Common use of Plan Two - Health and Welfare Savings Plan Clause in Contracts

Plan Two - Health and Welfare Savings Plan. Effective January 1, 1990, this section replaces Article VII (Retirement), Section 3 (Insurance Coverage for Retirees) of the 1987-1989 Teacher Master Agreement. Teachers initially employed or employed after a break in service by regular contract and who performed services after July 1, 1986, shall be entitled to the following: Subd. 1. The school district will contribute 3.5% of salary per pay period for the first year of this contract and 3.5% of salary for the second year of this contract to a state-approved tax-deferred matching contribution plan for each teacher as permitted by Minnesota Statutes, subject to the provisions of this section, who also authorize such reduction per pay period payable to the plan. A teacher's salary is defined as the basic salary schedule including Longevity I-IV and differentials, Subdivisions 1-3, but shall not include any additional compensation for extracurricular activities, extended employment, Longevity V, or other extra compensation. Subd. 2. The contributions to this plan are in lieu of the provisions of Section 2 (Plan One) and 3 (Insurance Coverage for Retirees) above.

Plan Two - Health and Welfare Savings Plan. Effective January 1, 1990, this section replaces Article VII (Retirement), Section 3 (Insurance Coverage for Retirees) of the 1987-1989 Teacher Master Agreement. Teachers initially employed or employed after a break in service by regular contract and who performed services after July 1, 1986, shall be entitled to the following:following:‌ Subd. 1. The school district will contribute 3.53.6% of salary per pay period for the first year of this contract and 3.53.6% of salary for the second year of this contract to a state-approved tax-deferred matching contribution plan for each teacher as permitted by Minnesota Statutes, subject to the provisions of this section, who also authorize such reduction per pay period payable to the plan. A teacher's salary is defined as the basic salary schedule including Longevity I-IV and differentials, Subdivisions 1-3, but shall not include any additional compensation for extracurricular activities, extended employment, Longevity V, or other extra compensation.compensation.‌ Subd. 2. The contributions to this plan are in lieu of the provisions of Section 2 (Plan One) and 3 (Insurance Coverage for Retirees) above.3‌

Plan Two - Health and Welfare Savings Plan. Effective January 1, 1990, this section replaces Article VII (Retirement), Section 3 (Insurance Coverage for Retirees) of the 1987-1989 Teacher Master Agreement. Teachers initially employed or employed after a break in service by regular contract and who performed services after July 1, 1986, shall be entitled to the following: Subd. 1. The school district will contribute 3.53.6% of salary per pay period for the first year of this contract and 3.53.6% of salary for the second year of this contract to a state-approved tax-deferred matching contribution plan for each teacher as permitted by Minnesota Statutes, subject to the provisions of this section, who also authorize such reduction per pay period payable to the plan. A teacher's salary is defined as the basic salary schedule including Longevity I-IV and differentials, Subdivisions 1-3, but shall not include any additional compensation for extracurricular activities, extended employment, Longevity V, or other extra compensation. Subd. 2. The contributions to this plan are in lieu of the provisions of Section 2 (Plan One) and 3 (Insurance Coverage for Retirees) above.3