Offset Against Severance. District contributions to the tax-sheltered annuity matching program will be offset (be deducted from) the final severance amount upon retirement with the employee receiving the net amount as severance. Should the district’s contributions to the tax-sheltered annuity matching program exceed eligible severance at the time of retirement, no severance payment will be due.
Appears in 7 contracts
Samples: Employment Agreement, Employment Agreement, Meet and Confer Agreement
Offset Against Severance. District contributions to the tax-sheltered annuity matching program will be offset (be deducted from) the final severance amount upon retirement with the employee receiving the net amount as severance. Should the district’s contributions to the tax-tax- sheltered annuity matching program exceed eligible severance at the time of retirement, no severance payment will be due.
Appears in 1 contract
Samples: Agreement
