Voluntary Contribution Agreement

Christopher Eisgruber, President of Princeton University, said: “During the COVID pandemic, the city and the university worked together creatively and cooperatively to meet many challenges. The extension of the voluntary contribution agreement and the financial support it provides for municipal actions are another expression of the university`s continued support for the community. Because of the strong and mutually beneficial relationship between Princeton Municipality and Princeton University, the city and the university have decided to extend the voluntary contribution agreement for two years, which defines the university`s funding to support municipal actions. The extension is underway until 2022. The amount of voluntary contributions of workers, determined in point a), is paid to the most affected workers, as well as a proportionate share of investment income for the year in which these excess aggregate contributions were paid and from the end of the plan year to the distribution date. In addition to these voluntary contributions, the university is the largest taxpayer in the municipality of Princeton. In 2019, the university paid $11.6 million in property and sanitation taxes to the municipality of Princeton. At least $6 million of the annual taxes paid by Princeton University are paid voluntarily for tax-exempt real estate under New Jersey law. The expanded agreement includes unlimited contributions from the university, amounting to $3,619,200 in 2021 and $3,764.00 in 2022.

Voluntary planning agreements are one method of allowing developers to help finance the public infrastructure needed to support development and population growth. The inclusion of Voluntary Planning Agreements (VPAs) in the Environmental Planning and Assessment Act of 1979 (Section 93F) was part of a 2005 developer contribution system reform. This form can be used to provide voluntary contributions to the DoD Siting Clearing House as part of agreements between the Ministry of Defence and supporters of the project. At the time of payment, supporters should provide at least the following information and additional information that the supporter might be able to identify: project name and location; The date of the doD agreement; Amount of contribution. Pension plan members have the option of making additional voluntary contributions; neither contributions nor the benefits that flow from them are included in the tables above. For the purposes of this section, “annual increases” refer to the sum of any year of the total amount of employer contributions and contributions withheld from a participant`s account during the year of the plan, as well as mandatory and voluntary contributions from the member during the year of the plan.

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