Savings Program Sample Clauses
A Savings Program clause establishes the terms under which participants can accumulate savings, often through regular contributions or specific qualifying activities. Typically, it outlines eligibility requirements, contribution methods, and how savings are tracked or accessed, such as through payroll deductions or matched contributions by an employer. The core function of this clause is to provide a structured and transparent framework for participants to build financial reserves, promoting disciplined saving and financial security.
Savings Program. Effective June 1, 1997 Eligibility: The Optional Pension Plan (OPP) and Employee Savings Plan (ESP) are part of the Savings Program. To be eligible for the Optional Pension Plan, you must be a participant of the Retirement Plan. The Employee Savings Plan is open to all employees following their probation period. Effective June 1, 2003, you may contribute up to a maximum of six (6%) percent of your wages, including overtime. Post Foods Canada will make contributions equal to forty (40%) percent of your contributions. In other words, for each dollar that you will contribute to the program, Post Foods Canada will contribute forty ($0.40) cents. In addition, you may make contributions in excess of 6% to the ESP. The limit on the ESP contribution level is 10%. You cannot contribute more than 16% of your pay to the OPP and ESP combined. The Company matching contribution will be eliminated effective April 1, 2009. Detailed information on the Program is contained in the Employee Booklet.
Savings Program. The Round It Up Savings Program is a FREE service to Farmers Insurance Federal Credit Union members:
Savings Program. MSTS shall continue to allow Employee participation in the Represented Employees 401(k) Savings Program.
Savings Program. 1. The Board will afford to any bargaining unit member who so requests, the opportunity to participate in a Tax Sheltered Annuity Program.
2. The Board will afford to any bargaining unit member who so requests, the opportunity to buy United States Savings Bonds on a regular payroll deduction basis.
Savings Program. Effective June 1, 1997 Eligibility: Group Retirement Savings Plan (Group RSP) and Employee Savings Plan (ESP) are part of the Savings Program. To be eligible for the Group Retirement Savings Plan, you must be a participant of the Retirement Plan. The Employee Savings Plan is open to all employees following their probation period. Effective January 8, 2001, you may contribute up to a maximum of six (6%) percent of your wages, including overtime. Kraft Canada Inc. will make contributions equal to thirty-five (35%) percent of your contributions. In other words, for each dollar that you will contribute to the program, Kraft Canada Inc. will contribute thirty-five ($0.35) cents. Effective June 1, 2003, you may contribute up to a maximum of six (6%) percent of your wages, including overtime. Kraft Canada Inc. will make contributions equal to forty (40%) percent of your contributions. In other words, for each dollar that you will contribute to the program, Kraft Canada will contribute forty ($0.40) cents. Detailed information on the Program is contained in the SAVINGS PROGRAM brochure, available at the Human Resources Department.
Savings Program. MSTS shall continue to allow Employee participation in the Represented Employees 401(k) Savings Program. International Association of Bridge, Structural, Ornamental and Reinforcing Ironworkers
Savings Program. As of the Closing Date, the Savings Program of Seller shall not accept contributions from Employees. Buyer shall grant to each Continuing Employee covered by the Savings Plan immediately before the Closing credit for his or her period of employment with Aptus and Seller prior to the Closing Date for the purpose of eligibility and vesting under Buyer's defined contribution plan (the "Buyer's Savings Plan"), but not for the purpose of benefit accrual. The Buyer's Savings Plan will accept "rollovers" of account balances of Continuing Employees from the Savings Program with respect to before tax contributions only, in accordance with the terms and administrative policies of the Seller's Plan. Outstanding loans under the Savings Program will not be transferable to the Buyer's Savings Plan.
Savings Program. The Program includes the Direct Plan and the Advisor-Guided Plan. The Direct Plan is described in a separate disclosure booklet.
Savings Program. Effective June 1, 1997 Eligibility: Group Retirement Savings Plan (Group RSP) and Employee Savings Plan (ESP) are part of the Savings Program. To be eligible for the Group Retirement Savings Plan, you must be a participant of the Retirement Plan. The Employee Savings Plan is open to all employees following their probation period. You may contribute up to a maximum of five (5%) percent of your wages, including overtime. Kraft Canada Inc. will make contributions equal to twenty-five (25%) percent of your contributions. In other words, for each dollar that you will contribute to the program, Kraft Canada Inc. will contribute twenty-five ($0.25) cents. Detailed information on the Program is contained in the SAVINGS PROGRAM brochure, available at the Human Resources Department. between Kraft Canada Inc.
Savings Program. On the Closing Date, CRSI Employees eligible to participate in the COMSAT Corporation Savings & Profit Sharing Plan (the "Seller's Savings Plan") shall commence participating in a defined contribution plan or plans sponsored by Buyer. Buyer shall cause such plans to be amended to waive any waiting period for eligibility to participate in such plans. To the extent permitted by Seller's Savings Plan and Section 401(k)(10) of the Code, each CRSI Employee shall be permitted during the period between the Closing and the end of the second calendar year following the Closing Date, to receive a distribution from Seller's Savings Plan, make a direct rollover in accordance with Section 401(a)(31) of the Code, or leave his or her account balances in Seller's Savings Plan. Seller shall take such action as may be necessary, if any, to permit each CRSI Employee to make a direct rollover from Seller's Savings Plan in accordance with Section 401(a)(31) of the Code. The assets transferred in the direct rollover shall be in the form of cash. On or prior to the Closing, Seller shall take all actions necessary to fully vest the CRSI Employees, who are currently partially vested, in Seller's Savings Plan.