No existing Salary Reduction Agreement Sample Clauses

The "No existing Salary Reduction Agreement" clause establishes that, at the time of entering into the current agreement, the employee does not have any other active salary reduction agreements in place with the employer. In practice, this means the employee affirms they are not already participating in another arrangement that reduces their salary for benefits or other purposes, such as contributions to a retirement plan. This clause helps prevent overlapping or conflicting salary reduction agreements, ensuring compliance with plan limits and simplifying payroll administration.