Common use of Supplemental Retirement Programs Clause in Contracts

Supplemental Retirement Programs. A. An employee of the Retirement System (DB Plan) may elect to participate in the "Savings Plan for Employees of the Town of Greenwich" (401-k and 457) via payroll deduction as long as such plan is approved pursuant to applicable Federal or State law, rules and/or regulations pertaining thereto. Effective July 1, 2005, no new 403(b) accounts will be opened for employees. An employee with an existing 403(b) account as of July 1, 2005 may continue to defer compensation to such account. In January of each year the Town shall match a permanent full-time employee’s contribution to his or hers 401-k, 457 or 403(b) deferred compensation account for prior calendar year contributions to a maximum of two thousand twothree hundred dollars ($2,2300). The maximum Town match shall increase to two thousand three four hundred fifty dollars ($2,34500) in January 20186 for 20175 employee contributions and to two thousand five hundred seventy-five dollars ($2,575) in January 2019 for 2018 employee contributions. There is no vesting requirement for this Town match. An employee who terminates from active Town service may be eligible for a match the following January provide that the employee maintains an active account with the Savings Plan for Employees of the Town of Greenwich. (i) An employee enrolled in the DC Plan may elect to participate in the "Savings Plan for Employees of the Town of Greenwich" (457 only) via payroll deduction as long as such plan is approved pursuant to applicable Federal or State law, rules and/or regulations pertaining thereto. (ii) An employee enrolled in the DC Plan may elect to make additional pre tax contributions to the DC Plan above the mandatory 5 % contribution as a supplemental retirement savings plan. (iii) In January of each year the Town shall match a permanent full-time employee’s contribution to wages deferred pursuant to B (i) or B (ii) above for prior calendar year contributions to a maximum of two thousand twothree hundred dollars ($2,2300). The maximum Town match shall increase to two thousand three four hundred fifty dollars ($2,34500) in January 20186 for 20175 employee contributions and two thousand five hundred seventy-five dollars ($2,575) in January 2019 for 2018 employee contributions. There is no vesting requirement for this Town match. An employee who terminates from active Town service may be eligible for a match the following January provide that the employee maintains an active account with the Savings Plan for Employees of the DC Plan as may be applicable. C. Permanent part-time employees may elect to defer wages to the "Savings Plan for Employees of the Town of Greenwich" (401-k only).

Supplemental Retirement Programs. A. An employee of the Retirement System (DB Plan) may elect to participate in the "Savings Plan for Employees of the Town of Greenwich" (401-k and 457) via payroll deduction as long as such plan is approved pursuant to applicable Federal or State law, rules and/or regulations pertaining thereto. Effective July 1, 2005, no new 403(b) accounts will be opened for employees. An employee with an existing 403(b) account as of July 1, 2005 may continue to defer compensation to such account. In January of each year the Town shall match a permanent full-time employee’s contribution to his or hers 401-k, 457 or 403(b) deferred compensation account for prior calendar year contributions to a maximum of two thousand twothree two hundred dollars ($2,23002,200). The maximum Town match shall increase to two thousand three four hundred fifty dollars ($2,345002,300) in January 20186 2016 for 20175 employee contributions and to two thousand five hundred seventy-five dollars ($2,575) in January 2019 for 2018 2015 employee contributions. There is no vesting requirement for this Town match. An employee who terminates from active Town service may be eligible for a match the following January provide that the employee maintains an active account with the Savings Plan for Employees of the Town of Greenwich. (i) An employee enrolled in member of the Town of Greenwich Retirement Savings Plan (the DC Plan Plan) may elect to participate in the "Savings Plan for Employees of the Town of Greenwich" (457 only) via payroll deduction as long as such plan is approved pursuant to applicable Federal or State law, rules and/or regulations pertaining thereto. (ii) An employee enrolled in the Town of Greenwich Retirement Savings Plan (DC Plan Plan) may elect to make additional pre tax contributions to the DC Plan above the mandatory 5 % contribution as a supplemental retirement savings plan. (iii) In January of each year the Town shall match a permanent full-time employee’s contribution to wages deferred pursuant to B (i) or B (ii) above for prior calendar year contributions to a maximum of two thousand twothree two hundred dollars ($2,23002,200). The maximum Town match shall increase to two thousand three four hundred fifty dollars ($2,345002,300) in January 20186 2016 for 20175 employee contributions and two thousand five hundred seventy-five dollars ($2,575) in January 2019 for 2018 2015 employee contributions. There is no vesting requirement for this Town match. An employee who terminates from active Town service may be eligible for a match the following January provide that the employee maintains an active account with the Savings Plan for Employees of the Town of Greenwich or the Town of Greenwich Retirement Savings Plan (DC Plan Plan) as may be applicable. C. Permanent part-time employees may elect to defer wages to the "Savings Plan for Employees of the Town of Greenwich" (401-k only).

