Deferred Compensation/Retirement Benefits Sample Clauses

Deferred Compensation/Retirement Benefits. 4.1 The Town shall make a contribution for the Town Manager into the Florida Retirement System at the rate specified for the Executive Class. Town Manager shall not be required to contribute to any retirement as required by the Florida Retirement System. The Town Manager shall not be required, but will have the option to contribute to a or deferred compensation fund.
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Deferred Compensation/Retirement Benefits. Deferred compensation is an arrangement in which a portion of an employee’s earned income is paid out at a later date after which the income was earned. This type of compensation is allowable, if authorized and included in/described by the employer’s standard HR/employee policy manual.
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Deferred Compensation/Retirement Benefits. Santa Xxxx METRO will pay the employer contribution and Employee will pay the required member contribution, in accordance with the Public Employees' Pension Reform Act ("PEPRA") as required by the California Public Employees' Retirement System (“CalPERS”) and in accordance with Santa Xxxx METRO’s established policies, the Public Employees' Retirement Law ("PERL") and applicable CalPERS regulations. In accordance with PEPRA, Employee's "pensionable compensation" will be subject to the maximum defined in PERL section 7522.10, as adjusted annually by CalPERS. In addition, subject to the annual compensation limit under Internal Revenue Code ("Code") section 401(a)(17), as adjusted from time to time, Santa Xxxx METRO will contribute an amount equivalent to a percentage (which percentage shall be equal to the contribution rate, as a percentage of pay, paid by Santa Xxxx METRO to CalPERS for employees who are PEPRA members covered by the Santa Xxxx METRO Management Compensation Policy), up to fourteen (14) percent of Employee’s gross salary to Santa Xxxx METRO’s deferred compensation plan established pursuant to Code Section 457(b). Santa Xxxx METRO’s retirement plan and Code Section 457(b) deferred compensation plan, and any contributions by Santa Xxxx METRO thereto, may be modified from time to time in the sole discretion of Santa Xxxx METRO, and Employee shall not have a vested right to continue receiving such contributions. If the contribution by Santa Xxxx METRO to the deferred compensation plan described above is less than fourteen (14) percent of Employee’s gross salary for any fiscal year, Santa Xxxx METRO will pay to Employee the balance (up to fourteen (14) percent of Employee’s gross salary) as taxable compensation, which shall not be "pensionable compensation."
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Deferred Compensation/Retirement Benefits 
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Related to Deferred Compensation/Retirement Benefits

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • 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.

  • ' COMPENSATION BENEFITS In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Termination Benefits (a) If Executive’s employment is voluntarily (in accordance with Section 2(a) of this Agreement) or involuntarily terminated within two (2) years of a Change in Control, Executive shall receive:

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