Employer Non-Elective Contribution Equal to Termination Pay. The Employer agrees to make an Employer Non-Elective Contribution to the 403(b) account of each covered employee who xxxxxx their employment with the Employer and who is eligible to receive the Termination Pay benefit of Article V, Section D, 1 of the Collective Bargaining Agreement. The amount of the Employer Non-Elective Contribution shall equal the accumulated leave days (Termination pay) benefit, which is specified in Article V, Section D, 1 of the Collective Bargaining Agreement. The Employer shall make up to the maximum contribution permitted under Section 415(c) (1) of the Internal Revenue Code of 1986, as amended, for the year in which the employee xxxxxx employment.
Employer Non-Elective Contribution Equal to Termination Pay. The Employer agrees to make an Employer Non-elective Contribution to the 403(b) account of each covered employee who xxxxxx their employment with the Employer during the contract year and who is eligible to apply for and who commences their retirement from the state sponsored retirement system. The amount of Employer’s contribution for each eligible employee shall equal the value of each such employee’s accumulated leave days, determined in accordance with Appendix G-2 of the Collective Bargaining Agreement. The Employer shall make the maximum contribution permitted under Section 415(c)(1) of the Internal Revenue Code of 1986, as amended, for the year in which the employee xxxxxx employment. The Employer shall deposit the contribution no later than fifteen (15) business days following the employee’s severance date.
Employer Non-Elective Contribution Equal to Termination Pay. A. The Employer agrees to make an Employer Non-elective Contribution to the 403(b) account of each covered employee, who xxxxxx his or her employment with the Employer during the contract year in which he or she becomes first eligible to retire under the New York State Teachers Retirement System without diminished benefits and fifteen (15) years or more years of service in the district, and who commences his or her retirement from the state sponsored retirement system. The amount of Employer’s contribution for each eligible employee shall equal the value of each such employee’s accumulated leave days up to two hundred seventy-five (275) days multiplied by seventy-five dollars ($75). The Employer shall make the maximum contribution permitted under Section 415(c)(1) of the Internal Revenue Code of 1986, as amended, for the year in which the employee xxxxxx employment. The Employer shall deposit the contribution no later than July 1st of the year in which the employee’s severance of employment commenced.
Employer Non-Elective Contribution Equal to Termination Pay. The Employer agrees to make an Employer Non-elective Contribution to the 403(b) account of each covered employee, who xxxxxx their employment with the Employer during the contract year and who is eligible to apply for and receive an Employer Non-Elective Contribution. The amount of the Employer Non-elective Contribution shall equal the accumulated amount as specified in Article 13.12 and 13.13 of the Collective Bargaining Agreement. The Employer shall make the maximum contribution permitted under Section 415(c)(1) of the Internal Revenue Code of 1986, as amended, for the year in which the employee xxxxxx employment.
Employer Non-Elective Contribution Equal to Termination Pay. The Employer agrees to make an Employer Non-elective Contribution to the 403(b) account of each covered employee, who xxxxxx their employment with the Employer during the contract year and who is eligible to apply for and who commences their retirement from the state sponsored retirement system. The amount of Employer’s contribution for each eligible employee shall equal the value of each such employee’s accumulated leave days, determined in accordance with this Article. The Employer shall make the maximum contribution permitted under Section 415(c)(1) of the Internal Revenue Code of 1986, as amended, for the year in which the employee xxxxxx employment. The Employer shall deposit the contribution no later than 90 days, following the employee’s severance date. In the event of the retired employee's death, any balance held by XXXXX will be paid to the estate of the retiree.
Employer Non-Elective Contribution Equal to Termination Pay. The District agrees to make an Employer Non-elective Contribution to the 403(b) account of each eligible unit member under Article 18.1, who resigns for the purpose of retirement as required by Article 18.2 and is eligible to retire under the rules and regulations of the New York State Teachers’ Retirement System or the New York State Employees’ Retirement System no later than September first. The amount of the District’s contribution for each eligible teacher, teaching assistant or nurse shall be as per Section 18.3 of Article 18 of this Agreement. The District shall make the maximum contribution permitted under Section 415(c)(1) of the Internal Revenue Code of 1986, as amended, for the year in which the unit member xxxxxx employment as provided above. See Appendix G for the regulations governing 403(b) contributions under this Article.
Employer Non-Elective Contribution Equal to Termination Pay. The Employer agrees to make an Employer Non-elective Contribution to the 403(b) account of Employee. The Employer shall make the maximum contribution permitted under Section 415(c)(1) of the Internal Revenue Code of 1986, as amended. The Employer shall deposit the contribution.
Employer Non-Elective Contribution Equal to Termination Pay. The Employer agrees to make an Employer Non-elective Contribution to the 403(b) account of each covered employee who xxxxxx their employment with the Employer during the contract year and who is eligible to apply for and who commences their retirement from the State sponsored retirement system. The amount of Employer’s contribution for each eligible employee will equal the value of each employee’s accumulated sick leave days, determined in accordance with Appendix D of this Agreement. The Employer will make the maximum contribution permitted under Section 415(c)(1) of the Internal Revenue Code for the year in which the employee xxxxxx employment. The employer will deposit the contribution no later than 15 business days following the employee’s severance date.
Employer Non-Elective Contribution Equal to Termination Pay. The Employer agrees to make an Employer Non-elective Contribution to the 403(b) account of each covered employee, who xxxxxx their employment by retiring from the school district during the contract year according to TRS/ERS definitions and who is eligible to receive the benefits described in the Collective Bargaining Agreement. The amount of Employer’s contribution for each eligible employee shall equal the value of each such employee’s accumulated leave days, determined in accordance with the Collective Bargaining Agreement. The employer contribution provided hereunder is in lieu of the cash compensation presently provided for in the Collective Bargaining Agreement. The Employer shall make up to the maximum contribution permitted under Section 415(c)(1) of the Internal Revenue Code for 1986, as amended, for the year in which the employee xxxxxx employment by retiring. The Employer shall deposit the contribution no later than sixty (60) days following the employee’s severance date.
Employer Non-Elective Contribution Equal to Termination Pay. The Employer agrees to make an Employer Non-elective Contribution to the 403(b) account of each covered employee, who xxxxxx their employment with the Employer during the contract year and who is eligible to apply for and who commences their retirement from the state sponsored retirement system during the same contract year. The amount of the Employer’s non-elective contribution for each eligible employee will be in an amount equal to and in place of the value of each such employee’s accumulated leave days, determined in accordance with Section XXII-B of the Collective Bargaining Agreement. The Employer shall make the maximum contribution permitted under Section 415 (c) (1) of the Internal Revenue Code of 1986, as amended, for the year in which the employee xxxxxx employment. The Employer shall deposit the contribution no later than June 30, following the employee’s severance date.
