Additional Voluntary Contributions Clause Samples
Additional Voluntary Contributions. Nothing in this Part B shall apply to AVCs or to benefits secured by them. However, the Authority shall use all reasonable endeavours to procure that the assets representing each Transferring Member's AVCs in the Local Government Pension Scheme shall be transferred to the Contractor's Scheme. The Contractor shall (and shall procure that each relevant Employing Subcontractor shall) ensure that the Contractor's Scheme provides benefits for each relevant Transferring Member which are equivalent to the assets transferred.
Additional Voluntary Contributions. Effective January 1, 2022, all members in the DB provisions of the Harmonized Pension Plan can participate in the Additional Voluntary Contributions (AVC) feature of the Harmonized Plan and have the option to contribute up to 3% of their base pay as AVCs into the Harmonized DB Pension Plan.
Additional Voluntary Contributions. 8.1 The AVC Fund shall be disregarded for all purposes of this Schedule except paragraphs 8.2 and 8.
8.2 The Vendor shall use reasonable endeavours to procure that the trustees of the 1991 Scheme will transfer the AVC Fund to the trustees of the Purchaser's Plan as soon as practicable after the Payment Date.
8.3 The Purchaser shall procure that the trustees of the Purchaser's Plan shall apply the AVC Fund, so as to provide appropriate money purchase benefits for, and in respect of, the appropriate Transferring Members.
Additional Voluntary Contributions. In addition to the funding otherwise called for by this Section E, either the Association, in its discretion, or the Clubs, in their discretion, may contribute additional amounts to IGF for use in the activities described in Section B above.
Additional Voluntary Contributions. Nothing in this Schedule shall apply to AVCs or to benefits secured by them (excluding added years benefits that are included in the calculation of the Transfer Amount). However, the Authority shall use reasonable endeavours to ensure that the assets representing each Transferring Member's AVCs held with an insurance company (if any) shall be transferred to the Contractor’s AVC Scheme. The Contractor shall (and shall procure that each relevant Sub-Contractor shall) ensure that the Contractor’s Scheme provides benefits for each relevant Transferring Member which are equivalent to the assets transferred.
Additional Voluntary Contributions. 6.1 For the purpose of the foregoing provisions of this Schedule there shall be disregarded—
(a) any benefits under the Pension Scheme which are attributable to additional voluntary contributions made to it by the members of the Pension Scheme and in respect of which the members are not entitled to benefits based on their final pensionable earnings (however defined);
(b) any such additional voluntary contributions; and
(c) any transfer in respect of any such benefits or additional voluntary contributions. The Vendor shall, nevertheless, use all reasonable endeavours to procure that the Pension Scheme transfers to the Purchaser's Scheme in respect of each of the Transferring Employees all such funds and assets of the Pension Scheme which represent any such contributions made by the Transferring Employees and the investment return on them. The Purchaser and the Vendor undertake to co-operate to procure that all such notices and announcements to Pensionable Employees in relation to the arrangements under this Schedule during the Interim Period and after the Membership Transfer Date or as may be required by law or which are necessary to satisfy any requirements of the Inland Revenue, the Inland Revenue National Insurance Contributions Office, the Isle of Man Assessor of Income Tax and the Isle of Man DHSS are given and that no notices or announcements in writing or otherwise to the Employees of any class thereof informing them of any arrangements under this Schedule or the implementation thereof and which make reference to the Pension Scheme, or to any benefits thereunder or transfers therefrom are given unless they are approved by the Vendor (such approval not to be unreasonably withheld or delayed) and that any necessary submissions to the Inland Revenue and to the Isle of Man Assessor of Income Tax and the Isle of Man DHSS and all documents that are necessary in this connection are executed.
