Common use of Contribution Formula Clause in Contracts

Contribution Formula. For insurance purposes, full-time employment shall mean six (6) or more hours per day. Employees less than full-time shall receive prorated District contributions based on the following: Hours: 6 or more Full Benefit Contribution 4 to 6 ½ District Contribution less than 4 No District Contribution The parties agree that, should the Board elect to consider a four-day student week, it may reopen the provisions of Article 18 Section C only under the sole circumstances that the District’s Reserve (combination of Contingency Fund and Unappropriated Ending Fund Balance) in the adopted budget for the next year is less than 8% of the total adopted general fund revenues. Bargaining will be pursuant to ORS 243.698.

Contribution Formula. For insurance purposes, full-time employment shall mean six (6) or more hours per day. Employees less than full-time shall receive prorated District contributions based on the following: Hours: 6 or more Full Benefit Contribution 4 to 6 ½ District Contribution less than 4 No District Contribution The parties agree that, should the Board elect to consider a four-day student week, it may reopen the provisions of Article 18 Section C only under the sole circumstances that the District’s Reserve (combination of Contingency Fund and Unappropriated Ending Fund Balance) in the adopted budget for the next year is less than eight percent (8% %) of the total adopted general fund revenues. Bargaining will be pursuant to ORS 243.698.