Common use of Money Purchase Pension Plan Clause in Contracts

Money Purchase Pension Plan. A1. Except as provided in Provision 5.4 of this Agreement, for civilian employees, the District will continue to deposit an amount equivalent to six and sixty-five hundredths percent (6.65%) of the employee’s base rate monthly compensation (after deducting the first one hundred thirty-three dollars and thirty- three cents ($133.33) paid during the month) up to a maximum annual contribution of one thousand eight hundred and sixty- eight dollars and sixty-five cents ($1,868.65) into a Money Purchase Pension Plan. The base rate monthly compensation equals one hundred seventy-three and one-third (173.33) hours X base straight time hourly rate.

Money Purchase Pension Plan. A1. Except as provided in Provision 5.4 of this Agreement, for civilian employees, the District will continue to deposit an amount equivalent to six and sixty-five hundredths percent (6.65%) of the employee’s base rate monthly compensation (after deducting the first one hundred thirty-three dollars and thirty- three cents ($133.33) paid during the month) up to a maximum annual contribution of one thousand eight hundred and sixty- eight dollars and sixty-sixty- five cents ($1,868.65) into a Money Purchase Pension Plan. The base rate monthly compensation equals one hundred seventy-three and one-third (173.33) hours X base straight time hourly rate.