Recommended Plan Eligible Group: Employees hired after June 30, 2010 Contributions –Employer: $35 per bi-weekly pay period ($910/YR) –Employee: 1% of pre-tax pay ($400/YR for employee with salary of $40,000) Benefits Eligibility –Upon separation from service for employee contribution –Employer contribution based on vesting schedule: 25% after 5yrs, 50% after 10yrs, 75% after 15yrs, 100% after 20yrs( Matches defined benefit plan) Town of Chapel Hill | 405 Martin Luther King Jr.
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