contributory plan

contributory plan,

n a method of payment for group insurance coverage in which part of the premium is paid by the employee and part is paid by the employer or union.
References in periodicals archive ?
Change in Life Status: If an employee experiences a change in life status, he or she will be given the opportunity to enroll himself / herself, as well as spouse/domestic partner, dependents, into any contributory plan.
50% of those not yet retired said they "save for retirement at work through a 401(k) or other contributory plan.
The legislature now returned to a contributory plan under which 3 percent of a member's pay would be deducted monthly and credited to an account with the FRS.
Therefore, the Amended Plan is not a contributory plan and, accordingly, there is no need to determine the portion of amounts received that is attributable to employer contributions (pursuant to regulations prescribed under Sec.
While this makes sense in respect of a contributory deferred compensation arrangement where amounts set aside for the benefit of an employee are also beyond reach of the employer's creditors, it does net follow that a contributory plan must be treated the same as a noncontributory plan.
And for employers with a contributory plan, sharing premiums on a 50-50 basis is a better way to start instead of the proposed 80-20.
The city made contributions of $790,000 in fiscal 2012 to its contributory plan which equaled 99% of its annual required contribution (ARC).
The city made contributions of $789,714 in fiscal 2011 to its contributory plan which equaled 97% of its annual required contribution (ARC).
Larger employers can customize a plan that best fits their needs, and have the option of either a voluntary or contributory plan.
For Voluntary and Contributory plans, participation requirements apply.
As shown in table 4, noncontributory plans were less likely to apply deductibles than contributory plans.
The Contributory Plans Criminal Project is the agency's first criminal national enforcement project targeting persons who commit fraud and abuse against participants and beneficiaries of contributory employee benefit plans, including 401(k)s, and contributory health plans.