C ity Contribution to Deferred Compensation Sample Clauses

C ity Contribution to Deferred Compensation. The City shall contribute $320.00 per month on behalf of each Police Officer to a deferred compensation account. The City shall contribute $475.00 per month on behalf of each p P olice s Sergeant to a deferred compensation account. In addition to the above amounts, the City shall pay make an additional contribution to the deferred compensation accounts of Police Officers and Police Sergeants as follows: Effective the pay period including March 31, 2020 (which is March 28, 2020 to April 10, 2020), the City shall make a contribution to employees in the classification of Police Officer in the amount of one percent (1%) of step 5 for the classification of Police Officer. Effective the pay period including March 31, 2020 (which is March 28, 2020 to April 10, 2020), the City shall make a contribution to employees in the classification of Police Sergeant in the amount of one percent (1%) of step 6 for the classification of Police Sergeant. Effective the pay period including October 1, 2020, the City shall make a contribution to employees in the classification of Police Officer in the amount of two percent (2%) (the one percent (1%) initially provided on March 28, 2020, and an additional one percent (1%) for a total of two percent 2%) of step 5 for the classification of Police Officer. Effective the pay period including October 1, 2020, the City shall make a contribution to employees in the classification of Police Sergeant in the amount of two percent (2%) (the one percent (1%) initially provided on March 28, 2020, and an additional one percent (1%) for a total of two percent (2%) of step 6 for the classification of Police Sergeant. Effective the pay period including October 1, 2021, the City shall make a contribution to employees in the classification of Police Officer in the amount of three percent (3%) (the two percent (2%) initially provided effective with the pay period including October 1, 2020, and an additional one percent (1%) for a total of three percent (3%) of step 5 for the classification of Police Officer. Effective the pay period including October 1, 2021, the City shall make a contribution to employees in the classification of Police Sergeant in the amount of three percent (3%) (the two percent (2%) initially provided effective with the pay period including October 1, 2020, and an additional one percent (1%) for a total of three percent (3%) of step 6 for the classification of Police Sergeant. As addressed in paragraph B below, the parties acknowl...
Sample 1
AutoNDA by SimpleDocs

Related to C ity Contribution to Deferred Compensation

  • Deferred Compensation Program ‌ Unit members shall continue to be eligible to join the County’s Deferred Compensation Plan. Said employees will be bound by the same Plan, rules and participation agreements as are generally applicable to other County employees. DSA acknowledges that County retains the right to alter, amend, or repeal the current plan, rules, and participation agreements, at any time. The County shall not charge an administrative fee to participating employees.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Company Contributions (a) For employees hired, rehired or who become covered under the CWA 3176 Agreement through any means before January 1, 2016, the Company shall contribute a Company Matching Contribution equal to 25 percent of the Participant’s Contribution up to a maximum of 6 percent of eligible wage.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Tax Deferred Annuities The Board of Directors for the District shall provide and pay for such tax deferred annuities pursuant to RCW 28A.400.250 as the union shall request and the Board of Directors shall authorize. Payment for said annuities shall be at the option of the employee and deducted from the monthly salary as authorized by the individual employee.

  • Tax-Deferred Earnings The investment earnings of your IRA are not subject to federal income tax until distributions are made (or, in certain instances, when distributions are deemed to be made).

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

Time is Money Join Law Insider Premium to draft better contracts faster.