114           Transfer Contribution Clause Samples

The 114 Transfer Contribution clause defines the process and conditions under which a party may transfer its rights or obligations to contribute assets, funds, or other resources under an agreement to another entity. Typically, this clause outlines the requirements for such a transfer, such as obtaining prior written consent from the other party or meeting specific eligibility criteria. For example, it may allow a company to assign its obligation to make a financial contribution to a subsidiary, provided certain conditions are met. The core function of this clause is to ensure transparency and control over who is responsible for contributions, thereby preventing unauthorized or undesirable transfers and maintaining the integrity of the agreement.
114           Transfer Contribution. A non-taxable transfer of a Participant’s benefit directly from a Qualified Plan to this Plan. This type of transfer does not constitute constructive receipt of plan assets.
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Related to 114           Transfer Contribution

  • Rollover Contributions and Transfers The Custodian shall have the right to receive rollover contributions and to receive direct transfers from other custodians or trustees. All contributions must be made in cash or check.

  • Rollover Contributions An amount which qualifies as a rollover contribution pursuant to the Federal Internal Revenue Code may be transferred to and paid under this contract as a contribution for a Participant. Prudential may require proof that the amount paid so qualifies.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

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