Deferred Compensation Plan (Greenway 403B Plan) Sample Clauses

Deferred Compensation Plan (Greenway 403B Plan). All new employees (and any employee with less than ten years in the District and under the age of 35 at the time of implementation- September 1, 1998) shall be enrolled in the Greenway 403B. The Employer shall use the employee's anniversary date, not total hours or days worked, to compute years of service. The employee thus enrolled shall receive Employer matching contributions at up to $750 matching for the service years of 0-3, and up to $1000 matching for the service years 4- 10 and $1250 for service years beginning with year 11. The 403B enrollee will not be eligible for Employer paid retiree medical insurance, with the exception of those who become disabled. The 403B enrollee shall not be required to make an investment in the Greenway 403B plan. Employees (other than those required to be enrolled in paragraph one) have the option of enrolling in the Greenway 403B plan from the time of implementation. All past service years will be counted. There is a $1250 annual limit on match per employee. Employees, other than those required to be enrolled in paragraph one, shall have the option to participate in the Employer's Greenway 403B plan by making employee contribution to such plan, up to the maximum contributions allowable by law, and without Employer matching contribution to the plan. In the event the employee elects to participate in such plan without the added benefit of Employer matching contributions, the employee shall retain his/her rights to Employer medical insurance payments, upon retirement. The following employees are grandfathered into retiree medical benefits: Xxxxxx Card Xxxxxxx Xxxxxx Xxxxx Xxxxxxxx Upon retirement, employees shall be eligible to purchase group health insurance through the School District at the group rate.
Sample 1
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Related to Deferred Compensation Plan (Greenway 403B 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.

  • 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 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 Upon the consummation of the Initial Business Combination, the Company will cause the Trustee to pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of the Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the time period prescribed in the Amended and Restated Certificate of Incorporation, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the Public Stockholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount.

  • Deferral Plan The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period, or such other schedule as may be mutually agreed between the employee and the Hospital. In the case of the four (4) years' salary over a five (5) year schedule, during the four (4) years of 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. In the case of another mutually agreed upon deferral schedule, the percentage of salary deferred shall be adjusted appropriately.

  • Reporting Subawards and Executive Compensation a. Reporting of first-tier subawards.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Dependent Care Salary Reduction Plan The Employer agrees to maintain the current dependent care salary reduction plan that allows eligible employees, covered by this Agreement, the option to participate in a dependent care reimbursement program for work-related dependent care expenses on a pretax basis as permitted by federal tax law or regulation.

  • Compensation Plan The Compensation Plan adopted by the City Council shall provide for salary schedules, rates, ranges, steps and any other special circumstances or items related to the total compensation paid employees. Each position within the classified services shall be allocated to its appropriate class in the classification plan on the basis of duties and responsibilities. Each class shall be assigned a salary range or a rate established in the salary plan. All persons entering the classified service shall be compensated in accordance with the salary plan then in effect.

  • Health Benefit Plan Par. 1. The Health Benefit Plan covering life insurance, sickness and accident benefits, and hospitalization insurance, or any changes thereto that are in accordance with the National Elevator Industry Health Benefit Plan and Declaration of Trust, shall be a part of this Agreement and adopted by all parties signatory thereto.

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