Salary Sacrifice for Employer Sample Clauses

Salary Sacrifice for Employer. Superannuation Under this Agreement, an employee may choose to sacrifice salary for employer superannuation contributions into a complying superannuation fund. The arrangement is available to all employees and participation is at the discretion of an individual employee. Under the arrangement, the following conditions apply: (a) An employee who currently has their employer superannuation guarantee contributions paid to a ‘Choice of Fund’ (employed after 10 August 1999) may salary sacrifice into that ‘Choice of Fund’ or another complying superannuation fund. (b) An employee who currently contributes 6% to Northern Territory Government and Public Authorities Superannuation Scheme (NTGPASS) may salary sacrifice into the NTGPASS or another complying superannuation fund. (c) An employee who currently contributes to the Commonwealth Superannuation Scheme (CSS) is not able to salary sacrifice into that scheme, but can salary sacrifice into a complying superannuation fund. (d) While there is no limit to the amount an employee can salary sacrifice to superannuation, the amount sacrificed plus any other employer contributions, will be assessed against the Commonwealth concessional contribution cap relevant to their age. (e) The arrangement operates at no additional cost to the Northern Territory Government, either directly or indirectly. (f) The arrangement does not operate to reduce employer superannuation contributions for employees that would ordinarily be payable by the Northern Territory Government in the absence of salary sacrifice arrangements. (g) When an employee who is a member of the CSS or NTGPASS enters into a salary sacrifice for employer superannuation arrangement, the employee’s annual rate of salary for superannuation purposes shall remain at the rate set out in this Agreement (that is, the salary sacrifice arrangement has no effect on the employee’s annual rate of salary for superannuation purposes).
AutoNDA by SimpleDocs
Salary Sacrifice for Employer. Superannuation Under this Agreement, an employee may choose to sacrifice salary for employer superannuation contributions into a complying superannuation fund. The arrangement is available to all employees and participation is at the discretion of an individual employee. Under the arrangement, the following conditions apply: a) An employee who currently has their employer superannuation guarantee contributions paid to a ‘Choice of Fund’ (employed after 10 August 1999) may salary sacrifice into that ‘Choice of Fund’ or another complying superannuation fund; b) An employee who currently contributes 6% to Northern Territory Government and Public Authorities Superannuation Scheme (NTGPASS) may salary sacrifice into the NTGPASS or another complying superannuation fund;

Related to Salary Sacrifice for Employer

  • SALARY DETERMINATION FOR EMPLOYEES IN ADULT EDUCATION [Not applicable in School District No. 62 (Sooke)]

  • Salary Sacrifice (a) Where an Employee wishes to have their pay salary sacrificed for additional superannuation, the Employer will comply with the Employee’s request without unreasonable delay and consistent with any relevant statutory requirements. (b) All entitlements and benefits contained in this Agreement will be calculated on the pre-salary sacrifice pay rate.

  • Salary Scale The salary scale applicable to Employees shall be set out hereinafter in the Wage Schedule.

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • SALARY SACRIFICE ARRANGEMENTS 34.1 Employees covered by this Agreement will have access to salary sacrifice arrangements in addition to the compulsory arrangement detailed above. The requirements of any such arrangements shall ensure that: (a) Accessing a salary sacrifice arrangement is a voluntary decision to be made by the individual Employee. (b) An Employee wishing to enter into a salary sacrifice arrangement will be required to notify their Employer in writing of the intention to do so and have sought expert advice in relation to entering into such an arrangement. (c) The Employer shall meet the cost of implementing the administrative and payroll arrangements necessary for the introduction of salary sacrifice to the Employees under the Agreement. (d) The co-contribution of superannuation payments referred to herein shall be made by way of salary sacrifice arrangements.

  • Compensation/Benefit Programs During the Term of Employment, the Executive shall be entitled to participate in all medical, dental, hospitalization, accidental death and dismemberment, disability, travel and life insurance plans, and any and all other plans as are presently and hereinafter offered by the Company to its executive personnel, including savings, pension, profit-sharing and deferred compensation plans, subject to the general eligibility and participation provisions set forth in such plans.

  • Salary Scales ‌ 2.5.1 Effective from 1 January 2024, and subject to the Remuneration provisions in the Terms of Settlement, a 4% increase will apply to all paid and printed rates. The following Allied Divisions shall refer to the applicable schedules for their scales: MIT, UCOL and Otago. 2.5.2 Effective from 1 January 2025, kaimahi will be translated into the following salary scale, which includes the 4% salary increase: Band Step (N/A for UCOL and TOPNZ) Scale Scale 2025 (4%) 40 hours Band Step(N/A for UCOL and TOPNZ Scale 2025 (4%) Scale 2025 (4%)

  • SERVICE FOR PREDECESSOR EMPLOYER If the Employer maintains the plan of a predecessor employer, the Plan treats service of the Employee with the predecessor employer as service with the Employer. If the Employer does not maintain the plan of a predecessor employer, the Plan does not credit service with the predecessor employer, unless the Employer identifies the predecessor in its Adoption Agreement and specifies the purposes for which the Plan will credit service with that predecessor employer.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!