Contributions to the Active Teachers’ Plan Sample Clauses

Contributions to the Active Teachers’ Plan. The School district will make a semi-annual contribution to individual accounts under the health reimbursement arrangement for qualifying bargaining unit members in the amount of the deductible dollar figure for either single or family coverage (whichever may be elected by the individual member) under the group health plan described in Subdivision 2. The first contribution shall be made on October 1, the second contribution will be made on December 1. Each contribution shall be 50% of the total the health insurance deductible for that plan year. If a qualified bargaining unit member enters the VEBA Plan as a participant on a date after the first day of the VEBA Plan year, the School District shall prorate the amount of the School District Contribution to reflect the late entry. This prorated amount will be determined by the number of days the teacher is contracted compared to the total teacher days of a full time teacher. All contributions on behalf of a VEBA Plan participant shall cease on the date the participant is no longer covered under the VEBA coordinated health plan in Subdivision 2 below.
Sample 1
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Contributions to the Active Teachers’ Plan. The School district will make contributions to individual accounts under the health reimbursement arrangement for qualifying bargaining unit teachers in the amount of the deductible dollar figure for either single or family coverage (whichever may be elected by the individual member) under the group health plan described in Subdivision 2. The School District shall make contributions to individual health reimbursement accounts (VEBA or H.S. A.) on a prorated basis consistent with payroll cycles. The first contribution will start the month after the date of hire and will be prorated based upon the employee’s Full Time Equivalency and the number of months remaining in the plan year. If a qualified bargaining unit teacher enters the VEBA/HSA Plan as a participant on a date after the first day of the VEBA/HSA Plan year, the School District shall prorate the amount of the School District Contribution to reflect the late entry. This prorated amount will be determined by the number of days the teacher is contracted compared to the total teacher days of a full time teacher. All contributions on behalf of a VEBA/HSA Plan participant shall cease on the date the participant is no longer covered under the VEBA/HSA coordinated health plan in Subdivision 2 below.
Sample 1

Related to Contributions to the Active Teachers’ Plan

  • 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.

  • Negotiated Funding Amount, Board Contributions 4.1.1 Each Board shall pay an amount equal to 1/12th of the annual negotiated funding amount as described in 4.1.3 to the Trustees of the OECTA ELHT by the last day of each month from and after the Board’s Participation Date.

  • 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.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • Contribution Eligibility You are eligible to make a regular contribution to your Xxxx XXX, regardless of your age, if you have compensation and your MAGI is below the maximum threshold. Your Xxxx XXX contribution is not limited by your participation in an employer-sponsored retirement plan, other than a Traditional IRA.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • 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. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Defined Contribution Plans The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined contribution plan" (as defined in Section 3(34) of ERISA), whether or not terminated.

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