Common use of Deferred Compensation Incentive Clause in Contracts

Deferred Compensation Incentive. The District contribution to employees who participate in the County’s Deferred Compensation Plan is seventy-five dollars ($75) per month. To be eligible for this incentive, employees must contribute to the deferred compensation plan as indicated below. Monthly Contribution Employees with Qualifying Base Required to Maintain Current Contribution Incentive Program Monthly Salary of: Amount: Eligibility $2,500 and below $250 $50 2,501 - 3,334 500 50 3,335 - 4,167 750 50 4,168 - 5,000 1,000 50 5,001 - 5,834 1,500 100 5,835 - 6,667 2,000 100 6,668 & above 2,500 100 Employees who discontinue contributions or who contribute less than the required amount per month for a period of one (1) month or more will no longer be eligible for the District supplement. To reestablish eligibility, employees must again make a Base Contribution Amount as set forth above based on current monthly salary. Employees with a break in deferred compensation contributions either because of an approved medical leave or an approved financial hardship withdrawal shall not be required to reestablish eligibility. Further, employees who lose eligibility due to displacement by layoff, but maintain contributions at the required level and are later employed in an eligible position, shall not be required to reestablish eligibility.

Deferred Compensation Incentive. A. The District contribution County shall contribute sixty dollars ($60) per month to employees who participate in the County’s Deferred Compensation Plan is seventy-five dollars ($75) per monthPlan. To be eligible for this incentive, employees must contribute to the deferred compensation plan as indicated below. indicated: Monthly Contribution Employees with Qualifying Base Required to Maintain Current Contribution Incentive Program Monthly Salary of: Amount: Amount Eligibility $2,500 and below $250 $50 2,501 - 3,334 500 50 3,335 - 4,167 750 50 4,168 - 5,000 1,000 50 5,001 - 5,834 1,500 100 5,835 - 6,667 2,000 100 6,668 & above 2,500 100 Employees who discontinue contributions or who contribute less than the required amount per month for a period of one (1) month or more will no longer be eligible for the District sixty dollar ($60) County supplement. To reestablish eligibility, employees must again make a Base Contribution Amount as set forth above based on current monthly salary. Employees with a break in deferred compensation contributions either because of an approved medical leave or an approved financial hardship withdrawal shall not be required to reestablish eligibility. Further, employees who lose eligibility due to displacement by layoff, but maintain contributions at the required level and are later employed in an eligible position, shall not be required to reestablish eligibility.

Deferred Compensation Incentive. The District contribution to employees who participate in the County’s Deferred Compensation Plan is seventy-five dollars ($75) per month. To be eligible for this incentive, employees must contribute to the deferred compensation plan as indicated below. Monthly Contribution Employees with Qualifying Base Monthly Contribution Required to Maintain Current Contribution Incentive Program Monthly Salary of: Amount: Eligibility $2,500 and below $250 $50 2,501 - 3,334 500 50 3,335 - 4,167 750 50 4,168 - 5,000 1,000 50 5,001 - 5,834 1,500 100 5,835 - 6,667 2,000 100 6,668 & above 2,500 100 Employees who discontinue contributions or who contribute less than the required amount per month for a period of one (1) month or more will no longer be eligible for the District supplement. To reestablish eligibility, employees must again make a Base Contribution Amount as set forth above based on current monthly salary. Employees with a break in deferred compensation contributions either because of an approved medical leave or an approved financial hardship withdrawal shall not be required to reestablish eligibility. Further, employees who lose eligibility due to displacement by layoff, but maintain contributions at the required level and are later employed in an eligible position, shall not be required to reestablish eligibility.