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 ?
Hong Kong, Brazil, Singapore) or where the treaty does not provide tax deferred treatment of annual earnings for a contributory plan (e.
Conversely, the perception of trust of individuals affiliated to a contributory plan is not significantly different from those who hold a subsidized or pre-paid medical plan, failing to support hypothesis 1b.
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.
uA 50 percent of those not retired say they "save for retirement at work through a 401(k) or other contributory plan.
applies with equal force to persons exercising authority over a contributory plan, a noncontributory plan or any other type of 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.
5) IRS has ruled on an optional contributory plan of group life insurance which provided that if an employee opted not to participate on his own, any one of certain specified relatives of the employee could, with the employee's consent, apply and pay for the insurance on the employee's life and own all incidents of ownership.
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.
Employers can give their employees the opportunity to choose each year whether to pay short- and long-term disability premiums on a pre- or after-tax basis without causing the plan to be treated as a contributory plan under applicable Treasury regulations, according to Revenue Ruling 2004-55.
The city made contributions of $790,000 in fiscal 2012 to its contributory plan which equaled 99% of its annual required contribution (ARC).