Common use of Contributions to Individual Account Programs Clause in Contracts

Contributions to Individual Account Programs. As of the date that an employee becomes a member of the Individual Account Program ORS 238A.300 and ORS 238A.305, the Employer will pay an amount equal to six percent (6%) of the employee’s monthly salary, not to be deducted from the salary, as the employee’s contribution to the employee’s account in that program. The employee’s contributions paid by the Employer under this Section 2(B) shall not be considered to be “salary” for the purposes of determining the amount of employee contributions required to be contributed pursuant to ORS 238A.330 and ORS 238A.335.

Contributions to Individual Account Programs. As of the date that an employee becomes a member of the Individual Account Program ORS 238A.300 and ORS 238A.305, the Employer University will pay an amount equal to six percent (6%) of the employee’s monthly salary, not to be deducted from the salary, as the employee’s contribution to the employee’s account in that program. The employee’s contributions paid by the Employer University under this Section 2(B) shall not be considered to be “salary” for the purposes of determining the amount of employee contributions required to be contributed pursuant to ORS 238A.330 and ORS 238A.335.