Common use of District Matching Contribution Clause in Contracts

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.

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--employee’s---Year of Service with the District 2023District Matching Contribution 2020-2024 2024-2025 Custodians 2021 1st year $0 Nutrition Service employees 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 be made on July 1 of each year. Subd 2. Custodians Nutrition Service employees must establish participation in a tax-an eligible 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 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 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.

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--employee’s---Year of Service with the District 2023District Matching Contribution 1st year $0 2-2024 2024-2025 Custodians 3 years $100 4+ years $250 Nutrition Service employees 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 be made on July 1 of each year. Subd 2. Custodians Nutrition Service employees must establish participation in a an eligible 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 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 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.