Contributions for former Employees Clause Samples
The "Contributions for former Employees" clause defines the rules and obligations regarding contributions, such as pension or benefit payments, that are made on behalf of employees who are no longer with the company. Typically, this clause outlines whether and how contributions continue after employment ends, specifying eligibility criteria, timeframes, or types of benefits covered. Its core function is to clarify the employer's ongoing responsibilities to former employees, ensuring both parties understand what, if any, post-employment contributions are required and thereby preventing disputes or misunderstandings.
Contributions for former Employees. If this (a) is elected, the Employer may continue to make Employer Contributions on behalf of a former Employee as provided in Section 3.01(c) of the Plan, as described below: 🞎 (b) Contributions of accrued sick and/or vacation leave.
Contributions for former Employees. The Employer, in its discretion, may make Employer Contributions on behalf of a former Employee. For purposes of determining Employer Contributions for a former Employee, the former Employee is deemed to have monthly Compensation through the end of the taxable year of the Employee in which he or she ceases to be an Employee and through the end of each of the next five taxable years. The amount of monthly Compensation is equal to 1/12 of the former Employee’s Compensation during the former Employee’s most recent year of service, as defined in section 1.403(b)-4(e) of the Treasury Regulations.
Contributions for former Employees. If this (a) is elected, the Employer may continue to make Employer Contributions on behalf of a former Employee as provided in Section 3.01(c) of the Plan, as described below: The Employer Contribution will be determined in accordance with any Collective Bargaining Agreement(s), applicable employment contract(s), or other arrangement the Employer has with the Participant(s).