Common use of Defined Contribution Retirement Plan Clause in Contracts

Defined Contribution Retirement Plan. Any employee covered under this agreement hired on or after March 1, 2004 will only be eligible to enroll in the County’s Defined Contribution Retirement Plan with a mandatory contribution rate of 7.5% of gross pay (pre-tax). The employer will also contribute 7.5% of an employee’s gross pay. Investments to be directed by the employee through available options. Vesting period shall be five (5) years. Contributions to begin on the date of hire. Effective January 1, 2011 the mandatory employee contribution will be 5% of gross pay (pre-tax). The employer will also contribute 5% of an employee’s gross pay. Worker’s Compensation

Defined Contribution Retirement Plan. Any employee covered under this agreement hired on or after March 1, 2004 will only be eligible to enroll in the County’s Defined Contribution Retirement Plan with a mandatory contribution rate of 7.5% of gross pay (pre-tax). The employer Employer will also contribute 7.5% of an employee’s gross pay. Investments to be directed by the employee through available options. Vesting period shall be five (5) years. Contributions to begin on the date of hire. Effective January 1, 2011 the mandatory employee contribution will be 5% of gross pay (pre-tax). The employer will also contribute 5% of an employee’s gross pay. Worker’s Compensation.