District Matching Contribution Sample Clauses

District Matching Contribution. The School District will match the contribution of an eligible teacher towards either the Minnesota State Deferred Compensation Program (Section 457) or an approved 403b tax sheltered annuity plan up to an annual amount of $2,000 (two thousand dollars). The School District match will be made on a dollar-for-dollar basis up to the maximum annual amount. Teachers may not recover School District matching contributions for years in which they chose not to participate or participated at a level below the maximum School District contribution level. The annual year for District contributions shall be July 1 through June 30. The District contribution will be pro-rated for part time teachers. The School District’s matching contribution shall be paid into the teacher’s account with the State of Minnesota’s Deferred Compensation Program (Section 457) or the teacher’s 403(b) tax sheltered annuity plan through a vendor from the District approved list.
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District Matching Contribution. The maximum annual District contribution shall be based on years of service with Mounds View School District according to the following schedule: At the beginning of the employee’s –Year of Service with the District District Matching Contribution 2022-2023 1st year 0 2+ years $250.00 Paraeducators in their first (1st) year of service may participate in the “plan” without a match. The District match will begin their second (2nd) year of service. Subd. 1. The annual year for District contributions shall be July 1 through June 30. Changes in District matching amounts, based on years of service completed as of June 30 will be made on July 1 of each year. Subd. 2. Paraeducators must establish participation in an eligible tax-sheltered annuity plan, as defined by Minnesota Statutes, before the District will begin matching contributions to the plan. To begin participation, the employee must submit a completed salary reduction form to the Payroll Office. Once established, participation will continue at the same rate until the Payroll Office is notified of any change. Subd. 3. The District match will be divided evenly over 19 or 24 paychecks up to the maximum annual amount. Employees may not recover District matching contributions for years in which they chose not to participate or participated at a level below the maximum District contribution.
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District Matching Contribution. Principals who elect to participate in a tax deferred 403b plan shall be entitled to a matching School District contribution. The School District shall match any such Principal’s annual contribution to either of the plans up to four thousand five hundred dollars ($4,500). Effective July 1, 2024, the school district annual match will be five thousand dollars ($5,000) The parties agree that any description of benefits contained in this Article is intended to be informational only and the management of contributed funds is the responsibility of the company selected by the employee. It is further understood that the district’s only obligation is to make contributions as specified in this Article and that no other claim shall be made against the district pursuant to this Article.
Sample 1
District Matching Contribution. The maximum annual District contribution shall be based on years of service with Mounds View School District according to the following schedule: At the beginning of the employee’s---Year of Service with the District District Matching Contribution Effective 7/1/21 District Matching Contribution Effective 7/1/22 1st year $0 $0 2-3 years $50 $100 4+ years $200 $250 Nutrition Service employees in their first (1st) year of service may participate in the ‘plan’ without a match. The District match will begin in their second (2nd) year of service. Subd 1. The annual year for District contributions shall be July 1 through June 30. Changes in District matching amounts, based on years of service completed as of June 30 will be made on July 1 of each year. Subd 2. Nutrition Service employees must establish participation in an eligible tax-sheltered annuity plan, as defined by Minnesota Statutes, before the District will begin matching contributions to that plan. To begin participation, the employee must submit a completed salary reduction form to the Payroll Office. In order to receive the maximum annual amount, the salary reduction form must be received by June 15. If the salary reduction form is received after June 15, the annual amount of the District matching contribution will be prorated based on the remaining number of months in the fiscal year. Once established, participation will continue at the same rate until the Payroll Office is notified of any change. Subd 3. The District match will be divided evenly over paychecks up to the maximum annual amount. Employees may not recover District matching contributions for years in which they chose not to participate or participated at a level below the maximum District contribution.
Sample 1
District Matching Contribution. The maximum annual District contribution shall be based on years of service with Mounds View School District according to the following schedule: At the beginning of the employee's--Year of Service with the District 2021-2022 2022-2023 1st year $0 $0 2+years $1600 $1900 Custodians in their first (1st) year of service may participate in the 'plan' without a match. The District match will begin in their second (2nd) year of service. Subd 1. The annual year for District contributions shall be July 1 through June 30. Changes in District matching amounts, based on years of service completed as of June 30 will be made on July 1 of each year. Subd 2. Custodians must establish participation in a tax-sheltered annuity plan, as defined by Minnesota Statutes, before the District will begin matching contributions to that plan. To begin participation, the employee must submit a completed salary reduction form to the Payroll Office. In order to receive the maximum annual amount, the salary reduction form must be received by June
Sample 1
District Matching Contribution. The maximum annual District contribution shall be based on years of service with Mounds View School District according to the following schedule: At the beginning of the employee’s---Year of Service with the District District Matching Contribution 2019-2020 District Matching Contribution 2020-2021 Probationary $0.00 $0.00 Continuing Contract $3,300 $3,600 Teachers in their probationary period may participate in the ‘plan’ without a match. The District match will begin upon achieving continuing contract status (i.e. 2nd year or 4th year). For eligible part-time teachers, the District match will be prorated based on the teacher’s percent of contract as of September 1 of each school year. Subd 1. The annual year for District contributions shall be July 1 through June 30. Changes in District matching amounts, based on years of service completed as of June 30 will be made on July 1 of each year. Subd 2. Teachers must establish participation in a tax sheltered annuity plan, as defined by Minnesota Statutes, before the District will begin matching contributions to that plan. To begin participation, the employee must submit a completed salary reduction form to the Payroll Office. In order to receive the maximum annual amount, the salary reduction form must be received by June 15. If the salary reduction form is received after June 15, the annual amount of the District matching contribution will be prorated based on the remaining number of months in the fiscal year. Once established, participation will continue at the same rate until the Payroll Office is notified of any change. Subd 3. The District match will be made on a dollar for dollar basis up to the maximum annual amount. Employees may not recover District matching contributions for years in which they chose not to participate or participated at a level below the maximum District contribution.
Sample 1

