Benefits Cannot be Accumulated. The District contribution will begin when the employee initiates an eligible investment program at an amount equal to or greater than the benefit schedule set out in Subd. 2, above. An employee may elect to contribute to the selected program more than the District match. The PLAN only defines the limits of the District’s participation in the selected program. The District match cannot be accumulated on a year-to-year basis if an employee elects to begin participation after the first year of eligibility. The District match for an employee who elected PLAN benefits shall be limited to the career maximum of $16,400. In no case will the annual district match exceed the annual amount for which the employee is eligible based upon years of service.
