Common use of Deferred Savings Clause in Contracts

Deferred Savings. 14.9.1 The College will contribute an amount equal to 2% of the salaries of temporary and casual employees who have elected benefit coverage and permanent employees to a deferred savings plan. 14.9.2 The employees will contribute an amount equal to 1-1/2% of their salaries. 14.9.3 The contributions are deposited in a trust fund for the benefit of the employees, and can be withdrawn by employees in accordance with the contract covering the trust fund with the trust company. 14.9.4 If accepted by the trust company, employees may arrange withdrawals directly. 14.9.5 The College will deposit the contributions biweekly within 5 working days of the actual payday. Unintentional failure to comply with this will not result in a claim for lost interest.

Deferred Savings. 14.9.1 14.8.1 The College will contribute an amount equal to 2% of the salaries of temporary and casual employees who have elected benefit coverage and permanent employees to a deferred savings plan. 14.9.2 14.8.2 The employees will contribute an amount equal to 1-1/2% of their salaries. 14.9.3 14.8.3 The contributions are deposited in a trust fund for the benefit of the employees, and can be withdrawn by employees in accordance with the contract covering the trust fund with the trust company. 14.9.4 14.8.4 If accepted by the trust company, employees may arrange withdrawals directly. 14.9.5 14.8.5 The College will deposit the contributions biweekly within 5 working days of the actual paydaypay day. Unintentional failure to comply with this will not result in a claim for lost interest.

Deferred Savings. 14.9.1 ‌ 14.10.1 The College will contribute an amount equal to 2% of the salaries of temporary and casual employees who have elected benefit coverage and permanent employees to a deferred savings plan. 14.9.2 14.10.2 The employees will contribute an amount equal to 1-1/2% of their salaries. 14.9.3 14.10.3 The contributions are deposited in a trust fund for the benefit of the employees, and can be withdrawn by employees in accordance with the contract covering the trust fund with the trust company. 14.9.4 14.10.4 If accepted by the trust company, employees may arrange withdrawals directly. 14.9.5 14.10.5 The College will deposit the contributions biweekly within 5 working days of the actual payday. Unintentional failure to comply with this will not result in a claim for lost interest.

Deferred Savings. 14.9.1 14.11.1 The College will contribute an amount equal to 2% of the salaries of temporary and casual employees who have elected benefit coverage and permanent employees to a deferred savings plan. 14.9.2 14.11.2 The employees will contribute an amount equal to 1-1/2% of their salaries. 14.9.3 14.11.3 The contributions are deposited in a trust fund for the benefit of the employees, and can be withdrawn by employees in accordance with the contract covering the trust fund with the trust company. 14.9.4 14.11.4 If accepted by the trust company, employees may arrange withdrawals directly. 14.9.5 14.11.5 The College will deposit the contributions biweekly within 5 working days of the actual payday. Unintentional failure to comply with this will not result in a claim for lost interest.

Deferred Savings. 14.9.1 13.8.1 The College will contribute an amount equal to 2% of the salaries of temporary and casual employees who have elected benefit coverage and permanent employees to a deferred savings plan. 14.9.2 13.8.2 The employees will contribute an amount equal to 1-1/2% of their salaries. 14.9.3 13.8.3 The contributions are deposited in a trust fund for the benefit of the employees, and can be withdrawn by employees in accordance with the contract covering the trust fund with the trust company. 14.9.4 13.8.4 If accepted by the trust company, employees may arrange withdrawals directly. 14.9.5 13.8.5 The College will deposit the contributions biweekly within 5 working days of the actual paydaypay day. Unintentional failure to comply with this will not result in a claim for lost interest.