Common use of Tax-Deferred Savings Plans Clause in Contracts

Tax-Deferred Savings Plans. 16.8.1 The District will make an employer matching payment to the tax-deferred savings plans. The District payment will be made to the State of Minnesota Deferred Compensation Plan (457) and/or the Special School District No. 1 (403(b) Plan. All employer and employee amounts paid to the State of Minnesota Deferred Compensation Plan (457) are subject to Social Security and Medicare taxes. All employee contributions to the 403(b) plan are subject to Social Security and Medicare taxes, but employer contributions to the 403(b) plan are not subject to Social Security and Medicare taxes. Employees should ensure tax-deferred payments do not exceed IRS limits. If limits are exceeded, the District will stop deductions to these accounts.

Tax-Deferred Savings Plans. 16.8.1 The District will make an employer matching payment to the tax-deferred savings plans. The District payment will be made to the State of Minnesota Deferred Compensation Plan (457) and/or the Special School District No. 1 (403(b) Plan. All employer and employee amounts paid to the State of Minnesota Deferred Compensation Plan (457) are subject to Social Security and Medicare taxes. All employee contributions to the 403(b) plan are subject to Social Security and Medicare taxesMedicare, but employer contributions to the 403(b) plan are not subject to Social Security and Medicare taxesMedicare. Employees should ensure tax-deferred payments do not exceed IRS limits. If limits are exceeded, the District will stop deductions to these accounts.

Tax-Deferred Savings Plans. 16.8.1 The District district will make an employer matching payment to the tax-deferred savings plans. The District payment will be made to the State of Minnesota Deferred Compensation Plan (457) and/or the Special School District No. 1 (403(b) Plan. All employer and employee amounts paid to the State of Minnesota Deferred Compensation Plan (457) are subject to Social Security social security and Medicare taxes. All employee contributions to the 403(b) plan are subject to Social Security and Medicare taxesMedicare, but employer contributions to the 403(b) plan are not subject to Social Security and Medicare taxesMedicare. Employees should ensure tax-deferred payments do not exceed IRS limits. If limits are exceeded, the District will stop deductions to these accounts.