Contribution to Qualified 403(B) Deferred Compensation Plan. In addition to the salary as set forth in Article IV, Section E #8, teachers may receive contributions to a qualified tax-sheltered annuity plan of the teacher’s choice pursuant to the applicable provisions of the Internal Revenue Code and associated IRS rulings and regulations, as amended. For all Tier I employees, the Board’s contribution shall be a dollar-for-dollar matching contribution of a teacher’s contribution to a tax-sheltered annuity plan of up to $1,100. For all Tier II employees, the Board’s contribution shall be a dollar-for-dollar matching contribution of a teacher’s contribution to a tax-sheltered annuity plan of up to $1,600.
Contribution to Qualified 403(B) Deferred Compensation Plan. In addition to the salary as set forth in Article IV, Section E #8, teachers may receive contributions to a qualified tax sheltered annuity plan of the teacher’s choice pursuant to the applicable provisions of the Internal Revenue Code and associated IRS rulings and regulations, as amended. In the 2019-20 school year, the Board’s contribution shall be a dollar-for-dollar matching contribution of a teacher’s contribution to a tax-sheltered annuity plan of up to $500. In the 2020-21 school year, the Board’s contribution shall be a dollar-for-dollar matching contribution of a teacher’s contribution to a tax-sheltered annuity plan of up to $750. In the 2021-22 school year and subsequent years, the Board’s contribution shall be a dollar-for-dollar matching contribution of a teacher’s contribution to a tax-sheltered annuity plan of up to $1000.