Supplemental Retirement Programs. A. An employee of the Retirement System (DB Plan) may elect to participate in the "Savings Plan for Employees of the Town of Greenwich" (401-k and 457) via payroll deduction as long as such plan is approved pursuant to applicable Federal or State law, rules and/or regulations pertaining thereto. Effective July 1, 2005, no new 403(b) accounts will be opened for employees. An employee with an existing 403(b) account as of July 1, 2005 may continue to defer compensation to such account. In January of each year the Town shall match a permanent full-time employee’s contribution to his or hers 401-k, 457 or 403(b) deferred compensation account for prior calendar year contributions to a maximum of two thousand twothree three hundred dollars ($2,23002,300). The maximum Town match shall increase to two thousand three four hundred fifty dollars ($2,34500) in January 20186 for 20175 employee contributions and to two thousand five hundred seventy-five dollars ($2,575) in January 2019 for 2018 employee contributions. There is no vesting requirement for this Town match. An employee who terminates from active Town service may be eligible for a match the following January provide that the employee maintains an active account with the Savings Plan for Employees of the Town of Greenwich. (i) An employee enrolled in the DC Plan may elect to participate in the "Savings Plan for Employees of the Town of Greenwich" (457 only) via payroll deduction as long as such plan is approved pursuant to applicable Federal or State law, rules and/or regulations pertaining thereto. (ii) An employee enrolled in the DC Plan may elect to make additional pre tax contributions to the DC Plan above the mandatory 5 % contribution as a supplemental retirement savings plan. (iii) In January of each year the Town shall match a permanent full-time employee’s contribution to wages deferred pursuant to B (i) or B (ii) above for prior calendar year contributions to a maximum of two thousand twothree three hundred dollars ($2,23002,300). The maximum Town match shall increase to two thousand three four hundred fifty dollars ($2,34500) in January 20186 for 20175 employee contributions and two thousand five hundred seventy-five dollars ($2,575) in January 2019 for 2018 employee contributions. There is no vesting requirement for this Town match. An employee who terminates from active Town service may be eligible for a match the following January provide that the employee maintains an active account with the Savings Plan for Employees of the DC Plan as may be applicable. C. Permanent part-time employees may elect to defer wages to the "Savings Plan for Employees of the Town of Greenwich" (401-k only).

Supplemental Retirement Programs. A. An employee of the Retirement System (DB Plan) may elect to participate in the "Savings Plan for Employees of the Town of Greenwich" (401-k and 457) via payroll deduction as long as such plan is approved pursuant to applicable Federal or State law, rules and/or regulations pertaining thereto. Effective July 1, 2005, no new 403(b) accounts will be opened for employees. An employee with an existing 403(b) account as of July 1, 2005 may continue to defer compensation to such account. In January of each year the Town shall match a permanent full-time employee’s contribution to his or hers 401-k, 457 or 403(b) deferred compensation account for prior calendar year contributions to a maximum of two thousand twothree hundred dollars ($2,23002,200). The maximum Town match shall increase to two thousand three four hundred fifty dollars ($2,345002,300) in January 20186 2016 for 20175 2015 employee contributions and to two thousand five hundred seventy-five dollars ($2,575) in January 2019 for 2018 employee contributionscontributions2,300). There is no vesting requirement for this Town match. An employee who terminates from active Town service may be eligible for a match the following January provide that the employee maintains an active account with the Savings Plan for Employees of the Town of Greenwich. B. B. (i) An employee enrolled in the DC Plan may elect to participate in the "Savings Plan for Employees of the Town of Greenwich" (457 only) via payroll deduction as long as such plan is approved pursuant to applicable Federal or State law, rules and/or regulations pertaining thereto. (ii) An employee enrolled in the DC Plan may elect to make additional pre tax contributions to the DC Plan above the mandatory 5 % contribution as a supplemental retirement savings plan. (iii) In January of each year the Town shall match a permanent full-time employee’s contribution to wages deferred pursuant to B (i) or B (ii) above for prior calendar year contributions to a maximum of two thousand twothree two hundred dollars ($2,23002,200). The maximum Town match shall increase to two thousand three four hundred fifty dollars ($2,345002,300) in January 20186 2016 for 20175 employee contributions and two thousand five hundred seventy-five dollars ($2,575) in January 2019 for 2018 2015 employee contributions. There is no vesting requirement for this Town match. An employee who terminates from active Town service may be eligible for a match the following January provide that the employee maintains an active account with the Savings Plan for Employees of the DC Plan as may be applicable. C. C. Permanent part-time employees may elect to defer wages to the "Savings Plan for Employees of the Town of Greenwich" (401-k only).