401(k) Program. (a) The WNBA shall cause to be maintained for each Season during the term of this Agreement, a multi-employer profit sharing plan (the “Retirement and 401(k) Savings Plan”) qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended (the “Code”). During each Season covered by this Agreement, the Retirement and 401(k) Savings Plan will:
(i) permit elective deferrals by each player of a portion of her Base Salary not in excess of the legal limit set forth in Section 402(g) of the Internal Revenue Code (“401(k) Deferrals”);
(ii) provide for employer matching contributions equal to twenty-five percent (25%) of the 401(k) Deferrals contributed to the 401(k) Plan by each player during that Season (“Matching Contributions”); and
(iii) provide for employer contributions for each Season on behalf of each eligible player for such Season (“Regular Contributions”) equal to an amount to be determined as follows:
(1) players with two years of WNBA playing service as of the end of that Season — two percent (2%) of the player’s Base Salary for that Season;
(2) players with three years of WNBA playing service as of the end of that Season — three percent (3%) of the player’s Base Salary for that Season; and
(3) players with four years or more of WNBA playing service as of the end of that Season — four percent (4%) of the player’s Base Salary for that Season.
(b) For purposes of subsection (a) above:
(i) the Base Salary of a player shall be as set forth in Exhibit 1 to her Contract;
(ii) a player shall be credited with a year of WNBA playing service if the player was on the Regular Season roster of any WNBA Team(s) for fifty percent (50%) or more of the total Regular Season games of the applicable Season; and
(iii) a player shall be an eligible player for a Season if that player is credited with a year of WNBA playing service for that Season.
(c) The 401(k) Deferrals, Matching Contributions and Regular Contributions shall be subject to all applicable limitations under the Internal Revenue Code.
(d) The total amount of 401(k) Deferrals, Matching Contributions and Regular Contributions shall be limited to an amount that will result in all of such deferrals and contributions being fully deductible under the Internal Revenue Code for the year in which contributed to the Retirement and 401(k) Savings Plan.
(e) In the event that the players are not, or cease to be considered, collectively bargained employees under the Internal Revenue Code, the Employee Retirem...
401(k) Program. Beginning January 1, 2025, a 401(k) plan (the “Retirement Plan”) shall be implemented allowing elective deferrals (i.e., Player contributions) and employer contributions. In the event that benefit costs as described in Section 9.12 below are below the Benefits Cap (as defined in Section 9.12 below) in a League Year, the difference up to the Benefits Cap will be contributed by the League to a retirement account, if consistent with applicable law.
(a) Benefits Eligible Players will be provided with enrollment information and the documents necessary for enrollment in the Retirement Plan.
(b) The PWHL reserves the right to (i) amend the Retirement Plan to satisfy all requirements of applicable law and regulations, and (ii) modify the terms of the Retirement Plan at its discretion, provided such changes are not inconsistent with this Agreement. All terms and conditions of the Retirement Plan, as it may be so modified, will apply to all Benefits Eligible Players covered by this Agreement.
401(k) Program. During the Term, the Bank shall provide for Executive’s participation in the Bank’s 401(k) retirement plan in accordance with the benefits provided to Bank employees generally.
401(k) Program. As a full time employee, the Executive is eligible to contribute to the Company’s 401(k) plan. The Company will match dollar-for-dollar the Executive’s contribution up to 4% of his annual salary. Benefits are subject to review and may be revised as deemed necessary by the Company. Details of the benefit plans will be provided to Employee on or before Employee’s start date.
401(k) Program. When such plan becomes available, Modi will be eligible to participate in SITEK's 401K retirement progrxx xxxer the same terms as those applicable to all SITEK Executives.
401(k) Program. When such plan becomes available, Executive Employee will be eligible to participate in Employer's 401K retirement program under the same terms as those applicable to Employer's other Executive Employees.
401(k) Program. Xxx shall continue to be eligible to participate in the Company’s 401k program, in accordance with the terms thereof.
401(k) Program. Employees will be entitled to elect to have non-matched deductions made from their pay and deposited to the Local 274 401(k) Program, to the extent permitted by applicable law.
401(k) Program. When such plan becomes available, Gates will be eligible to participate in SITEK's 401K retirement progrxx xxxer the same terms as those applicable to all SITEK Executives.
401(k) Program. When such plan becomes available, Simon will be eligible to participate in SITEK's 401K retirement progrxx xxxer the same terms as those applicable to all SITEK Executives.
