Common use of Retirement Programs Clause in Contracts

Retirement Programs. 515 1. Employees may participate in one (1) of the following retirement programs: 516 a. Michigan Public School Employees Retirement System (MPSERS). Participation is available to Employees who were enrolled in the Plan as of December 31, 1995. Employees hired after January 1, 1996 may only participate in the Plan if they have prior MPSERS service at one of the following Michigan Universities: Central Michigan University, Eastern Michigan University, ▇▇▇▇▇▇ State University, Lake Superior State University, Michigan Technological University, Northern Michigan University and Western Michigan University. 517 b. Teachers Insurance and Annuities Association-College Retirement Equities Fund (TIAA- CREF). 518 2. Each Employee must elect to participate in one (1) of these retirement programs within thirty (30) calendar days of the commencement of the Employee’s regular employment with the Employer. An Employee who does not make such an election within this time period shall automatically be enrolled in the TIAA-CREF Defined Contribution Plan. Once an Employee has been so enrolled such enrollment is final and cannot be changed.

Retirement Programs. 515 490 1. Employees may participate in one (1) of the following retirement programs: 516 491 a. Michigan Public School Employees Retirement System (MPSERS). Participation is available to Employees who were enrolled in the Plan as of December 31, 1995. Employees hired after January 1, 1996 may only participate in the Plan if they have prior MPSERS service at one of the following Michigan Universities: Central Michigan University, Eastern Michigan University, ▇▇▇▇▇▇ State University, Lake Superior State University, Michigan Technological University, Northern Michigan University and Western Michigan University. 517 . 492 b. Teachers Insurance and Annuities Association-College Retirement Equities Fund (TIAA- CREF). 518 493 2. Each Employee must elect to participate in one (1) of these retirement programs within thirty (30) calendar days of the commencement of the Employee’s regular employment with the Employer. An Employee who does not make such an election within this time period shall automatically be enrolled in the TIAA-CREF Defined Contribution Plan. Once an Employee has been so enrolled such enrollment is final and cannot be changed.