Tax Sheltered Annuity as Deferred Compensation Sample Clauses

Tax Sheltered Annuity as Deferred Compensation. The Board will make on the Superintendent’s behalf an annual contribution to a qualified tax sheltered annuity plan designated by the Board in accordance with the terms and conditions set forth in the School District’s Statement of Benefits. The Board’s annual contribution to the Superintendent’s tax sheltered annuity plan shall be 7% of the Superintendent’s annual base salary in effect at the time of the contribution, provided such contribution amount never exceeds the IRS limitations in effect during the contract year(s) in which such contribution(s) is made.
Sample 1
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Tax Sheltered Annuity as Deferred Compensation. The Board shall pay the Superintendent an additional salary amount of Ten Thousand and 00/100 Dollars ($10,000.00), which the Superintendent may, but need not, elect to be contributed to an Internal Revenue Code Section 403(a) or 403(b) plan available pursuant to SACS’ plan documents, for each Employment Year but no later than January 1 of the Employment Year. The amount paid to the Superintendent herein shall be subject to State and Federal taxes and, if permitted by law, be included in “annual compensation” as defined in IC 5-10.2-4.3(c) and used to determine the “average of annual compensation” defined in IC 5-10.2-4.3(b) and reported to the Indiana State Teacher Retirement Fund for purposes of calculating the Superintendent’s retirement benefit.
Sample 1
Tax Sheltered Annuity as Deferred Compensation. The Superintendent may participate in any qualified tax sheltered annuity plan designated by the Board in accordance with the terms and conditions set forth in the School Corporation’s Statement of Benefits. The Board will make an annual contribution to the Superintendent’s tax sheltered 401(a) annuity plan, which contribution shall never be below $850.00 annually but may be greater than $850.00 annually if approved by the Board through the Statement of Benefits. The Board will make an annual contribution to the Superintendent’s VEBA plan, which contribution shall never be below $850.00 annually but may be greater than $850.00 annually if approved by the Board through the Statement of Benefits.
Sample 1
Tax Sheltered Annuity as Deferred Compensation. In addition to the other compensation and benefits provided to the Superintendent pursuant to this Agreement, ACSC shall provide additional dollars for tax-deferred contributions to the Superintendent to the retirement plan arrangement described in Section 403(b) of the Internal Revenue Code (the “Code”) for each employment year. These payments shall be an annual amount equal to the sum of the maximum salary reduction contribution that the Superintendent could elect to contribute to a Code Section 403(b) plan for that employment year. The Superintendent shall complete the necessary forms to make these salary reduction contributions to the Code Section 403(b) plan sponsored by ACSC. ACSC shall take necessary actions to implement those forms and shall remit such salary reduction contributions to the Code Section 403(b) plan during the month of January each employment year. The Superintendent acknowledges that the salary reduction contributions will be characterized as wages for Social Security, FICA, and as compensation for purposes of contributions to the Indiana State Teachers’ Retirement Fund.
Sample 1

Related to Tax Sheltered Annuity as Deferred Compensation

  • Tax Sheltered Annuities The SPS shall continue to comply with the law(s) regarding Tax Sheltered Annuities.

  • Tax Sheltered Annuity Voluntary adjunct employee salary reductions for Internal Revenue Code Section 403(b) tax-sheltered annuities and 457(b) deferred compensation shall be available to adjunct employees covered by this Agreement. Contracts shall be arranged individually through the Office of the Executive Vice President for Finance and Administrative Services or designee subject to regulation by the College.

  • Tax Deferred Annuities The Board of Directors for the District shall provide and pay for such tax deferred annuities pursuant to RCW 28A.400.250 as the union shall request and the Board of Directors shall authorize. Payment for said annuities shall be at the option of the employee and deducted from the monthly salary as authorized by the individual employee.

  • Deferred Compensation Upon the consummation of the Initial Business Combination, the Company will cause the Trustee to pay to the Representative, on behalf of the Underwriters, the Deferred Discount. Payment of the Deferred Discount will be made out of the proceeds of the Offering held in the Trust Account. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount. If the Company fails to consummate its Initial Business Combination within the time period prescribed in the Amended and Restated Certificate of Incorporation, the Deferred Discount will not be paid to the Representative and will, instead, be included in the liquidation distribution of the proceeds held in the Trust Account made to the Public Stockholders. In connection with any such liquidation distribution, the Underwriters will forfeit any rights or claims to the Deferred Discount.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Deferred Compensation Program ‌ Unit members shall continue to be eligible to join the County’s Deferred Compensation Plan. Said employees will be bound by the same Plan, rules and participation agreements as are generally applicable to other County employees. DSA acknowledges that County retains the right to alter, amend, or repeal the current plan, rules, and participation agreements, at any time. The County shall not charge an administrative fee to participating employees.

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • REFUND OF UNEARNED COMPENSATION The Party of the Second Part agrees to refund the Party of the First Part any compensation received for which no services were rendered. TERMINATION: This contract may be terminated by either party pursuant to law. OTHER CONDITIONS: Any subsequent contracts shall supersede the provisions of this contract. Student Achievement and Accountability instructional staff may be required to serve students in more than one location. Given this, the 15TH OF SEPTEMBER, 2016. PARTIES: The Fort Xxxxx School District 100, Party of the First Part, and XXXXXXX X. XXXXXX Party of the Second Part, agree as follows:

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