SUPPLEMENTAL RETIREMENT ANNUITY PROGRAM Sample Clauses

SUPPLEMENTAL RETIREMENT ANNUITY PROGRAM. Employees of the College have access to different types of voluntary savings programs to assist with saving for retirement. These programs allow monies to be set via payroll deduction to help supplement post-retirement income from Social Security and employer sponsored pension plans. Through the pre-tax option, contributions, plus earnings, are not taxed until the employee withdraws the funds, allowing for even greater savings through tax-deferred growth. Through the post-tax option, contributions are taxed at the time the employee makes them (via payroll deduction), and when the employees withdraws the funds (contributions or earnings), the employee is not taxed. Use of the post-tax option may help maintain a balance against tax rates that increase over time. Supplemental retirement savings programs include:
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
SUPPLEMENTAL RETIREMENT ANNUITY PROGRAM. Employees of the College have access to two different types of voluntary tax-deferred savings programs to assist with saving for retirement. Both programs allow pre-tax monies to be set via payroll deduction to help supplement post-retirement income from Social Security and employer sponsored pension plans. Federal and state taxes are deferred until the money is withdrawn upon your retirement or separation from service allowing for even greater savings through tax-deferred growth. Tax deferred savings programs include:
Sample 1Sample 2
SUPPLEMENTAL RETIREMENT ANNUITY PROGRAM. Each member of the bargaining unit who is eligible may participate in this program. The College does not contribute to the cost of supplemental retirement annuities. top of page
Sample 1
SUPPLEMENTAL RETIREMENT ANNUITY PROGRAM. Each member of the bargaining unit who is eligible may participate in this program. The College does not contribute to the cost of supplemental retirement annuities.
Sample 1

Related to SUPPLEMENTAL RETIREMENT ANNUITY PROGRAM

  • Beneficiary Rollovers from Employer-Sponsored Retirement Plans If you are a spouse Beneficiary, nonspouse Beneficiary, or the trustee of an eligible type of trust named as Beneficiary of a deceased employer plan participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan to an inherited IRA. The IRA must be maintained as an inherited IRA, subject to the beneficiary distribution requirements.

  • Early Retirement Option The District may offer an early retirement incentive for unit members.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Annuity Plan Teachers will be eligible to participate in a "tax sheltered " Annuity Plan established pursuant to United States Public Law No. 87-370. Annuity deductions shall be made on a semi-monthly basis.

  • Post Retirement Health Care Benefit Employees who separate from State service and who, at the time of separation are insurance eligible and entitled to immediately receive an annuity under a State retirement program, shall be entitled to a contribution of two hundred fifty dollars ($250) to the Minnesota State Retirement System’s (MSRS) Health Care Savings Plan. Employees who have a HCSP waiver on file shall receive a two hundred fifty dollars ($250) cash payment. If the employee separates due to death, the two hundred fifty dollars ($250) is paid in cash, not to the HCSP. An employee who becomes totally and permanently disabled on or after January 1, 2008, who receives a State disability benefit, and is eligible for a deferred annuity under a State retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. Employees are eligible for this benefit only once.

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Broad Participation Retirement Fund A fund established in The Bahamas to provide retirement, disability, or death benefits, or any combination thereof, to beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that the fund:

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Non-Retirement Savings Accounts An account maintained in the Cayman Islands (other than an insurance or Annuity Contract) that satisfies the following requirements under the laws of the Cayman Islands.

Time is Money Join Law Insider Premium to draft better contracts faster.