Additional Voluntary Contributions. Your voluntary contributions will be deposited into the Pension Fund and will accumulate interest at a rate approximating that earned by the Pension Fund until you retire. At retirement, your voluntary contributions plus interest may be used to purchase an additional pension. Early retirement is permitted, any time after you have reached age 55. If you retire early, your annual pension will be calculated the same way as your normal retirement pension based on your contributions to the date of early retirement. Your pension is then reduced by ½ of 1% for each month that your early retirement date precedes your normal retirement date. The pension is reduced because payments are expected to be made over a longer period of time, than if you had retired at age 65. Effective July 1, 2004, if you are over 60 with 30 or more years of service, your pension will be unreduced. Postponed retirement is permitted, with Company consent, up to your 69th birthday. Your contributions will continue. At actual retirement, you will receive a greater pension than the benefit you would have received at normal retirement.
Additional Voluntary Contributions. PARTICIPATION OF EMPLOYERS, TRANSFERS AND WINDING-UP..
Additional Voluntary Contributions. Employees meeting the above criteria have the option to contribute an additional 1%, 2%, or 3% of their annual salary which can be directed to the pre- tax or ▇▇▇▇ options. This contribution is matched at 50% by the museum. Retirement Choice Plus Plan (RCP) – 407131 Section 4 - Voluntary Contributions- All employees are eligible to participate in the voluntary 403(b) RCP Plan immediately upon hire. This plan is not eligible for the employer match, but contributions can be directed to pre-tax or ▇▇▇▇ options. How to enroll in the 403(b) Complete this enrollment form and forward to the Human Resources Department. You will also need to create an account on the secure TIAA website at ▇▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇/philamuseum. 403(b) Investment Selection To view a complete list of investment options and fund performance, visit: ▇▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇/philamuseum Option A: Contributions automatically directed to an age-appropriate Lifecycle fund.
Option B: Build your own portfolio. You can research, view performance, add or delete funds, and check your account status at any time. You may also call TIAA at ▇▇▇-▇▇▇-▇▇▇▇ or contact HR to make an appointment with a financial advisor from Exude for assistance or questions. How much may I contribute in a calendar year? In 2023, you can defer up to $22,500. If you are 50 or older, you can defer an additional $7,500 for a total of $30,000. The mandatory portion of your contributions is not included in the IRS limits but will appear in Box 12 of your W-2. Since the Defined Contribution plan is a ▇▇▇▇▇ (Technical and Miscellaneous Revenue Act of 1988) plan, the mandatory contributions do not count toward the IRS limits. What types of distributions are available? Loans- Call TIAA or login to your account to determine if you are eligible to apply for a loan.
Additional Voluntary Contributions. Nothing in this Part 4 of Part D of this Schedule shall apply to AVCs or to benefits secured by them. However, the Customer shall use reasonable endeavours to ensure that the assets representing each Transferring LGPS Member's AVCs in the Fund (if any) shall be transferred to the Broadly Comparable Scheme. JVCo shall (and shall procure that each relevant Sub-Contractor shall) ensure that the Broadly Comparable Scheme provides benefits for each relevant Transferring LGPS Member which are equivalent to the value of the assets transferred. JVCo undertakes to the Customer (for the benefit of the Customer itself and for the Customer as agent and trustee for the benefit of the LGPS Eligible Employees that on: the expiry or termination of this Agreement; or the expiry or termination of any sub-contract in the case of a relevant Sub-Contractor; or the employment of any LGPS Eligible Employee transferring to a New Employer in accordance with paragraph 1.8 of Part 3 of Part D of this Schedule of this Agreement (or otherwise), the JVCo shall (and shall procure that each relevant Sub-Contractor shall) procure that the trustees of the Broadly Comparable Scheme offer bulk transfer terms in respect of the relevant LGPS Eligible Employees’ benefits in the Broadly Comparable Scheme to the pension scheme of the Customer, any Future Service Provider (or their sub‑contractors), any new Sub-Contractor or any New Employer (as applicable) which: are no less favourable (in the opinion of the Fund or an actuary appointed by the Customer) than the bulk transfer terms set out in the Fund Actuary's Letter; and comply with the requirements of the Government Actuary’s Department certificate and undertakings relating to the Broadly Comparable Scheme should these require more generous bulk transfer terms. .