Matching Contribution Plan. Beginning with open enrollment during the 2020-2021 school year, the School District will match employees’ annual contributions for employees who are benefit eligible under Article VIII based on their current year of employment in the School District. The School District matching amount shall not exceed the Annual Maximum Match Amount set forth below: Years of Service Annual Cumulative 0 years to three (3) years $-0- $ -0- Four (4) – Eight (8) years $500 $ 2,500 Nine (9) – Thirteen (13) years $600 $ 3,000 Fourteen (14) – Eighteen (18) years $700 $ 3,500 Nineteen (19) plus years $900 $ 8,000 $17,000
Matching Contribution Plan. Beginning with open enrollment during the 2010-11 school year, the School District will match employees’ annual contributions for employees who are benefit eligible under Article VIII based on their current year of employment in the School District. The School District matching amount shall not exceed the Annual Maximum Match Amount set forth below: Years of Service Annual Cumulative 0 years to three (3) years -0- $ 0 Four (4) – Eight (8) years $300 $ 1,500 Nine (9) – Thirteen (13) years $400 $ 2,000 Fourteen (14) – Eighteen (18) years $500 $ 2,500 Nineteen (19) plus years $800 $11,000 $17,000 Beginning with open enrollment during the 2020-2021 school year, the School District will match employees’ annual contributions for employees who are benefit eligible under Article VIII based on their current year of employment in the School District. The School District matching amount shall not exceed the Annual Maximum Match Amount set forth below: Years of Service Annual Cumulative 0 years to three (3) years -0- $ -0-
Matching Contribution Plan. Section 1. Eligibility/Notice of Participation: Pursuant to the provisions of M.S. 123B.02, Subd. 15. and Section 403(b) of the Federal Internal Revenue Code, the School District will make matching contributions for each teacher who has complied with the following conditions:
Matching Contribution Plan. The School District shall match annual contributions for administrators who are working a .50 contract or more based on their current year of employment in a licensed position for the School District. Matching contributions for part-time administrators will be prorated based on their percent of contract. A year of service is defined as a year in which the administrator worked at least 120 days. The School District matching amount shall be pursuant to the schedule set forth below and shall not exceed the Annual Maximum Match Amount: One (1) – Three (3) years $1,500 $ 4,500 Four (4) plus years $2,500 $15,000 $50,000
Matching Contribution Plan. Beginning with open enrollment during the 2020-2021 school year, the School District will match employees’ annual contributions for employees who are benefit eligible under Article VIII based on their current year of employment in the School District. The School District matching amount shall not exceed the Annual Maximum Match Amount set forth below:
Matching Contribution Plan. Eligibility: The 403(b) matching program will be available to all employees represented by this Agreement who are regularly employed by the district at least nine (9) months per year and twenty
Matching Contribution Plan. Section 1. A School District contribution in the amount of $2,055 annually for July 1, 2022, through June 30, 2023, shall be payable to an eligible employee’s matching contribution plan, subject to the following provisions. From July 1, 2023, through June 30, 2024, the amount of the School District contribution will be $2,180 annually.
Section 2. Such plan shall be approved and subject to applicable provisions of Minnesota Statutes and IRS Code Section 403(b) or IRS Code Section 457, and any amendments thereto, and shall be a plan which is available under the matching contribution plan in effect for eligible employees in the School District.
Section 3. The School District contribution is payable up to the amount the employee authorizes in a matching salary reduction not to exceed $2,055 for 2022-2023 and $2,180 for 2023- 2024 paid to the plan for the same period.
Section 4. Only full-time employees who have five (5) or more years of service (calculated from the employee’s longevity pay eligibility date as defined in Article V, Section 2) shall be eligible for the matching School District contribution provided in this Article. Years of service shall be determined as of July 1; for example, an employee must have 5 (five) years of qualifying service on July 1, 2022, in order to participate during the July 1, 2022, to June 30, 2023, plan year.
Section 5. The School District contribution and matching employee contribution will be made to a state-approved company of the employee’s choice, subject to Section 2 of this Article. It shall be the responsibility of the employee to make all arrangements required by the vendor to ensure that proper payment is made by the School District. In order to monitor compliance with federal and state tax laws concerning the amount of income an employee may shelter, the School District and the Union agree that a third party administrator of tax-sheltered annuity programs may be utilized to monitor such compliance and that (1) employees participating in the School District sponsored 403b/457 tax deferred matching contribution plan may be required to supply account information as required to monitor such compliance, and (2) only vendors who also agree to cooperate with the third party administrator in maintaining plan compliance will be utilized.
Section 6. Participation in the plan shall be voluntary.
Matching Contribution Plan a. For eligible principals pursuant to Subd. 15.21, above, the School District shall match Principals annual contributions based on their current year of service in the School District as follows. The School District matching amount shall not exceed the Annual Maximum Match Amount set forth below: Maximum Match Amount Years of Service Annual Cumulative
Matching Contribution Plan. Subd.
1. Purpose: Commencing July 1, 2009, an annual School District contribution shall be payable to an eligible employee’s matching contribution plan (hereinafter referred to as “Matching Plan”), subject to the following provisions.
Matching Contribution Plan a. For eligible principals pursuant to Subd. 15.31, above, the School District shall match Principals’ annual contributions based on their current year of service in the School District as follows. The School District matching amount shall not exceed the Annual Maximum Match Amount set forth below: Years of Service Annual Cumulative One (1) – Three (3) years $1,500 $ 4,500 Four (4) plus years $2,500 $45,500 $50,000
