Retirement and Deferred Compensation. City shall contribute the employer’s and Employee’s portion of cost of membership in the Public Employees Retirement System (PERS) during the term of this Agreement. City shall also make available to Employee a qualified deferred compensation program under Internal Revenue Code Section 457 and will match any contributions Employee may make to that plan consistent with the City match provided to all other employees (currently 2% of the employee’s salary).
Retirement and Deferred Compensation. Section 1. Commencing with the 1994-95 school year, full-time custodians and part-time custodians on pro-rata basis, are entitled to a matching School District contribution to the Minnesota Deferred Compensation Plan (Minn. Stat. 352.96 and 356.24(a)(4)) or a Tax Sheltered Annuity (Minn. Stat. 356.24 and Internal Revenue code 403(b)) on the following basis: 0 - 3 years of actual service to the Shakopee School District. 0% In excess of three (3) years of actual service to the Shakopee School District 2.5% of salary Match will be made effective 1st payroll of the next available open enrollment.
Retirement and Deferred Compensation. Employee shall be enrolled in the applicable retirement system available to Employee pursuant to the laws of the State of Washington. Both the City and Employee shall make the contributions that are required to be made in accordance with the applicable laws of the State of Washington. The City shall pay the Employer’s contribution towards the Employee’s federal social security benefits. The City shall make available to the Employee voluntary deferred compensation plans for long-term savings for retirement.
Retirement and Deferred Compensation. Employee shall be eligible to participate in Xxxxxxx’x 401k plan and Xxxxxxx’x non-qualified deferred compensation plan to the extent provided by the terms of such plans.
Retirement and Deferred Compensation. 13.1 Employees are eligible for coverage under Retirement and Social Security Law Section 384-e, according to the terms and conditions of such plan.
13.2 The District will maintain a qualified Deferred Compensation Plan (Internal Revenue Code Section 457), with participation, rights and responsibilities subject to the provisions of the Plan. The District shall have the right to design and administer this plan, and shall pay for the administrative costs thereof.
Retirement and Deferred Compensation. A. Employee is enrolled in the Public Employee Retirement System (PERS), and the City shall make all legally required City contributions for Employee's participation in said system. Employee shall be responsible for paying all legally required Employee contributions for Employee's participation in the said retirement system.
B. In addition to City's payment to PERS, described above, City shall pay monthly an amount equal to One Hundred and Twenty-Five dollars ($125.00) into a qualified Section 457 or similar program designated by Employee, as deferred compensation, in equal proportionate amounts for each pay period. City shall execute all necessary agreements required to establish such a plan.
Retirement and Deferred Compensation. The Superintendent shall be eligible to participate in the retirement programs of the Midland Public Schools on the same basis as all other full-time administrative employees of the Midland Public Schools. In addition, to the aforementioned compensation, the Board agrees to annually contribute 5% of the Superintendent’s annual salary to a tax-deferred annuity program. Such annual contribution shall be made between November 15 and December 15 each year during the Term of this Agreement.
