Common use of Deferred Compensation Plan Clause in Contracts

Deferred Compensation Plan. 1. It is understood that the State shall continue the program which will permit eligible employees in this negotiating unit to voluntarily authorize deferment of a portion of their earned base salary so that the funds deferred can be placed in an Internal Revenue Service approved Federal Income Tax exempt investment plan. 2. The deferred income so invested and the interest or other income return on the investment are intended to be exempt from current Federal Income Taxation until the individual employee withdraws or otherwise receives such funds as provided in the plan. 3. It is understood that the State shall be solely responsible for the administration of the plan and the determination of policies, conditions and regulations governing its implementation and use. 4. The State shall provide literature describing the plan as well as a required enrollment or other forms to all employees when the plan has been established. 5. It is further understood that the maximum amount of deferrable income under this plan shall be consistent with the Plan Document.

Deferred Compensation Plan. 1. It is understood that the State shall continue the program which will permit eligible employees in this negotiating unit to voluntarily authorize deferment of a portion of their earned base salary so that the funds deferred can be placed in an Internal Revenue Service approved Federal Income Tax exempt investment plan. 2. The deferred income so invested and the interest or other income return on the investment are intended to be exempt from current Federal Income Taxation until the individual employee withdraws or otherwise receives such funds as provided in the plan. 3plan document. It is understood that the State shall be solely responsible for the administration of the plan and the determination of policies, conditions and regulations governing its implementation and use. 4. The State shall provide literature describing the plan as well as a required enrollment or other forms to all employees when the plan has been established. 5. It is further understood that the maximum amount of deferrable income under this plan shall be consistent with the Plan Documentamount allowable by law.

Deferred Compensation Plan. 1. It is understood that the State shall continue the program which will permit eligible employees in this negotiating unit to voluntarily authorize deferment of a portion of their earned base salary so that the funds deferred can be placed in an Internal Revenue Service approved Federal Income Tax exempt investment plan. 2. The deferred income so invested and the interest or other income return on the investment are intended to be exempt from current Federal Income Taxation until the individual employee withdraws or otherwise receives such funds as provided in the plan. 3. It is understood that the State shall be solely responsible for the administration of the plan and the determination of policies, conditions and regulations governing its implementation and use. 4. The State shall provide literature describing the plan as well as a required enrollment or other forms to all employees when the plan has been established. 5employees. It is further understood that the maximum amount of deferrable income under this plan shall be consistent with the Plan Documentamount allowable by law.

Deferred Compensation Plan. 1. It is understood that the State shall continue the program which will permit eligible employees in this negotiating unit to voluntarily authorize deferment of a portion of their earned base salary so that the funds deferred can be placed in an Internal Revenue Service approved Federal Income Tax exempt investment plan. 2. The deferred income so invested invested, and the interest or other income return on the investment are intended to be exempt from current Federal Income Taxation until the individual employee withdraws or otherwise receives such funds as provided in the plan. 3plan document. It is understood that the State shall be solely responsible for the administration of the plan and the determination of policies, conditions and regulations governing its implementation and use. 4. The State shall provide literature describing the plan as well as a required enrollment or other forms to all employees when the plan has been established. 5. It is further understood that the maximum amount of deferrable income under this plan shall be consistent with the Plan Documentamount allowable by law.

Deferred Compensation Plan. 1. It is understood that the State shall continue the program which will permit eligible employees in this negotiating unit to voluntarily authorize deferment of a portion of their earned base salary so that the funds deferred can be placed in an Internal Revenue Service approved Federal Income Tax exempt investment plan. 2. The deferred income so invested and the interest or other income return on the investment are intended to be exempt from current Federal Income Taxation until the individual employee withdraws or otherwise receives such funds as provided in the plan. 3. It is understood that the State shall be solely responsible for the administration of the plan and the determination of policies, conditions and regulations governing its implementation and use. 4. The State shall provide literature describing the plan as well as a required enrollment or other forms to all employees when the plan has been established. 5employees. It is further understood that the maximum amount of deferrable income under this plan shall be consistent with the Plan Documentdocument.