Common use of Method of Payment for Retirement and Severance Clause in Contracts

Method of Payment for Retirement and Severance. Any retirement and severance payments due under this article will be paid into accounts in the following proportions: 25% to the retiree’s account with the Minnesota Post Retirement Health Care Savings Plan or an IRS approved post-retirement health reimbursement account, and 75% to the retiree’s 401(a) and/or 403(b) account subject to the laws of the State of Minnesota, federal laws, and valid rules, regulations, and orders of state and federal government agencies.

Method of Payment for Retirement and Severance. Any retirement and severance payments due under this article Article will be paid into accounts in the following proportions: 25% to the retiree’s account with the Minnesota Post Retirement Health Care Savings Plan or an IRS approved post-retirement health reimbursement account, and 75% to the retiree’s 401(a) and/or 403(b) account subject to the laws of the State of Minnesota, federal lawsFederal Laws, and valid rules, regulations, and orders of state State and federal Federal government agencies.

Method of Payment for Retirement and Severance. Any retirement and severance payments due under this article will be paid into accounts in the following proportions: 25% to the retiree’s account with the Minnesota Post Retirement Health Care Savings Plan or an IRS approved post-retirement health reimbursement account, and 75% to the retiree’s 401(a) and/or 403(b) account subject to the laws of the State of Minnesota, federal lawsxxxxxxx xxxx, and valid rules, regulations, and orders of state and federal government agencies.