TRS Three Year Plan Sample Clauses

TRS Three Year Plan. If an eligible employee gives the Board a letter of retirement on or before March 1, three (3) years prior to the year of retirement, the employee will be removed from the salary schedule and for the final three (3) years of employment the employee’s TRS creditable earning shall be increased by six percent (6%) over the employee’s TRS creditable earnings for the prior years of employment respectively.
Sample 1Sample 2
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TRS Three Year Plan. If an eligible employee gives the Board a letter of retirement on or before March 1, three (3) years prior to the year of retirement, the employee will be removed from the salary schedule and for the final three (3) years of employment the employee’s TRS creditable earning shall be increased by six percent (6%) over the employee’s TRS creditable earnings for the prior years of employment respectively. Example: The employee will retire at the end of 2014-15 school year. • The employee’s prior year TRS creditable earnings for 2011-12 were $40,000. • The employee’s TRS creditable earnings for 2012-13 will be $42,400. (i.e., $40,000 x 1.06=$42,400.) • The creditable earnings for 2013-14 will be $44,944 (i.e. $42,400 x 1.06=$44,944). • The creditable earnings for the final year of 2014-15 will be $47,640.64. (i.e., $44,944 x 1.06 = $47,640.64).
Sample 1

Related to TRS Three Year Plan

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • 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.

  • Benefit Waiting Period Allowance (a) An employee who qualifies for and takes leave pursuant to 21.1 or 21.2 and is required by Employment Insurance to serve a one-week waiting period for Employment Insurance Maternity/Parental benefits, shall be paid a leave allowance equivalent to one week at 85% of the employee's basic pay.

  • Multi-Year Planning The CAPS will be in a form acceptable to the LHIN and may be required to incorporate (1) prudent multi-year financial forecasts; (2) plans for the achievement of performance targets; and (3) realistic risk management strategies. It will be aligned with the LHIN’s then current Integrated Health Service Plan and will reflect local LHIN priorities and initiatives. If the LHIN has provided multi-year planning targets for the HSP, the CAPS will reflect the planning targets.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Fiscal Year; Taxable Year The fiscal year and the taxable year of the Company is the calendar year.

  • Contribution Eligibility You are eligible to make a regular contribution to your Xxxx XXX, regardless of your age, if you have compensation and your MAGI is below the maximum threshold. Your Xxxx XXX contribution is not limited by your participation in an employer-sponsored retirement plan, other than a Traditional IRA.

  • Tax-Deferred Earnings The investment earnings of your IRA are not subject to federal income tax until distributions are made (or, in certain instances, when distributions are deemed to be made).

  • First Year Wage Adjustment Effective July 1, 2017, all salary ranges and rates shall be increased by two percent (2.0%), rounded to the nearest cent. The compensation grids for classes covered by this Agreement are contained in Appendix E-1. Employees shall convert to the new compensation grid as provided in Section 2.

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