District Nonelective Contribution Equal to Terminal Pay Sample Clauses

District Nonelective Contribution Equal to Terminal Pay. The District agrees to make a nonelective contribution to the 403(b) account of each eligible employee equal to the value of each employee’s converted, unused sick or vacation leave days, determined in accordance with Article XIV(I) of this Agreement. The District will make the maximum contribution permitted under Internal Revenue Code Section 415(c)(1), for the year in which the employee xxxxxx employment.‌‌
Sample 1
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Related to District Nonelective Contribution Equal to Terminal Pay

  • 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.

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

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