Related to District Matching Contribution

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Employer Contributions An employer must make such superannuation contributions to a superannuation fund for the benefit of an employee as will avoid the employer being required to pay the superannuation guarantee charge under superannuation legislation with respect to that employee.

  • Elective Deferrals A Participant may enter into a Elective Deferrals Agreement with the Employer authorizing the Employer to withhold a portion of such Participant's Compensation not to exceed $7,000 per calendar year as adjusted for inflation or, if lesser, the percentage of Compensation specified in the Adoption Agreement and to deposit such amount to the Plan. No Participant shall be permitted to have Elective Deferrals made under this Plan or any other qualified plan maintained by the Employer, during any taxable year, in excess of the dollar limitation contained in Code Section 402(g) in effect at the beginning of such taxable year. Thus, the $7,000 limit may be reduced if a Participant contributes pre-tax contributions to qualified plans of this or other Employers. Any such contribution shall be credited to the Employee's Elective Deferrals Account. Unless otherwise specified in the Adoption Agreement, a Participant may amend his or her Elective Deferrals Agreement to increase, decrease or terminate the percentage upon 30 days written notice to the Employer. If a Participant terminates his or her agreement, such Participant shall not be permitted to put a new Elective Deferrals Agreement into effect until the first pay period in the next Plan Year, unless otherwise stated in the Adoption Agreement. The Employer may also amend or terminate said agreement on written notice to the Participant. If a Participant has not authorized the Employer to withhold at the maximum rate and desires to increase the total withheld for a Plan Year, such Participant may authorize the Employer upon 30 days notice to withhold a supplemental amount up to 100% of his or her Compensation for one or more pay periods. In no event may the sum of the amounts withheld under the Elective Deferrals Agreement plus the supplemental withholding exceed 25% of a Participant's Compensation for a Plan Year. The Employer may also recharacterize as after-tax Voluntary Contributions all or any portion of amounts previously withheld under any Elective Deferrals Agreement within the Plan Year as provided for at paragraph 10.10. This may be done to insure that the Plan will meet one of the antidiscrimination tests under Code Section 401(k). Elective Deferrals shall be deposited in the Trust within 30 days after being withheld from the Participant's pay. Elective Deferrals are permitted only in Standardized Adoption Agreement 003, Nonstandardized Adoption Agreement 006, and Standardized Adoption Agreement 009.

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