Common use of Deferred Compensation Program Clause in Contracts

Deferred Compensation Program. Full-time regular employees in classifications which are covered by PERS General Service (not Police and Fire) and/or OPSRP shall be eligible to participate in the County’s deferred compensation program, in accordance with the terms thereof. The County will contribute to the deferred compensation program only on a matching basis, i.e., only if and to the extent the employee also contributes to the program, and the County’s maximum match on an employee’s contribution will be three percent (3%) of the employee’s wages, calculated after an employee’s contribution to the retirement plan. The County retains the right to administer the Plan as set forth and retains the right to solely select the investment providers for the Plan. The County’s matching contribution to the deferred compensation program shall be limited to existing employees who are enrolled in the Plan as of January 1, 2015, and it will not be available to any other employees.

Deferred Compensation Program. Full-time regular employees in classifications which are covered by PERS General Service (not Police and Fire) and/or OPSRP shall be eligible to participate in the County’s deferred compensation program, in accordance with the terms thereof. The County will contribute to the deferred compensation program only on a matching basis, i.e., only if and to the extent the employee also contributes to the program, and the County’s maximum match on an employee’s contribution will be three percent (3%) of the employee’s wages, calculated after an employee’s contribution to the retirement plan. The County retains the right to administer the Plan plan as set forth and retains the right to solely select the investment providers for the Plan. The County’s matching contribution to the deferred compensation program shall be limited to existing employees who are enrolled in the Plan as of January 1, 2015, and it will not be available to any other employees.