Example of District Maximum Annual Contribution increases and decreases Clause Samples

Example of District Maximum Annual Contribution increases and decreases. Year 1: Benchmark Plan cost = $17,481 (District Maximum Annual Contribution) Year 2: Benchmark Plan cost = $18,481 (+$1,000) [In year 2, the District Maximum Annual Contribution would be increased by $500 to $17,981 and faculty member contributions for faculty members on the Benchmark Plan would be implemented at the rate of $500 per year for faculty members selecting the Benchmark Plan]. Year 3: Benchmark Plan cost = $17,981 (-$500) [In year 3, the District Maximum Annual Contribution would be decreased by $250 to $17,731 and faculty member contributions would be decreased by $250 to a total of $250 per year for faculty members selecting the Benchmark Plan] Year 4: Benchmark Plan cost = $16,981 (-$1,000) [In year 4, the District Maximum Annual Contribution would be decreased by $500 to $17,231. ($17,731 - $500 = $17,231). Since the District Maximum Annual Contribution exceeds the plan cost, no faculty member contributions would be required for faculty members selecting the Benchmark Plan]. Year 5: Benchmark Plan cost = $17,981 (+$1,000) [In year 5, the District Maximum Annual Contribution would increase by $500 to $17,731 and faculty member contributions would be $250 per year for faculty members selecting the Benchmark Plan].
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Related to Example of District Maximum Annual Contribution increases and decreases

  • Wage Increases The wage rates in this Agreement will only be increased in accordance with any increases which may be awarded by the Australian Fair Pay Commission through wage reviews. The level of any increases will be such that the percentage wage increase as set out in Clause 15 of this agreement will be maintained. No additional increases in wage rates will apply to the rate of pay in Clause 15 of this Agreement while it is in operation.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains the existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation. 2. If the employee chooses to vacate the position or does not meet the skills and abilities requirements of the position, the layoff procedure specified in Article 31 of this Agreement applies.

  • Price Increase/Decreases No price increases will be permitted during the first period of the Contract. The County requires documented proof of cost increases on Contracts prior to any price adjustment. A minimum of 30-days advance notice in writing is required to secure such adjustment. No retroactive price adjustments will be considered. All price decreases will automatically be extended to the County of Orange. The County may enforce, negotiate, or cancel escalating price Contracts or take any other action it deems appropriate, as it sees fit. The net dollar amount of profit will remain firm during the period of the Contract. Adjustments increasing the Contractor’s profit will not be allowed.

  • General Wage Increases The Employer and the Union agree that the new Collective Agreement shall reflect wage adjustments as follows: (a) Effective 2020 January 01, all hourly rates of pay that were in effect on 2019 December 31st shall be increased by two percent (2.00%). The new hourly rates shall be rounded to the nearest whole cent. (b) Effective 2021 January 01, all hourly rates of pay that were in effect on 2020 December 31st shall be increased by two percent (2.00%). The new hourly rates shall be rounded to the nearest whole cent. (c) Retroactive payments arising from (a) and (b) will be made as soon as possible following the date of ratification of this Memorandum of Agreement.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.