District Matching Contribution Clause Samples

District Matching Contribution. The School District will match the contribution of an eligible teacher towards either the Minnesota State Deferred Compensation Program (Section 457) or an approved 403b tax sheltered annuity plan up to an annual amount of $2,000 (two thousand dollars). The School District match will be made on a dollar-for-dollar basis up to the maximum annual amount. Teachers may not recover School District matching contributions for years in which they chose not to participate or participated at a level below the maximum School District contribution level. The annual year for District contributions shall be July 1 through June 30. The District contribution will be pro-rated for part time teachers. The School District’s matching contribution shall be paid into the teacher’s account with the State of Minnesota’s Deferred Compensation Program (Section 457) or the teacher’s 403(b) tax sheltered annuity plan through a vendor from the District approved list.
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District Matching Contribution. The maximum annual District contribution shall be based on years of service with Mounds View School District according to the following schedule: At the beginning of the employee’s –Year of Service with the District District Matching Contribution 2022-2023 1st year 0 2+ years $250.00 Paraeducators in their first (1st) year of service may participate in the “plan” without a match. The District match will begin their second (2nd) year of service. Subd. 1. The annual year for District contributions shall be July 1 through June 30. Changes in District matching amounts, based on years of service completed as of June 30 will be made on July 1 of each year. Subd. 2. Paraeducators must establish participation in an eligible tax-sheltered annuity plan, as defined by Minnesota Statutes, before the District will begin matching contributions to the plan. To begin participation, the employee must submit a completed salary reduction form to the Payroll Office. Once established, participation will continue at the same rate until the Payroll Office is notified of any change. Subd. 3. The District match will be divided evenly over 19 or 24 paychecks up to the maximum annual amount. Employees may not recover District matching contributions for years in which they chose not to participate or participated at a level below the maximum District contribution.
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District Matching Contribution. The maximum annual District contribution shall be based on years of service with Mounds View School District according to the following schedule: At the beginning of the employee's--Year of Service with the District 2023-2024 2024-2025 Custodians in their first (1st) year of service may participate in the 'plan' without a match. The District match will begin in their second (2nd) year of service. Effective July 1, 2024, the maximum annual District matching contribution shall be $2500 per year and available upon hire. Subd 1. The annual year for District contributions shall be July 1 through June 30. Changes in District matching amounts, based on years of service completed as of June 30 will begin on July 1 of each year. Subd 2. Custodians must establish participation in a tax-sheltered annuity plan, as defined by Minnesota Statutes, before the District will begin matching contributions to that plan. To begin participation, the employee must submit a completed salary reduction form to the Payroll Office. In order to receive the maximum annual amount, the salary reduction form must be received by June 15. If the salary reduction form is received after June 15, the annual amount of the District matching contribution will be prorated based on the remaining number of months inthe fiscal year. Once established, participation will continue at the same rate until the Payroll Office is notified of any change. Subd 3. The District match will be divided evenly over 24 paychecks up to the maximum annual amount. Employees may not recover District matching contributions for years in which they chose not to participate or participated at a level below the maximum District contribution.
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District Matching Contribution. Principals who elect to participate in a tax deferred 403b plan shall be entitled to a matching School District contribution. The School District shall match any such Principal’s annual contribution to either of the plans up to four thousand five hundred dollars ($4,500). Effective July 1, 2024, the school district annual match will be five thousand dollars ($5,000) The parties agree that any description of benefits contained in this Article is intended to be informational only and the management of contributed funds is the responsibility of the company selected by the employee. It is further understood that the district’s only obligation is to make contributions as specified in this Article and that no other claim shall be made against the district pursuant to this Article.
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District Matching Contribution. The maximum annual District contribution shall be based on years of service with Mounds View School District according to the following schedule: At the beginning of the employee’s---Year of Service with the District District Matching Contribution 2019-2020 District Matching Contribution 2020-2021 Probationary $0.00 $0.00 Continuing Contract $3,300 $3,600 Teachers in their probationary period may participate in the ‘plan’ without a match. The District match will begin upon achieving continuing contract status (i.e. 2nd year or 4th year). For eligible part-time teachers, the District match will be prorated based on the teacher’s percent of contract as of September 1 of each school year. Subd 1. The annual year for District contributions shall be July 1 through June 30. Changes in District matching amounts, based on years of service completed as of June 30 will be made on July 1 of each year. Subd 2. Teachers must establish participation in a tax sheltered annuity plan, as defined by Minnesota Statutes, before the District will begin matching contributions to that plan. To begin participation, the employee must submit a completed salary reduction form to the Payroll Office. In order to receive the maximum annual amount, the salary reduction form must be received by June 15. If the salary reduction form is received after June 15, the annual amount of the District matching contribution will be prorated based on the remaining number of months in the fiscal year. Once established, participation will continue at the same rate until the Payroll Office is notified of any change. Subd 3. The District match will be made on a dollar for dollar basis up to the maximum annual amount. Employees may not recover District matching contributions for years in which they chose not to participate or participated at a level below the maximum District contribution.
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District Matching Contribution. The maximum annual District contribution shall be based on years of service with Mounds View School District according to the following schedule: At the beginning of the employee's--Year of Service with the District 2021-2022 2022-2023 1st year $0 $0 2+years $1600 $1900 Custodians in their first (1st) year of service may participate in the 'plan' without a match. The District match will begin in their second (2nd) year of service. Subd 1. The annual year for District contributions shall be July 1 through June 30. Changes in District matching amounts, based on years of service completed as of June 30 will be made on July 1 of each year. Subd 2. Custodians must establish participation in a tax-sheltered annuity plan, as defined by Minnesota Statutes, before the District will begin matching contributions to that plan. To begin participation, the employee must submit a completed salary reduction form to the Payroll Office. In order to receive the maximum annual amount, the salary reduction form must be received by June
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Related to District Matching Contribution

