Retirement Funding. Employer shall deposit annually the maximum allowable SEP IXX contribution at an individual retirement account designated by Employee and for the benefit of Employee.
Retirement Funding. Employer shall make monthly retirement contributions to the International City Management Association Retirement Corporation (ICMA RC) on Employee’s behalf in the amount of ten percent (10%) of Employee’s monthly base salary. This contribution is in lieu of any retirement contribution referred to in the City of Fruita Employee Handbook, or any subsequently adopted personnel policies and procedures.
Retirement Funding. The parties understand and agree that the unfunded accrued actuarial liability (UAAL) for the enhanced retirement benefits is being funded through StanCERA reserve accounts of approximately $50 million. This includes any reserves that were previously designated for negotiations and legal contingencies. These reserves have been provided for this purpose through an agreement between the County and StanCERA.
Retirement Funding. In the event the DTG Board of Directors approves the funding of a retirement contribution for 2006 for officers of DTG, Employee shall be entitled to receive a retirement contribution at an amount equal to that which he would have received had he remained as an officer of DTG for the full 2006 calendar year. Any retirement contribution approved by the DTG Board of Directors shall be paid at the same time as all other officers of DTG but in no event later than March 9, 2007.
