Deferred Compensation Incentive Clause Samples

Deferred Compensation Incentive. The City shall provide a contribution to an employee's deferred compensation account in an amount equal to the employee's contribution, to a maximum of forty- five dollars ($45) per biweekly pay period for full time employees and thirty dollars ($30) for part-time employees in accordance with section

Deferred Compensation Incentive. A. The County will contribute eighty-five dollars ($85) per month to each employee who participates in the County’s Deferred Compensation Plan. To be eligible for this Deferred Compensation Incentive, the employee must contribute to the deferred compensation plan as indicated below. Employees with Current Monthly Salary of: Qualifying Base Contribution Amount Monthly Contribution Required to Maintain Incentive Program Eligibility Employees who discontinue contributions or who contribute less than the required amount per month for a period of one (1) month or more will no longer be eligible for the eighty-five dollar ($85) Deferred Compensation Incentive. To reestablish eligibility, employees must again make a Base Contribution Amount as set forth above based on current monthly salary. Employees with a break in deferred compensation contributions either because of an approved medical leave or an approved financial hardship withdrawal will not be required to reestablish eligibility. Further, employees who lose eligibility due to displacement by layoff, but maintain contributions at the required level and are later employed in an eligible position, will not be required to reestablish eligibility.

Deferred Compensation Incentive. The County's supplemental contribution to employees who participate in the County's Deferred Compensation Plan will be forty dollars ($40) per month. To be eligible for this incentive supplement, employees must first contribute a Base Contribution Amount to the deferred compensation plan as follows: Current Monthly Qualifying Base Monthly Base Contribution Amt. for Maintaining Salary Contribution Amt. Program Eligibility 2,500 & below 250 50 2501 - 3334 500 50 3335 - 4167 750 50 4168 - 5000 1000 50 5001 - 5834 1500 100 5835 - 6667 2000 100 6668 & above 2500 100 Employees with a break in deferred compensation contributions because of either an approved medical leave or approved financial hardship withdrawal shall not be required to reestablish eligibility. Further, employees who lose eligibility due to budgetary constraints but maintain contributions at the required level and later return to an eligible position shall not be required to reestablish eligibility.

Deferred Compensation Incentive. A. The County will contribute eighty-five dollars ($85) per month to each employee who participates in the County’s Deferred Compensation Plan. To be eligible for this Deferred Compensation Incentive, the employee must contribute to the deferred compensation plan as indicated below. Employees with Current Monthly Salary of: Qualifying Base Contribution Amount Monthly Contribution Required to Maintain Incentive Program Eligibility Employees who discontinue contributions or who contribute less than the required amount per month for a period of one (1) month or more will no longer be eligible for the eighty-five dollar ($85) Deferred Compensation Incentive. To reestablish eligibility, employees must again make a Base Contribution Amount as set forth above based on current monthly salary. Employees with a break in deferred compensation contributions either because of an approved medical leave or an approved financial hardship withdrawal will not be required to reestablish eligibility. Further, employees who lose eligibility due to displacement by layoff, but maintain contributions at the required level and are later employed in an eligible position, will not be required to reestablish eligibility. B. Special Benefit for Permanent Employees Hired on and after January 1, 2011: 1. Beginning on April 1, 2011 and for the term of this Agreement, the County will contribute one hundred and fifty dollars ($150) per month to an employee’s account in the Contra Costa County Deferred Compensation Plan, or other tax-qualified savings program designated by the County, for employees who meet all of the following conditions: a. The employee must be hired by Contra Costa County on or after January 1, 2011. b. The employee must be appointed to a permanent position. The position may be either full time or part time, but if it is part time, it must be designated, at a minimum, as 20 hours per week. c. The employee must have been employed by Contra Costa County for at least 90 calendar days. d. The employee must contribute a minimum of twenty-five dollars ($25) per month to the Contra Costa County Deferred Compensation Plan, or other tax-qualified savings program designated by the County. e. The employee must complete and sign the required enrollment form(s) for his/her deferred compensation account and submit those forms to the Human Resources Department,

Deferred Compensation Incentive. During the term of this MOU the District will maintain an IRS 457 Plan for interested employees. Employees may also elect to contribute to a ▇▇▇▇ 457 option. Beginning on the first pay date of the first full pay period of calendar year 2018 through 2021, the District will contribute on behalf of each employee an amount equal to one-hundred percent (100%) of the first $2,500 that the employee voluntarily contributes to the Employee’s 457 Plan account. Said payment will be made on the same payday as the employee elects to make voluntary contributions to the Plan. This incentive shall be administered in accordance with state and federal regulations, which may impose limits on such benefits for New Members within the CalPERS Retirement System. On the last pay date of the calendar year 2021, the District will no longer contribute on behalf of the employee to the Employee’s 457 Plan account.

