RETIREMENT SAVINGS PROGRAM. The Employer will make available a 401(k) program for employees to invest in for retirement purposes. The Employer does not make any contributions to this program but agrees that it will do so on the same terms and conditions as other Company healthcare facilities if the Employer begins a contribution program on a statewide basis. The employer shall maintain its Employee Stock Ownership Program (ESOP) for bargaining unit employees on the same basis as it does for non-bargaining unit employees.
RETIREMENT SAVINGS PROGRAM. The Employer shall provide a 401(k) Retirement Employee Savings Plan for the term of this Agreement. Employees may elect to participate in the Employer’s 401(k) Retirement Savings Plan upon hire or during open enrollment, or for any other qualifying event. The Employer does not currently make any contributions to this program but agrees that it will do so on the same terms and conditions as other Cascadia Healthcare facilities if the Employer begins a contribution program.
RETIREMENT SAVINGS PROGRAM. 1. The Board of Managers agrees to establish and maintain a qualified 401(a) Annuity Plan (hereafter referred to as the “401(a) Plan”) for all certified employees covered under this collective bargaining agreement. The 401(a) Plan shall be available for all certified employees.
2. The Board of Managers shall also maintain a 403(b) Plan (hereafter referred to as the “403(b) Plan”) for all certified employees covered under this collective bargaining agreement. The 403(b) Plan will include provisions for pre-tax salary reduction contributions which will be matched by equal Board contributions to the 401(a) Plan. The 401(a) Plan contributions will commence with the 1999-2000 contract year and continue each contract year thereafter. The contribution that will be made to the 401(a) Plan by the Board will be up to a maximum of 2.5%.
3. The Board of Managers shall also maintain, in accordance with the IRS rules and regulations, a 403(b) Post Separation Plan for all certified employees covered under this collective bargaining agreement.
4. The contributions made by the certified employees and matched dollar-for-dollar by the Board shall be an amount which reflects the appropriate percent of the certified employee’s base salary as set forth on the certified employee’s Teacher’s Contract, which corresponds to his/her placement on the salary schedule.
5. The Parties agree that the 401(a) Plan and the 403(b) Plan shall replace the current annual payment made to early retiring employees which is described in Article IV, Section B of the contract. The parties further agree that all contributions made to the 401(a) Plan by the School shall be considered an additional funds and be counted as part of any package increases negotiated for the certified employees.
6. For those certified employees who participate in the 401(a) Plan, the annual payment for those electing retirement will remain in effect until such earlier time as a certified employee receives a greater return from the School’s contribution to the new 401(a) Plan plus accrued earnings, than he/she would receive under the current early retirement program. The contributions plus accrued earnings to the 401(a) Plan by the Board will be counted as an offset to the amount that the certified employee would have received had he/she retired under the current retirement program. The offset shall be calculated as soon as administratively possible following the final 401(a) contribution into his/her respective account.
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RETIREMENT SAVINGS PROGRAM. Employees covered under this Collective Bargaining Agreement shall be eligible to join the State of Maryland Deferred Compensation Program.
RETIREMENT SAVINGS PROGRAM. All contributions are discontinued while on furlough (short term layoff).
RETIREMENT SAVINGS PROGRAM. You will be eligible to participate in CG’s salaried employee RRSP/DPSP program effective from your Start Date. The Company will match individual biweekly contributions made to your RRSP up to a maximum of 3% base salary.
RETIREMENT SAVINGS PROGRAM. The Executive will be eligible to participate in the Company’s group RRSP, subject to the terms and conditions of the applicable plan; it being understood the Executive shall not be eligible to participate in the Company’s DPSP program and the Company shall not match the Executive’s contributions made to his RRSP.
RETIREMENT SAVINGS PROGRAM. The Employer will make available a 401(k) program for employees to invest in for retirement
RETIREMENT SAVINGS PROGRAM. May All new employees hired after be required to participate in the will The required rate of member and employer contributions to the member’s shall be each of regular earnings. Effective May Effective January change to question because of a change in his shift schedule, will have earnings for all hours worked up to forty (Day Worker) or the normal weekly hours (Tour Worker) used as the basis for calculating Company and employee contributions. Effective, of the month following ratification. In addition to the required minimum rates of member contributions set above, a member may elect to contribute an additional percentage of earnings in respect of each pay period, but not in excess of his available contributions room. For members in receipt of or benefits, the company’s contributions shall be of the benefit paid effective January 1,2013). Upon termination or death the member of the will be entitled to of the value of their account (including employer contributions plus interest), in addition to life insurance in the case of death. Any charges for the administration of the will be paid by the employer. It is understood that investment fees will be charged to the assets of the Plan. Life and Health Coverage age A member of the who retires on or after age whose age and service when combined are equal to or greater than will be eligible to receive a paid-up life insurance policy. Alternatively, the retiree may direct that the company pay, on behalf, the premiums attached to the Health coverage offered by the Company and selected by the retiree and to allocate monies to an until such time as the has been paid-out or the retiree reaches whichever occurs sooner.”
RETIREMENT SAVINGS PROGRAM. The Company shall offer to all employees that have completed at least one (1) year of service; the opportunity to participate in a Registered Retirement Savings Program (RRSP). Participation in said Program is voluntary. Employees can invest, by payroll deduction, in the RRSP as outlined by the Company. For each one dollar ($1.00) invested by the employee, the Company will deposit fifty cents ($.50) into the employee’s account. The Company’s maximum annual contribution match will be five hundred dollars ($500.00). Enrollment in said Program can only be accomplished on the first day of a calendar month, and will begin prospectively once an enrollment form is received by the Company. Upon resignation, retirement, or termination, the RRSP fund will be transferred to a financial institution designated by the employee.
