Common use of Matching Program Clause in Contracts

Matching Program. Beginning September 1, 1999, each full-time teacher in the District will be entitled to a matching contribution from the District of 1% of their basic teacher salary per year to the Minnesota Deferred Compensation Plan or an I.R.S. 403(b) T.S.A. (according to Minnesota Statutes, Section 352.96 and 356.24 subd. 1 (5). Beginning September 1, 2003, eligibility for the matching program shall require a minimum of .5 FTE to be considered a full-time teacher for this purpose only. Board contributions will cease after thirty (30) years of contribution. As of September 1, 2004, the matching contribution by the district will be 2%. As of September 1, 2005, the matching contribution by the district for teachers with more than 10 years of service will be 2 1/2%. As of September 1, 2008, the matching contribution for all eligible teachers upon hire will be 3%.

Matching Program. Beginning September 1, 1999, each full-time teacher in the District will be entitled to a matching contribution from the District of 1% of their basic teacher salary per year to the Minnesota Deferred Compensation Plan or an I.R.S. 403(b) T.S.A. (according to Minnesota Statutes, Section 352.96 and 356.24 subd. 1 (5). Beginning September 1, 2003, eligibility for the matching program shall require a minimum of .5 FTE to be considered a full-time teacher for this purpose only. Board contributions will cease after thirty (30) years continue for the duration of contributiona teacher’s career with the District. As of September 1, 2004, the matching contribution by the district will be 2%. As of September 1, 2005, the matching contribution by the district for teachers with more than 10 years of service will be 2 1/2%. As of September 1, 2008, the The matching contribution for all eligible teachers upon hire will be 3%.

Matching Program. Beginning September 1, 1999, each full-time teacher in the District will be entitled to a matching contribution from the District of 1% of their basic teacher salary per year to the Minnesota Deferred Compensation Plan or an I.R.S. 403(b) T.S.A. (according to Minnesota Statutes, Section 352.96 and 356.24 subd. 1 (5). Beginning September 1, 2003, eligibility for the matching program shall require a minimum of .5 FTE to be considered a full-time teacher for this purpose only. Board contributions will cease after thirty (30) years of contribution. As of September 1, 2004, the matching contribution by the district will be 2%. As of September 1, 2005, the matching contribution by the district for teachers with more than 10 years of service will be 2 1/2%. As of September 1, 2008, 2008 the matching contribution for all eligible teachers upon hire will be 3%.