Deferred Compensation Incentive. Effective January 1, 2007, the County’s contribution to eligible employees who participate in the County’s Deferred Compensation Plan will be seventy-five dollars ($75.00) per month. To be eligible for this incentive supplement, eligible employees must first contribute a Base Contribution Amount to the Deferred Compensation Plan as follows: Current Monthly Salary Qualifying Base Contribution Amt. Monthly Base Contribution Amt. for Maintaining Program Eligibility Employees who meet these Base Contribution Amounts must contribute at least fifty dollars ($50) or one hundred dollars ($100) per month to remain eligible for the seventy-five dollars ($75.00) County supplement. Employees who discontinue contributions or who contribute less than the required amount per month for a period of one (1) month or more will no longer be eligible for the seventy-five ($75.00) County supplement. To reestablish eligibility, employees must again make a Base Contribution Amount as set forth above based on current monthly salary. Employees with a break in Deferred Compensation Contributions because of an approved medical leave, shall not be required to reestablish eligibility. Employees with a break in deferred compensation contributions because of either an approved medical leave or approved financial hardship withdrawal shall not be required to re-establish eligibility. Further, employees who lose eligibility due to

Deferred Compensation Incentive. A. The County will contribute eighty-five dollars ($85) per month to each employee who participates in the County’s Deferred Compensation Plan. To be eligible for this Deferred Compensation Incentive, the employee must contribute to the deferred compensation plan as indicated below. $2,500 and below $250 $50 $2,501 – 3,334 $500 $50 $3,335 – 4,167 $750 $50 $4,168 – 5,000 $1,000 $50 $5,001 – 5,834 $1,500 $100 $5,835 – 6,667 $2,000 $100 $6,668 and above $2,500 $100 Employees who discontinue contributions or who contribute less than the required amount per month for a period of one (1) month or more will no longer be eligible for the eighty-five dollar ($85) Deferred Compensation Incentive. To reestablish eligibility, employees must again make a Base Contribution Amount as set forth above based on current monthly salary. Employees with a break in deferred compensation contributions either because of an approved medical leave or an approved financial hardship withdrawal will not be required to reestablish eligibility. Further, employees who lose eligibility due to displacement by layoff, but maintain contributions at the required level and are later employed in an eligible position, will not be required to reestablish eligibility. B. Special Benefit for Permanent Employees Hired on and after January 1, 2011: 1. Beginning on April 1, 2011 and for the term of this resolution, the County will contribute one hundred and fifty dollars ($150) per month to an employee’s account in the Contra Costa County Deferred Compensation Plan, or other tax- qualified savings program designated by the County, for employees who meet all of the following conditions: a. The employee must be hired by Contra Costa County on or after January 1, 2011. b. The employee must be appointed to a permanent position. The position may be either full time or part time, but if it is part time, it must be designated, at a minimum, as 20 hours per week. c. The employee must have been employed by Contra Costa County for at least 90 calendar days. d. The employee must contribute a minimum of twenty-five dollars ($25) per month to the Contra Costa County Deferred Compensation Plan, or other tax-qualified savings program designated by the County. e. The employee must complete and sign the required enrollment form(s) for his/her deferred compensation account and submit those forms to the Human Resources Department,

Deferred Compensation Incentive. During the term of this MOU the District will maintain an IRS 457 Plan for interested employees. Employees may also elect to contribute to a ▇▇▇▇ 457 option. Beginning on the first pay date of the first full pay period of calendar years 2018, 2019, 2020 and 2021, the District will contribute on behalf of each employee an amount equal to 100% of the first $2,500 the employee voluntarily contributes to the 457 Plan. On the last pay date of the calendar year 2021, the District will no longer contribute on behalf of the employee to the Employee’s 457 Plan account. This incentive shall be administered in accordance with state and federal regulations, which may impose limits on such benefits for New Members within the CalPERS Retirement System.

Deferred Compensation Incentive because of an approved medical leave or an approved financial hardship withdrawal will not be required to reestablish eligibility. Further, employees who lose eligibility due to displacement by layoff, but maintain contributions at the required level and are later employed in an eligible position, will not be required to reestablish eligibility.