Yearly Lump Sum contribution Sample Clauses

Yearly Lump Sum contribution a. For the period of time commencing with the 61st active regular continuous service month and through the 120th active regular continuous service month the Employer will contribute to the 403(b) Base Retirement Program, an amount equal to one-half percent (½%) of the bargaining unit’s average wage (aggregate pay including overtime compensation divided by total FTEs), calculated as of June 30th prior to the contribution, for each year of regular service. The lump sum contributions shall be made the month following completion of each year up to a maximum of five
Sample 1
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Yearly Lump Sum contribution. A. FOR THE PERIOD OF TIME COMMENCING WITH THE 61ST ACTIVE REGULAR CONTINUOUS SERVICE MONTH AND THROUGH THE 120TH ACTIVE REGULAR CONTINUOUS SERVICE MONTH THE EMPLOYER WILL CONTRIBUTE TO THE 403(B) BASE RETIREMENT PROGRAM, AN AMOUNT EQUAL TO ONE-HALF (1/2) PERCENT OF THE EMPLOYEE’S WAGE, CALCULATED AS OF JUNE 30TH PRIOR TO THE CONTRIBUTION, FOR EACH YEAR OF REGULAR SERVICE. THE LUMP SUM CONTRIBUTIONS SHALL BE MADE THE MONTH FOLLOWING COMPLETION OF EACH YEAR UP TO A MAXIMUM OF 5 YEARLY CONTRIBUTIONS.
Sample 1

Related to Yearly Lump Sum contribution

  • Lump Sum Compensation Lump sum computation refers to the method of payment under this Agreement for the professional services of the Consultant.

  • 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.

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Annual Contributions □ Check enclosed in the amount of $ representing current contribution for tax year 20 . This contribution does not exceed the maximum permitted amount for the year of contribution as described in the Xxxx XXX Disclosure Statement. If no tax year is indicated, contribution will automatically apply to current year.

  • Premium Contributions i. Effective March 1, 2014, the Company and employees will contribute toward the premium costs of the NECA Health Plan for eligible Regular employees in accordance with this Section.

  • Company Contributions (a) For employees hired, rehired or who become covered under the CWA 3176 Agreement through any means before January 1, 2016, the Company shall contribute a Company Matching Contribution equal to 25 percent of the Participant’s Contribution up to a maximum of 6 percent of eligible wage.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • Lump Sum Payment Upon award of the contract for this improvement, the LA will pay to the STATE, in lump sum, an amount equal to 80% of the LA’s estimated obligation incurred under this Agreement, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs. Method B - Monthly Payments. Upon award of the contract for this improvement, the LA will pay to the STATE, a specified amount each month for an estimated period of months, or until 80% of the LA’s estimated obligation under the provisions of the Agreement has been paid, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs.

  • 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.

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