Retirement Compensation Program Sample Clauses

Retirement Compensation Program. “A” 1. Effective October 1, 2002, the District implemented a new form of additional compensation in which funds are invested into an individual 403(b) Plan of the employee’s choice. This program was made available to contract employees not eligible for Early Retirement (Under the Supplemental Early Retirement Incentive (ERI) Agreement), and contract employees who opted for this Program in lieu of Early Retirement benefits outlined in the Supplemental ERI Agreement.
Sample 1Sample 2
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Retirement Compensation Program. “A” 1. Effective October 1, 2002, the District implemented a new form of additional compensation in which funds are invested into an individual 403(b) Plan of the employee’s choice. This program was made available to contract employees not eligible for Early Retirement (Under the Supplemental Early Retirement Incentive (ERI) Agreement), and contract employees who opted for this Program in lieu of Early Retirement benefits outlined in the Supplemental ERI Agreement. 2. Contract employees eligible for Early Retirement (under the Supplemental ERI Agreement) had a choice to opt into the 403(b) Retirement Compensation Program, in lieu of Early Retirement (benefits under the Supplemental ERI Agreement) according to the following:  Contract employees chose the Retirement Compensation Program (outlined in this Article) in lieu of the Early Retirement Option (in the Supplemental ERI Agreement) by completing an option choice form between September 2002 and December 15, 2002.  Contract employees who opted for the 403(b) Retirement Compensation Program (outlined in this Article) may not opt back into Early Retirement (in the Supplemental ERI Agreement).  As outlined below (#5), the Xxxx Xxxxx School District deposited seed money into the personal 403(b) account of contract employees who had a minimum of ten (10) years of service with the District who choose the Retirement Compensation Program (outlined in this Section A).
Sample 1
Retirement Compensation Program. “A” 1. Effective October 1, 2002, the District implemented a new form of additional compensation in which funds are invested into an individual 403(b) Plan of the employee’s choice. This program was made available to contract employees not eligible for Early Retirement (Under the Supplemental Early Retirement Incentive (ERI) Agreement), and contract employees who opted for this Program in lieu of Early Retirement benefits outlined in the Supplemental ERI Agreement. 2. Contract employees eligible for Early Retirement (under the Supplemental ERI Agreement) had a choice to opt into the 403(b) Retirement Compensation Program, in lieu of Early Retirement (benefits under the Supplemental ERI Agreement) according to the following: • Contract employees who opted for the 403(b) Retirement Compensation Program (outlined in this Article) may not opt back into Early Retirement (in the Supplemental ERI Agreement).
Sample 1

Related to Retirement Compensation Program

  • Employment Compensation Schedule 3.16 contains a true and correct list of all employees to whom Company is paying compensation, including bonuses and incentives, at an annual rate in excess of Fifteen Thousand Dollars ($15,000) for services rendered or otherwise; and in the case of salaried employees such list identifies the current annual rate of compensation for each employee and in the case of hourly or commission employees identifies certain reasonable ranges of rates and the number of employees falling within each such range.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.

  • Management Compensation As compensation for your services in the management of the offering, we will pay you an amount equal to the management fee specified in the Invitation in respect of the Securities to be purchased by us pursuant to the Purchase Agreement, and we authorize you to charge our account with such amount. If there is more than one Representative, such compensation shall be divided among the Representatives in such proportions as they may determine.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

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