Employee contribution

Employee contribution

An employee's own deposit to a company retirement plan.
References in periodicals archive ?
"The average employee contribution reached its highest level since late 2006, at 8.7%, and average rates among women hit a record of 8.5%."
Senate Bill 1068 could eventually require up to 4 percent of all public workers' "employee contribution" of 6 percent of salary to be redirected from their individual pension accounts to help buttress the underfunded pension system, if public agencies' pension costs climb too high.
Treasury and IRS said the guidance responds to public comments from 401(k) sponsors and service providers, and "simplifies and reduces the cost and burden of the correction process if a 401(k) or 403(b) plan using automatic enrollment or automatic increases fails to implement the correct amount of employee contribution."
Annual premium Single Coverage Public Sector Private Sector Union Nonunion Union Nonunion Employee contribution $810 $740 $740 $1,150 Employer cost $5,940 $4,920 $5,440 $4,080 Family Coverage Public Sector Private Sector Union Nonunion Union Nonunion Employee contribution $3,680 $5,630 $2,570 $5,110 Employer cost $13,030 $9,580 $12,540 $9,920 NOTE: Public sector excludes federal employees.
While the employee contribution up to 10 per cent of basic plus dearness allowance, or DA, is eligible for deduction under Section 80CCD within the ` 1 lakh limit, the employer's contribution up to 10 per cent of basic plus DA is eligible for deduction under Section 80CCE over and above the ` 1 lakh limit.
While the employee contribution up to 10% of basic plus dearness allowance, or DA, is eligible for deduction under Section 80CCD within the Rs 1 lakh limit, the employer's contribution up to 10% of basic plus DA is eligible for deduction under Section 80CCE over and above the Rs 1 lakh limit.
The trade union is demanding that Kumtor pay the mandatory employee contribution to the Kyrgyz Republic social fund in addition to the mandatory employer contribution paid by Kumtor.
INCREASING EMPLOYEE CONTRIBUTIONS. Sixteen legislatures increased employee contribution amounts this year, and nine did so last year.
(The employee contribution will be eligible for tax relief.) In the case of existing company pension schemes, it has been proposed to simplify the process by which companies can opt out of NEST.
Under the pact, the employee health care contribution rate remains at 13 percent, and the employee contribution to the pension system increases by 1 percent.
Employee contribution rates: Current employee contribution rates of two percent, four percent and eight percent remain, but the proposal to introduce six percent and 10 percent rates was scrapped.
From 1977 to 1998, the percentage of employees offered more than one plan, among those offered coverage from their employer, increased from 18 percent to 66 percent, and the average monthly employee contribution, measured in 1998 dollars, increased from $26 to $91 (Gabel, 1999).

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