Common use of County Fire Matching Contribution Clause in Contracts

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.

Appears in 3 contracts

Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding

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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 articleArticle. The biweekly contribution of employees who contribute to the County Fire’s Section 457 (b457(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. other pay above the base hourly wage (See Appendix B).

Appears in 1 contract

Samples: Memorandum of Understanding

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