Common use of Years of Service Credit Clause in Contracts

Years of Service Credit. Employees who are hired after August 26, 2002, will accrue ten percent (10%) credit for each twelve (12) months the employee is in active payroll status in a position that is covered by the State Patrol Retirement Fund (M.S. §352B) and in which the employee and Employer made the statutorily required contributions to the State Patrol Retirement Fund (M.S. §352B). If an employee has six (6) or more months of active payroll status during a calendar year, then the employee shall be credited with the full ten percent (10%) for that calendar year. If the employee has less than six (6) months of active payroll status during a calendar year, then the employee shall receive zero (0) credit for that calendar year. Total credit for all years of service will not exceed one hundred percent (100%).

Years of Service Credit. Employees who are hired after August 26, 2002, will accrue ten percent (10%) credit for each twelve (12) months the employee is in active payroll status in a position that is covered by the State Patrol Retirement Fund (M.S. §352B) and in which the employee and Employer made the statutorily required contributions to the State Patrol Retirement Fund (M.S. §352B)Fund. If an employee has more than six (6) or more months of active payroll status during a calendar year, then the employee shall be credited with the full ten percent (10%) for that calendar year. If the employee has less than six (6) months of active payroll status during a calendar year, then the employee shall receive zero (0) credit for that calendar year. Total credit for all years of service will not exceed one hundred percent (100%).

Years of Service Credit. Employees who are hired after August 26, 2002, will accrue ten percent (10%) credit for each twelve (12) months the employee is in active payroll status in a position that is covered by the State Patrol Retirement Fund (M.S. §Minn. Stat. § 352B) and in which the employee and Employer made the statutorily required contributions to the State Patrol Retirement Fund (M.S. §Minn. Stat. § 352B). If an employee has six (6) or more months of active payroll status during a calendar year, then the employee shall be credited with the full ten percent (10%) for that calendar year. If the employee has less than six (6) months of active payroll status during a calendar year, then the employee shall receive zero (0) credit for that calendar year. Total credit for all years of service will not exceed one hundred percent (100%).