Common use of Deferred Compensation Contribution Clause in Contracts

Deferred Compensation Contribution. ‌ (A) For employees in regular positions, the COUNTY will contribute three percent (3.0%) of the employee’s PERS subject wage rate to the COUNTY’s deferred compensation providers. (B) Each eligible and qualified new employee will be auto-enrolled in the deferred compensation program with an employee contribution of two percent (2.0%) of their wage. Employees can choose to opt out of the contribution, or increase the contribution amount. (C) Employees will be responsible to assure that their account does not exceed the maximum allowed under IRS rules.

Deferred Compensation Contribution. ‌ (A) For employees in regular positions, the COUNTY will contribute three percent (3.0%) of the employee’s PERS subject wage rate to the COUNTY’s deferred compensation providers. (B) Each Effective January 1, 2020, each eligible and qualified new employee will be auto-enrolled in the deferred compensation program with an employee contribution of two percent (2.0%) of their wage. Employees can choose to opt out of the contribution, or increase the contribution amount. (C) Employees will be responsible to assure that their account does not exceed the maximum allowed under IRS rules.

Deferred Compensation Contribution. ‌ (A) For employees in regular positions, the COUNTY will contribute three percent (3.0%) of the employee’s PERS subject wage rate to the COUNTY’s deferred compensation providers. (B) Each Effective January 1, 2020, each eligible and qualified new employee will be auto-enrolled in the deferred compensation program with an employee contribution of two percent (2.02%) of their wage. Employees can choose to opt out of the contribution, or increase the contribution amount. (C) Employees will be responsible to assure that their account does not exceed the maximum allowed under IRS rules.