Common use of Deferral Plan Clause in Contracts

Deferral Plan. The deferral portion of the plan shall involve an Employee spreading four (4) years' salary over a five (5) year period. During the four (4) years' salary deferral, 20% of the Employee's gross annual earnings will be deducted and held for the Employee. Such deferred salary will not be accessible to the Employee until the year of the leave or upon the collapse of the plan. The leave may be postponed no later than six (6) years from the date the salary deferrals for the leave of absence commenced.

Appears in 1 contract

Samples: Collective Agreement

AutoNDA by SimpleDocs

Deferral Plan. The deferral portion of the plan shall involve an Employee employee spreading four (4) years' salary over a five (5) year period. During the four (4) years' years of salary deferral, twenty percent (20% %) of the Employee's employee’s gross annual earnings will be deducted and held for the Employeeemployee. Such deferred deferral salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of the plan. The leave may be postponed no later than six (6) years from the date the salary deferrals for the leave of absence commenced.

Appears in 1 contract

Samples: And

Deferral Plan. (e) The deferral portion of the plan shall involve an Employee employee spreading four (4) years' salary over a five (5) year period. During the four (4) years' ’ of salary deferral, twenty percent (20% %) of the Employee's employee’s gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of the plan. The leave may be postponed no later than six (6) years from the date the salary deferrals for the leave of absence commenced.

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. The deferral portion of the plan shall involve an Employee employee spreading four (4) years' salary over a five (5) year period. During the four (4) years' years of salary deferral, twenty percent (20% %) of the Employee's ’s gross annual earnings will be deducted and held for the Employee. Such deferred salary will not be accessible to the Employee until the year of the leave or upon the collapse of the plan. The leave may be postponed no later than six (6) years from the date the salary deferrals for the leave of absence commenced.

Appears in 1 contract

Samples: Service Employees

Deferral Plan. The deferral portion of the plan shall involve an Employee employee spreading four (4) years' salary over a five (5) year period. During the four (4) years' 4)years of salary deferral, 20% of the Employeeemployee's gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of the plan. The leave may be postponed no later than six (6) years from the date the salary deferrals for the leave of absence commenced.

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. e) The deferral portion of the plan shall involve an Employee employee spreading four (4) years' salary over a five (5) year period. During the four (4) years' years of salary deferral, twenty percent (20% %) of the Employee's ’s gross annual earnings will be deducted and held for the Employee. Such deferred salary will not be accessible to the Employee until the year of the leave or upon the collapse of the plan. The leave may be postponed no later than six (6) years from the date the salary deferrals for the leave of absence commenced.

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. The deferral portion of the plan shall involve an Employee employee spreading four (4) years' salary over a five (5) year period. During the four (4) years' years of salary deferral, twenty per cent (20% %) of the Employeeemployee's gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of the plan. The leave may be postponed no later than six (6) years from the date the salary deferrals for the leave of absence commenced.

Appears in 1 contract

Samples: Collective Agreement

AutoNDA by SimpleDocs

Deferral Plan. The deferral portion of the plan shall involve an Employee employee spreading four (4) years' salary over a five (5) year period. During the four (4) years' years of salary deferral, twenty percent (20% %) of the Employee's employee’s gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of the plan. The leave An employee may request that the deferral portion of the plan be postponed no later less than six four (64) years from and the date percentage of the salary deferrals for the leave of absence commencedemployee's gross annual earnings which will be deducted and held will be increased accordingly.

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. The deferral portion of the plan shall involve an Employee employee spreading four (4) years4)years' salary over a five (5) year period. During the four (4) years' 4)years of salary deferral, 20% of the Employeeemployee's gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of the plan. The leave may be postponed no later than six (6) years from the date the salary deferrals for the leave of absence commenced.

Appears in 1 contract

Samples: Collective Agreement

Deferral Plan. The deferral portion of the plan shall involve an Employee employee spreading four (4) years' salary over a five (5) year period. During the four (4) years' years of salary deferral, 20% of the Employee's employee’s gross annual earnings will be deducted and held for the Employeeemployee. Such deferred salary will not be accessible to the Employee employee until the year of the leave or upon the collapse of o f the plan. The leave may be postponed no later than six (6) years from the date the salary deferrals for the leave of absence commenced.

Appears in 1 contract

Samples: Collective Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!