Common use of Special Benefit for Permanent Employees Hired on and after January 1, 2011 Clause in Contracts

Special Benefit for Permanent Employees Hired on and after January 1, 2011. A. Beginning on April 1, 2011 and for the term of this resolution, the County will contribute one hundred and fifty dollars ($150) per month to an employee’s account in the Contra Costa County Deferred Compensation Plan, or other tax-qualified savings program designated by the County, for employees who meet all of the following conditions: 1. The employee must be hired by Contra Costa County on or after January 1, 2011. 2. The employee must be appointed to a permanent position. The position may be either full time or part time, but if it is part time, it must be designated, at a minimum, as 20 hours per week. 3. The employee must have been employed by Contra Costa County for at least 90 calendar days. 4. The employee must contribute a minimum of twenty-five dollars ($25) per month to the Contra Costa County Deferred Compensation Plan, or other tax-qualified savings program designated by the County. 5. The employee must complete and sign the required enrollment form(s) for his/her deferred compensation account and submit those forms to the Human Resources Department,

Special Benefit for Permanent Employees Hired on and after January 1, 2011. A. Beginning on April 1, 2011 and for the term of this resolution, the County will contribute one hundred and fifty dollars ($150) per month to an employee’s account in the Contra Costa County Deferred Compensation Plan, or other tax-qualified savings program designated by the County, for employees who meet all of the following conditions: 1. The employee must be hired by Contra Costa County on or after January 1, 2011. 2. The employee must be appointed to a permanent position. The position may be either full time or part time, but if it is part time, it must be designated, at a minimum, as 20 hours per week. 3. The employee must have been employed by Contra Costa County for at least 90 calendar days. 4. The employee must contribute a minimum of twenty-five dollars ($25) per month to the Contra Costa County Deferred Compensation Plan, or other tax-qualified savings program designated by the County. 5. The employee must complete and sign the required enrollment form(s) for his/her deferred compensation account and submit those forms to the Human Resources Department,, Employee Benefits Services Unit. 6. The employee may not exceed the annual maximum contribution amount allowable by the United States Internal Revenue Code.