Retirement Plan Contributions. The Department of Water and Power (Department) will make its Retirement Plan Contributions on behalf of the employees in bargaining units represented by Local 18 of the International Brotherhood of Electrical Workers (Local 18) by the end of the first work day following the 9th day of the month. Failure to do so shall obligate the Department to pay the higher of: interest at the rate of 8% per year, or the annual rate of return on the actuarial value of assets reported in the most recent valuation by the Retirement Board Actuary.
Retirement Plan Contributions. Bargaining unit faculty members shall be eligible to participate in the Public Employees Retirement System (PERS), the Oregon Public Service Retirement Plan (OPSRP), the Optional Retirement Plan (ORP), the Tax-Deferred Investment 403(b) Plan (TDI), and the Oregon Savings Growth Plan as set forth by Oregon law.
A. Public Employees Retirement System Individual Account Program (IAP). For work performed on and after January 1, 2004, Western Oregon University shall pay on behalf of members of the Public Employees Retirement System (PERS) the statutorily required employee contribution to the Individual Account Program under ORS 238A.330 and pursuant to ORS 238A.335, or under ORS 238.315 if the member elected assistance under ORS 243.920.
1. The full amount of the members’ required contributions paid by WOU to PERS on behalf of members shall be considered “salary” within the meaning of ORS 238.005 (26)(a) and ORS 238A.005(17)(b)(F) for the purpose of computing “final average salary” within the meaning of ORS 238.005 (9) and ORS 238A.130, but shall not be considered “salary” for the purposes of determining the amount of required employee contributions. Pursuant to ORS 238A.335(2)(a) and through the term of this Agreement, the parties agree that employee compensation has been reduced in order to generate the funds needed to make these employee contributions; the employer will file any required notices with the Public Employees Retirement Board.
2. If the employee IAP account under ORS 238A.300 is declared invalid or is otherwise eliminated and a replacement is not available, then effective upon the date of its invalidation or elimination, a corresponding general salary increase of six percent (6%) shall be paid to participating employees, or its equivalent, pursuant to the relevant chapter of law for governing PERS employee contributions.
Retirement Plan Contributions. A. Public Employees Retirement System Individual Account Program (IAP). For work performed on and after January 1, 2004, Western Oregon University shall pay on behalf of members of the Public Employees Retirement System (PERS) the statutorily required employee contribution to the Individual Account Program under ORS 238A.330 and pursuant to ORS 238A.335, or under ORS 238.215 if the member elected assistance under ORS 243.920.
1. The full amount of the members’ required contributions paid by WOU to PERS on behalf of members shall be considered as “salary” within the meaning of ORS
2. If the employee IAP account under ORS.238A.300 is declared invalid or is otherwise eliminated and a replacement is not available, then effective upon the date of its invalidation or elimination, a corresponding general salary increase of six percent (6%) shall be paid to participating employees, or its equivalent, pursuant to the relevant chapter of law for governing PERS employee contributions.
Retirement Plan Contributions. Notwithstanding anything contained herein to the contrary, in lieu of any cash compensation set forth in Sections 3(b) and 3(c), on annual basis Executive may elect, in their sole and absolute discretion, for Company to contribute to Executive’s retirement plan maintained by the Company such amount of cash compensation as directed by Executive, up to the maximum total annual combined contribution limit of employer and employees to retirement plans set forth by the Internal Revenue Service, and to deduct the same from Executive’s Base Compensation or Cash Incentive Bonus, as directed. Such amount shall be remitted as an employer contribution to Executive’s retirement plan maintained by the Company. Such retirement plan contributions shall be deducted by Company on a pre-tax basis, as applicable, from Executive’s cash compensation set forth in Sections 3(b) and 3(c).
Retirement Plan Contributions. The School Corporation shall also contribute Five Thousand Two Hundred Dollars ($5,950) per year to a section 403(b) plan and Three Thousand Four Hundred Fifty Dollars ($3,450) to a section 401(a) plan in order to provide a tax- sheltered retirement plan for Xxxxx’x benefit. Such payments shall be made in accordance with School Corporation practice.
Retirement Plan Contributions. The Department will make its Retirement Plan Contributions on behalf of the employees in bargaining units represented by Local 18 by the end of the first work day following the 9th day of the month. Failure to do so shall obligate the Department to pay the higher of: interest at the rate of 8% per year, or the annual rate of return on the actuarial value of assets reported in the most recent valuation by the Retirement Board Actuary.
Retirement Plan Contributions. Bargaining unit faculty members shall be eligible to participate in the Public Employees Retirement System (PERS), the Oregon Public Service Retirement Plan (OPSRP), the Optional Retirement Plan (ORP), the Tax-Deferred Investment 403(b) Plan (TDI), and the Oregon Savings Growth Plan as set forth by Oregon law.
Retirement Plan Contributions. During the term of this Agreement, the University’s contribution to the Defined Contribution portion of ERIP will be two and a half percent (2.5%).
Retirement Plan Contributions. The Plan will make a contribution to a disabled Employee’s account in the United Methodist Personal Investment Plan (UMPIP) or defined contribution account in the Retirement Plan for General Agencies (RPGA), as applicable, if plan sponsor was making contributions (non-matching, matching or conditional) to the Employee’s UMPIP or RPGA account for at least three months before the date of disability. The contribution will be equal to the contribution plan sponsor was making to UMPIP or RPGA on behalf of the Employee before the date of disability, but the contribution shall not exceed 3% of predisability compensation.
Retirement Plan Contributions. (Employee contribution @5% of Base Regular Salary to receive Sacred Heart University matching contribution @ 8% of Base Regular Salary) * TIAA Basic Retirement Account (Retirement Choice - RC) 100 %
