EMPLOYER CONTRIBUTION TO COMPASS HOUSING ALLIANCE 403(b). PLAN Each year the Employer shall make the determination as to whether a contribution can be made. If the Employer makes a contribution, the amount will be no less than one percent (1%) of each participant’s gross pay. Bargaining unit employees shall receive the same contributions into the Compass Housing Alliance’s 403(b) as all non-bargaining unit employees. This does not prevent the Employer from providing contributions to bargaining unit employees 403(b) accounts only. The Employer contributions will commence at the employee’s first anniversary date of employment when the employee has worked over one thousand (1,000) hours during the past year at their anniversary date of hire. The Employer agrees to recognize pre-tax deferral elections made by employees. Employees can elect any amount of salary reduction in accordance with the conditions of the 403(b) plan.
Appears in 5 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
