Common use of Retirement Savings Plan Clause in Contracts

Retirement Savings Plan. 1. The Corporation shall contribute .5% of the employee’s scheduled salary into a 401(A) plan. 2. Teachers under a temporary contract are not eligible for this benefit. 3. The company selected to implement this program will be selected by the employer. 4. To be vested, the employee must have a minimum of ten (10) years teaching experience in this school corporation. 5. To be vested in the 403b Buyout Retirement/Severance Plan, the employee must be at least fifty-five (55) years of age, have at least twenty (20) years of total teaching experience, and have a minimum of ten (10) years teaching experience in this school corporation. These benefits are not available to any teacher hired after 2001.

Retirement Savings Plan. 1. The Corporation shall contribute .5% of the employee’s scheduled salary into a 401(A) plan. 2. Teachers under a temporary contract are not eligible for this benefit. 3. The company selected to implement this program will be selected by the employer. 4. To be vested, the employee must have a minimum of ten (10) years teaching experience in this school corporation. 5. To be vested in the 403b 403B Buyout Retirement/Severance Plan, the employee must be at least fifty-five (55) years of age, have at least twenty (20) years of total teaching experience, and have a minimum of ten (10) years teaching experience in this school corporation. These benefits are not available to any teacher hired after 2001.

Retirement Savings Plan. 1. The Corporation shall contribute .5% of the employee’s scheduled salary into a 401(A) plan. 2. Teachers under a temporary contract are not eligible for this benefit. 3. The company selected to implement this program will be selected by the employer.. DRAFT 4. To be vested, the employee must have a minimum of ten (10) years teaching experience in this school corporation. 5. To be vested in the 403b Buyout Retirement/Severance Plan, the employee must be at least fifty-five (55) years of age, have at least twenty (20) years of total teaching experience, and have a minimum of ten (10) years teaching experience in this school corporation. These benefits are not available to any teacher hired after 2001.