Common use of Benefits Cannot be Accumulated Clause in Contracts

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 not equal to exceed or greater than the benefit schedule set out in Subd. 12, 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 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 CTT/VEBA Retirement Savings 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. Subd. 6.