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • District Contribution Effective January 1, 2019:

  • Employer Contributions 16.01 Employer contributions shown in the tables in the attached appendices shall be made on all hours of work performed which are included in computing the eight (8) hours per day and forty (40) hours per week after which overtime is payable and shall be recorded on a standard remittance report provided by the Union and remitted on or before the fifteenth (15th) day of the month following the month for which contributions are due and payable, to the Trust Funds. Hours of work performed are interpreted to mean daily travel time, daily working time, reporting time, and, if the employee is required to perform a welding test, testing time. Contributions for overtime hours will be calculated as straight time hours. The Employer shall provide each employee covered by this Agreement with a statement with each weekly paycheque stating the total number of hours reported for contributions to the Pension and Health & Welfare Funds on behalf of that employee for the period covered by the paycheque. 16.02 All such funds due and payable to the above funds shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds are not wages or benefits due to an employee and industry promotion funds are deemed to be dues for services rendered by the Association. 16.03 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Fund, including provisions for an audit, security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds as liquidated damages, and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 16.04 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 16.05 The Employer shall not be required to make additional contributions or payments to any Industry Funds established by the Union or its Local Unions nor to any such funds established by Provincial or Territorial Government orders, regulations, or decrees for the purpose of providing similar benefits, it being understood and agreed that the contributions for herein, or any portions thereof shall be deemed to be in lieu of and/or shall be applied as payments to such funds. This provision shall not be applicable to any national funds or plans having general application and established by an Act of the Government of Canada. 16.06 In the Province of Ontario, the Trustees/Administrator of the employee benefit funds referred to in this Agreement shall promptly notify the Local Union of the failure by any Employer to pay any employee benefit contributions required to be made under this Agreement and which are owed under the said funds in order that the Program Administrator of the Ontario Employee Wage Protection Program may deem that there has been an assignment of compensation under the said Program in compliance with the Regulations to the Ontario Employment Standards Amendment Act, 1991, in relation to the Ontario Employee Wage Protection Program. 16.07 The parties hereto agree that contribution rates for the trust funds listed herein do not include any Provincial or Federal taxes.

  • The Contribution Prior to the Effective Time, and subject to the terms and conditions set forth in the Distribution Agreement, Grace intends to cause the transfer to a wholly owned subsidiary of Grace-Conn. ("Packco") of certain assets and liabilities of Grace and its subsidiaries predominantly related to the Packaging Business (the "Contribution"), as contemplated by the Distribution Agreement and the Other Agreements.