County Fire Matching Contribution Sample Clauses

County Fire Matching Contribution. ‌ Employees who have completed one (1) year of continuous service in a regular position shall be eligible for the benefits of this article. The biweekly contribution of employees who contribute to the County Fire’s Section 457 (b) Deferred Compensation Plan will be matched by a County Fire contribution on the basis of one-half times (½x) the employee’s contribution up to one-half percent (½%) of the employee’s biweekly base salary. For example, an employee who contributes $10.00 per pay period shall receive a County Fire contribution of $5.00 per pay period, provided that the $5.00 does not exceed one-half percent (½%) of the employee’s biweekly base salary. County Fire contributions to the Plan shall not be considered earnable compensation. DEFINITIONS‌ The following definitions apply to the terms used in throughout this Plan unless another definition is specified.
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County Fire Matching Contribution. ‌ Employees who are not eligible to receive Safety Retirement and who have completed five (5) years of continuous service in a regular position shall be eligible for the benefits of this section. Employees who are eligible to receive Safety Retirement are not eligible for the County Fire matching contribution. The bi-weekly contribution of employees who contribute to the County’s Section 457(b) Deferred Compensation Plan will be matched by a County Fire contribution on the basis of one-half times (1/2 x) the employee’s contribution up to one-half percent (1/2%) the employee’s bi-weekly base salary. For example, an employee who contributes $10.00 per pay period shall receive a County Fire contribution of $5.00 per pay period, provided that $5.00 does not exceed one-half percent (1/2%) of the employee’s bi-weekly base salary. County Fire contributions to the Plan shall not be considered earnable compensation. Effective October 21, 2023, employees who are not eligible to receive Safety Retirement and who have completed one (1) years of continuous service in a regular position shall be eligible for the benefits of this section. Employees who are eligible to receive Safety Retirement are not eligible for the County Fire matching contribution. The bi-weekly contribution of employees who contribute to the County’s Section 457(b) Deferred Compensation Plan will be matched by a County Fire contribution not to exceed one percent (1%) the employee’s biweekly base salary.
Sample 1Sample 2
County Fire Matching Contribution. Effective 90 days after the effective date of the MOU, employees who are not eligible to receive Safety Retirement and who have completed five (5) years of continuous service in a regular position shall be eligible for the benefits of this section. Employees who are eligible to receive Safety Retirement are not eligible for the County Fire matching contribution. The bi-weekly contribution of employees who contribute to the County’s Section 457(b) Deferred Compensation Plan will be matched by a County Fire contribution on the basis of one-half times (1/2 x) the employee’s contribution up to one-half percent (1/2%) the employee’s bi- weekly base salary. For example, an employee who contributes $10.00 per pay period shall receive a County Fire contribution of $5.00 per pay period, provided that $5.00 does not exceed one-half percent (1/2%) of the employee’s bi-weekly base salary. County Fire contributions to the Plan shall not be considered earnable compensation. DEFINITIONS‌ Listed below are definitions of terms commonly used in this Agreement.
Sample 1

Related to County Fire Matching Contribution

  • 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.

  • 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.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement. 8.2 Contributions shall be recorded on a remittance form and remitted to the designated recipient of such contributions on or before the fifteenth (15) day of the month following the month for which contributions are to be made. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds, as liquidated damages and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter, interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 8.3 The amounts to be designated as wages and/or Employer contributions to the above funds may be varied from time to time by agreement between the Association and the Union. 8.4 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Funds, including provisions for audit security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. 8.5 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 8.6 All employer contributions due and payable to the above funds, except industry promotion funds, shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds and industry promotion funds are not wages or benefits due to an employee and industry promotion funds are dues for services rendered by the Association. 8.7 The Business Representative of the Local Union may inspect, during regular business hours, the Company's record of time worked by employees and contributions to the plan. 8.8 The Employer shall be responsible for the payment of any government sales taxes applicable to any trust fund contributions payable by the Employer.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • 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.

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Elective Deferrals (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.

  • Company Contributions The Company shall continue to make a Company Contribution for Plan Years 2017, 2018 and 2019, on the same terms and conditions set forth in the Participant Agreement, with the performance metrics and targets in connection with such Company Contributions for such Plan Years to be established in the sole discretion of the Committee, following consultation with the Chief Executive Officer of the Company.

  • 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.

  • Tax-Deferred Earnings The investment earnings of your Xxxx XXX are not subject to federal income tax as they accumulate in your Xxxx XXX. In addition, distributions of your Xxxx XXX earnings will be free from federal income tax if you take a qualified distribution, as described below.

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