Eligibility for 403B Match. The District’s match to an employee’s qualified 403(b) tax deferred annuity shall become available to an employee when he/she has completed three (3) years of employment in the District. An employee may contribute to a qualified 403(b) tax deferred annuity on his/her own prior to becoming eligible for the District’s match.
Eligibility for 403B Match. The District’s match to an employee’s qualified 403(b) tax deferred annuity shall become available to an employee when he/she has completed three (3) years of employment in the District. An employee may contribute to a qualified 403(b) tax deferred annuity on his/her own prior to becoming eligible for the District’s match. S ection 4. 403B Vendors: The following are approved companies for 403B accounts: Catholic Aid Association Ameriprise Financial Xxxxxx Xxxx Life Insurance Company Lincoln National Life Insurance Company MEA ESI Educators Financial Assurance Thrivent Financial for Lutherans Vanguard Fiduciary Trust Company Variable Annuity Life Insurance Company Aspire S ection 5. Amount: For each dollar that an employee contributes via payroll deduction to a qualified 403(b) tax deferred annuity, the District shall contribute one dollar to the same annuity, up to a maximum annual contribution that is equal to one and one-half percent (1.5) during the 2017-2018 school year and two percent (2%) during the 2018-2019 school year of the employee’s gross annual salary. For the purposes of this section, the employee’s gross annual salary shall be calculated by multiplying his/her hourly rate by the number of hours in effect on July 1st of each fiscal year.
