Definition of Plan a. Effective July 1, 2008, employees who meet the eligibility requirements may participate in Career Transition Trust by converting the allowable number of accrued sick leave hours, at 100% of their daily rate of pay, into payments to the State of Minnesota Deferred Compensation Plan (457) or the then applicable 403 (b) Plan offered by the District. The Career Transition Trust Plan is an employer contribution, which allows for such conversion until the employee reaches the maximum-capped deposit for the tier of benefits. The number of hours, which may be converted, is based on the sick leave conversion hours on September 1st of the fiscal year the conversion will be made.
Definition of Plan. All employees hired prior to July 1, 2002 must elect the sick leave severance or Career Transition Trust (CTT) plan. The Employee Benefits Department will distribute election forms no later than May 28, 2002. All employees must submit their election form to the Employee Benefits Department no later than June 30, 2002. If election forms are not submitted for individual employees, the CTT option will be selected by default. The selection made by employees or default will be binding. All employees hired after July 1, of 2002 shall only be eligible for CTT.
Definition of Plan. All employees hired after July 1, 2001 shall only be eligible for Career Transition Trust.
Definition of Plan. An employee who terminates their employment with the District at any age with at least 30 years of service or at the age of 55 or more with at least 15 years of service shall be paid fifty percent (50%) of their accrued sick leave balance at their rate of pay on the date of termination of employment. MERF employees are eligible after 29 years + 1 day of service. In order to be eligible for severance, the employee must be in good standing at the time of separation.
Definition of Plan. A new definition for the term "Plan" shall be added to Section 1.1 of the Indenture as follows:
Definition of Plan. The definition of "Plan" contained in Section 1.01 of the Credit Agreement is hereby deleted in its entirety.
Definition of Plan
