Common use of Defined Contribution Clause in Contracts

Defined Contribution. Employees hired after January 1, 2001, shall be covered under the Michigan Municipal Retirement System (MERS) Defined Contribution Plan (D/C). When an employee is hired the employee will have two options to choose from. The employee’s option choice is final and irrevocable.

Defined Contribution. Employees hired after January 1, 2001, shall be covered under the Michigan Municipal Retirement System (MERS) Defined Contribution Plan (D/C). When an employee is hired the employee will have two options to choose from. The employee’s option choice is final and irrevocable. □ Option 1: The Employer contributes six percent (6%) of the employee’s salary to the retirement plan and the employee contributes zero percent (0%).

Defined Contribution. Employees hired on or after January 1October 19, 2001, 2000 shall be covered under the Michigan Municipal Retirement System (MERS) Defined Contribution Plan (D/C). ) When an employee is hired the employee will have two options to choose from. The employee’s option choice is final and irrevocable.