Examples of Savings Plan in a sentence
Payments into the Plan or Trust Fund shall be made monthly and shall be in the amount of 20% of the retiring faculty member's pre-retirement monthly salary without allowance, and shall continue until the full retirement allowance is paid or, in the case of a Registered Retirement Savings Plan, until the legislated allowable limit for deposit has been reached, whichever comes first.
The Board will process deductions for the Registered Retirement Savings Plan at no cost to the teachers.
All retiring employees of the Sheriff’s Unit who are eligible for sick leave payout in accordance with this Article, shall have 100% of their eligible payout directed to the Minnesota State Retirement System (MSRS) administered Post-Retirement Health Care Savings Plan (HCSP), and be subject to all terms and conditions of said plan.
All payment, delinquency, and collection provisions of this Article shall apply to Savings Plan contributions.
The retirement allowance determined in keeping with the above shall be paid into a pre-designated Registered Retirement Savings Plan (within legislated allowable levels) or Trust Fund in the name of the retired faculty member, to provide, at the discretion of the retired faculty member, a bridging pension income on or after age 55.