UPP Contributions Sample Clauses

UPP Contributions. 17.2.1 UPP Retirement Plan for employees employed in the bargaining unit as of June 30, 2017. For bargaining unit employees employed as of June 30, 2017, the Employer shall continue current contributions, including “pick up” of a six percent (6%) employee retirement plan contribution for eligible employees participating in the UPP. Such “pick-up” or payment of the employee contributions shall continue for the life of this Agreement. Bargaining unit employees who become members of the bargaining unit after June 30, 2017 and who elect to participate in the UPP pursuant to Section 17.1 above shall participate in the UPP in accordance with the terms of that retirement plan and this Agreement. 17.2.2 UPP Retirement Plan Adjustments for employees joining the bargaining unit after June 30, 2017. The existing plan provisions, with the following modifications, shall apply to all bargaining unit employees who become members of the bargaining unit after June 30, 2017 and who elect to participate in the plan: 1. Following the employee’s plan election pursuant to Section 17.1 of the Agreement, the Employer’s contribution to the employee’s UPP account shall be 5% of the employee’s total earnings per pay period prior to the completion of three (3) full years of employment, and shall be 6% of the employee’s total earnings per pay period following the completion of three (3) full years of employment. 2. The enrolled employee’s default contribution shall be at four percent (4%) up through 7 years of employment, five percent (5%) up through 10 years of employment, and six percent (6%) after 10 years of employment. The employee may opt out of all or a portion of this contribution or may contribute more than the default amount. Such election may be modified by the employee prior to any payroll period in accordance with the Employer’s processes. 3. The Employer shall, in addition to contributing toward the employee’s UPP account per Paragraph 1 above, partially match the employee’s voluntary contributions to a 403(b) retirement plan as follows: a. Following the completion of six (6) months of employment, 50% of up to the first 4% of total earnings contributed per pay period by the employee. b. Following the completion of three (3) full years of employment, 75% of up to the first 4% of total earnings contributed per pay period by the employee. c. Following the completion of five (5) full years of employment, 100% of up to the first 4% of total earnings contributed per pay period...
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UPP Contributions. 17.2.1 UPP Retirement Plan for employees employed in the bargaining unit as of June 30, 2017. For bargaining unit employees employed as of June 30, 2017, the Employer shall continue current contributions, including “pick up” of a six percent (6%) employee retirement plan contribution for eligible employees participating in the UPP. Such “pick-up” or payment of the employee contributions shall continue for the life of this Agreement. Bargaining unit employees who become members of the bargaining unit after June 30, 2017 and who elect to participate in the UPP pursuant to Section 17.1 above shall participate in the UPP in accordance with the terms of that retirement plan and this Agreement.
Sample 1

Related to UPP Contributions

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Company Contributions The Company shall continue to make a Company Contribution for Plan Years 2017, 2018 and 2019, on the same terms and conditions set forth in the Participant Agreement, with the performance metrics and targets in connection with such Company Contributions for such Plan Years to be established in the sole discretion of the Committee, following consultation with the Chief Executive Officer of the Company.

  • Initial Contributions The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.

  • Investment of Contributions At the direction of the Depositor (or the direction of the beneficiary upon the Depositor's death), the Custodian shall invest all contributions to the account and earnings thereon in investments acceptable to the Custodian, which may include marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), covered call options, certificates of deposit, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified by the Depositor in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a trust investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian may, but need not, establish programs under which cash deposits in excess of a minimum set by it will be periodically and automatically invested in interest-bearing investment funds. The Custodian shall have no duty other than to follow the written investment directions of the Depositor, and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Depositor.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • Campaign Contributions The CONTRACTOR is hereby notified of the applicability of 11-355, HRS, which states that campaign contributions are prohibited from specified state or county government contractors during the terms of their contracts if the contractors are paid with funds appropriated by a legislative body.

  • Contributions Without creating any rights in favor of any third party, the Member may, from time to time, make contributions of cash or property to the capital of the Company, but shall have no obligation to do so.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

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