DEFERRED ANNUITY. The Board agrees that during the term of this Contract, and in addition to any other compensation provided for in this Contract, the Board shall pay for a $3,000 annuity each year on behalf of the Assistant Superintendent. In addition, the Board agrees to pay the TRS “member contribution” applicable to such additional annuity directly to TRS on behalf of the Assistant Superintendent. Such contributions are subject to all requirements and limits contained in the Internal Revenue Code. The Assistant Superintendent does not have a right to receive these contributions in cash.
Appears in 8 contracts
Sources: Performance Based Administrator Contract, Performance Based Administrator Contract, Performance Based Administrator Contract
DEFERRED ANNUITY. The Board agrees that during the term of this Contract, and in addition to any other compensation provided for in this Contract, the Board shall pay for a $3,000 annuity each year on behalf of the Assistant Associate Superintendent. In addition, the Board agrees to pay the TRS “member contribution” applicable to such additional annuity directly to TRS on behalf of the Assistant Associate Superintendent. Such contributions are subject to all requirements and limits contained in the Internal Revenue Code. The Assistant Associate Superintendent does not have a right to receive these contributions in cash.
Appears in 3 contracts
Sources: Performance Based Administrator Contract, Performance Based Administrator Contract, Performance Based Administrator Contract
DEFERRED ANNUITY. The Board agrees that during the term of this Contract, and in addition to any other compensation provided for in this Contract, the Board shall pay for a $3,000 annuity each year on behalf of the Assistant Superintendent. In addition, the Board agrees to pay the TRS “‘member contribution” ’ applicable to such additional annuity directly to TRS on behalf of the Assistant Superintendent. Such contributions are subject to all requirements and limits contained in the Internal Revenue Code. The Assistant Superintendent does not have a right to receive these contributions in cash.
Appears in 2 contracts
Sources: Performance Based Administrator Contract, Performance Based Administrator Contract