Tax-Deferred Retirement. The County shall continue the tax-deferred retirement plan, known as 414H(2) for the duration of the Memorandum of Understanding (unless the Internal Revenue Service rules that 414H(2) is no longer applicable).
Tax-Deferred Retirement Sample Clauses
Related to Tax-Deferred Retirement
Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.
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.
