One-Time Lump Sum Contribution Sample Clauses

One-Time Lump Sum Contribution to Employee 457/RHS Plan by City For full-time unit employees, effective July 2, 2014, the City shall make a one-time, lump sum contribution be paid out in three (3) equal installments to the unit employee’s 457 Deferred Compensation Plan (with any excess deferred into the unit employee’s RHS Plan) with first payment occurring on or about September 5, 2014, and every year thereafter, in an amount specified in the table below corresponding to the employee’s full- time consecutive years of service to the City with a five (5) year vesting schedule (e.g., twenty percent [20%] per year) for unit employees with less than five (5) years of full-time consecutive service to the City (See Appendix Five): Years of Full-time Consecutive Service (as of July 2, 2014) Lump Sum Payment Annual Installment Amount TIER 3—48 full-time unit employees Greater than 10 years but less than 15 Years ( > 120 months and < 180 months) $2,200 $733.33 5. Vesting Requirements To qualify for one hundred percent (100%) of the Lump Sum Contributions, full-time unit employees must possess five (5) years of full-time consecutive years of service with the City.
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One-Time Lump Sum Contribution a. At the completion of 60 months of active regular continuous service, the Employer will contribute to the employee’s 403(b) Base Retirement Program an amount equal to 2.5% of the bargaining unit’s average wage (aggregate pay including overtime compensation divided by total Full-Time Equivalents (FTE) calculated as of June 30th prior to the contribution.
Sample 1

Related to One-Time Lump Sum Contribution

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Company Contributions (a) For employees hired, rehired or who become covered under the CWA 3176 Agreement through any means before January 1, 2016, the Company shall contribute a Company Matching Contribution equal to 25 percent of the Participant’s Contribution up to a maximum of 6 percent of eligible wage.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • BENEFIT FUND The Trustees are authorized and directed to establish a study committee to review the legality, feasibility and desirability of setting up and maintaining an employee funded Section 125 Flexible Spending Account (FSA). If an FSA is determined to be legal, feasible and desirable in this context, the Trustees are further authorized and directed to establish such an arrangement and offer it to employees covered by this Agreement; provided that the FSA shall not be offered to employees of any Employer who is unwilling or unable to permit employee participation in the FSA.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

  • Premium Contributions i. Effective March 1, 2014, the Company and employees will contribute toward the premium costs of the NECA Health Plan for eligible Regular employees in accordance with this Section.

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • User Contributions The Website may contain message boards, chat rooms, personal web pages or profiles, forums, bulletin boards, and other interactive features (collectively, "Interactive Services") that allow users to post, submit, publish, display, or transmit to other users or other persons (hereinafter, "post") content or materials (collectively, "User Contributions") on or through the Website. All User Contributions must comply with these Terms of Use. Any User Contribution you post to the site will be considered non-confidential and non- proprietary. By providing any User Contribution on the Website, you grant us and our affiliates and service providers, and each of their and our respective licensees, successors, and assigns the right to use, reproduce, modify, perform, display, distribute, and otherwise disclose to third parties any such material. You represent and warrant that: • You own or control all rights in and to the User Contributions and have the right to grant the license granted above to us and our affiliates and service providers, and each of their and our respective licensees, successors, and assigns. • All of your User Contributions do and will comply with these Terms of Use. You understand and acknowledge that you are responsible for any User Contributions you submit or contribute, and you, not the Company, have full responsibility for such content, including its legality, reliability, accuracy, and appropriateness. We are not responsible or liable to any third party for the content or accuracy of any User Contributions posted by you or any other user of the Website.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

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