Common use of Deferred Compensation Programs Clause in Contracts

Deferred Compensation Programs. In accordance with Section 457 or 403b of the internal revenue code and MS.356.24, the School Board will match the contribution of an eligible employee according to the following schedule towards either the Minnesota State Deferred Compensation Program (Section 457) or an approved 403b tax sheltered annuity plan. The plan must meet the School District’s guidelines for approval. The contribution and match are forwarded each pay period to the plan account. Employees who have been contributing to a 457 plan prior to the ratification of the 2014-2016 contract will be grandfathered in, with the district contributing matching funds to the 457 plan. District Match After Employee Probationary Period: Eligibility Minimum Maximum Employees hired on or after July 1, 2014 or new enrollees to the deferred compensation program will have matching funds contributed by the district, up to the minimum, maximum or any amount in between, to the 403(b) plan. $250 ($13.17 per pay check) $660 ($34.74 per pay check)

Deferred Compensation Programs. In accordance with Section 457 or 403b of the internal revenue code and MS.356.24, the School Board will match the contribution of an eligible employee according to the following schedule towards either the Minnesota State Deferred Compensation Program (Section 457) or an approved 403b tax sheltered annuity plan. The plan must meet the School District’s guidelines for approval. The contribution and match are forwarded each pay period to the plan account. Employees who have been contributing to a 457 plan prior to the ratification of the 2014-2016 contract will be grandfathered in, with the district contributing matching funds to the 457 plan. District Match After Employee Probationary Period: Eligibility Minimum Maximum Employees hired on or after July 1, 2014 or new enrollees to the deferred compensation program will have all matching funds contributed by to a 403(b) plan. The District will match the districtminimum or maximum amount, up to the minimum, maximum or any amount in between, to the 403(b) plan. $250 ($13.17 per pay check) $660 ($34.74 per pay check).

Deferred Compensation Programs. In accordance with Section 457 or 403b of the internal revenue code and MS.356.24, the School Board will match the contribution of an eligible employee according to the following schedule towards either the Minnesota State Deferred Compensation Program (Section 457) or an approved 403b tax sheltered annuity plan. The plan must meet the School District’s guidelines for approval. The contribution and match are forwarded each pay period to the plan account. Employees who have been contributing to a 457 plan prior to the ratification of the 2014-2016 contract will be grandfathered in, with the district contributing matching funds to the 457 plan. District Match After Employee Probationary Period: Eligibility Minimum Maximum Employees hired on or after July 1, 2014 or new enrollees to the deferred compensation program will have all matching funds contributed by the district, up to the minimum, maximum or any amount in between, to the a 403(b) plan. District Match After Employee Probationary Period: Minimum District Match: $250 (250.00 Maximum District Match: $13.17 per pay check) $660 ($34.74 per pay check)660.00

Deferred Compensation Programs. In accordance with Section 457 or 403b of the internal revenue code and MS.356.24, the School Board will match the contribution of an eligible employee according to the following schedule towards either the Minnesota State Deferred Compensation Program (Section 457) or an approved 403b tax sheltered annuity plan. The plan must meet the School District’s guidelines for approval. The contribution and match are forwarded each pay period to the plan account. Employees who have been contributing to a 457 plan prior to the ratification of the 2014-2016 contract will be grandfathered in, with the district contributing matching funds to the 457 plan. District Match After Employee Probationary Period: Upon First Day of Employment Eligibility Minimum Maximum Employees Current employees and newly hired on or after July 1, 2014 or new enrollees to employees that enroll in the deferred compensation program will have matching funds contributed by the district, district up to the minimum, maximum or any amount in between, to the 403(b) planmaximum. $250 ($13.17 per pay check) $660 ($34.74 per pay checkpaycheck)