Deferred Compensation and Annuity Payments Sample Clauses

Deferred Compensation and Annuity Payments. For each contract year during the Employment Period, the COLLEGE shall make a contribution on behalf of the PRESIDENT into an employer sponsored plan meeting the requirements of Section 403(b) of the Code (“403(b) Plan”) using a contribution rate set at such percentage calculated to ensure that the amount of the contributions made by the COLLEGE to the 403(b) Plan for the PRESIDENT for the contract year shall at least equal the maximum contribution allowed by the Code under Section 415(c) and the Treasury Regulations and other guidance issued thereunder for such contract year; such contributions shall be made by the COLLEGE to the 403(b) Plan in twenty-four equal bi- weekly installments. For each contract year during the Employment Period, the COLLEGE shall make a contribution for the PRESIDENT into a plan meeting the requirements of Section 457(b) of the Code, in an amount equal to the maximum contribution allowed under the Code and the Treasury Regulations and other guidance issued thereunder for such contract year for a plan meeting the requirements of Section 457(b) of the Code; such contributions shall be made by the COLLEGE in twenty-four equal bi-weekly installments. In no event shall the amounts contributed to the 403(b) Plan and 457(b) plan for the PRESIDENT under this Paragraph (5)H for a contract year exceed the dollar limit on contributions and other additions to Code Section 403(b) and 457(b) plans, respectively, stated in the Code and the Treasury Regulations and other guidance issued thereunder, for such contract year, as increased or indexed under applicable law. For each contract year during the Employment Period, the BOARD shall also pay to the PRESIDENT Eight Thousand Two Hundred Twenty-Five Dollars ($8,225.00), for the PRESIDENT to contribute to a plan(s) established under Section 529 of the Code, such amount to be paid in twenty-six equal bi-weekly installments during the contract year; provided, however, that in no event shall an amount be paid to the PRESIDENT pursuant to this sentence for a contract year later than 90 days after the end of such contract year.
Sample 1
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Related to Deferred Compensation and Annuity Payments

  • Tax Deferred Annuities The Board of Directors for the District shall provide and pay for such tax deferred annuities pursuant to RCW 28A.400.250 as the union shall request and the Board of Directors shall authorize. Payment for said annuities shall be at the option of the employee and deducted from the monthly salary as authorized by the individual employee.

  • Deferred Compensation Program ‌ Unit members shall continue to be eligible to join the County’s Deferred Compensation Plan. Said employees will be bound by the same Plan, rules and participation agreements as are generally applicable to other County employees. DSA acknowledges that County retains the right to alter, amend, or repeal the current plan, rules, and participation agreements, at any time. The County shall not charge an administrative fee to participating employees.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • ' COMPENSATION BENEFITS In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Benefit Payments Benefit Payments, as referred to in this Agreement, means the sum of (i) Claims, as described in Xxxxxxxxx 0 xxxxx, (xx) Cash Surrender Values, as described in Paragraph 3 below, and (iii) Annuity Payments, as described in Paragraph 7 below.

  • Tax-Deferred Earnings The investment earnings of your IRA are not subject to federal income tax until distributions are made (or, in certain instances, when distributions are deemed to be made).

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

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