Retirement Deductions Clause Samples
The Retirement Deductions clause outlines how contributions are withheld from an employee’s pay to fund retirement benefits. Typically, this clause specifies the percentage or amount to be deducted, the frequency of deductions, and the type of retirement plan involved, such as a 401(k) or pension scheme. By clearly defining these procedures, the clause ensures both employer and employee understand their financial obligations, promoting transparency and compliance with retirement savings requirements.
Retirement Deductions. 1. Additional voluntary retirement deductions.
2. Purchase of military and other buy-back retirement options.
Retirement Deductions. The College will offer employees the ability to make voluntary contributions toward tax sheltered annuities (403(B)) and/or Oregon Growth Savings Plan (457) investment plans. These plans must be on the College’s approved vendor list. Contributions will be calculated based on a percentage of income.
Retirement Deductions. The Board shall have the deductions for STRS made in equal amounts over a twelve (12) month period.
Retirement Deductions. The CONSULTANT shall be reimbursed for all Kentucky Teachers Retirement System payroll deductions to the extent permissible by law.