Additional Voluntary Contributions. Effective January 1, 2022, all members in the DB provisions of the Harmonized Pension Plan can participate in the Additional Voluntary Contributions (AVC) feature of the Harmonized Plan and have the option to contribute up to 3% of their base pay as AVCs into the Harmonized DB Pension Plan.
Additional Voluntary Contributions. In addition to the funding otherwise called for by this Section E, either the Association, in its discretion, or the Clubs, in their discretion, may contribute additional amounts to IGF for use in the activities described in Section B above.
Additional Voluntary Contributions. 8.1 The AVC Fund shall be disregarded for all purposes of this Schedule except paragraphs 8.2 and 8.
8.2 The Vendor shall use reasonable endeavours to procure that the trustees of the 1991 Scheme will transfer the AVC Fund to the trustees of the Purchaser's Plan as soon as practicable after the Payment Date.
8.3 The Purchaser shall procure that the trustees of the Purchaser's Plan shall apply the AVC Fund, so as to provide appropriate money purchase benefits for, and in respect of, the appropriate Transferring Members.
Additional Voluntary Contributions. Your voluntary contributions will be deposited into the Pension Fund and will accumulate interest at a rate approximating that earned by the Pension Fund until you retire. At retirement, your voluntary contributions plus interest may be used to purchase an additional pension. Early retirement is permitted, any time after you have reached age 55. If you retire early, your annual pension will be calculated the same way as your normal retirement pension based on your contributions to the date of early retirement. Your pension is then reduced by ½ of 1% for each month that your early retirement date precedes your normal retirement date. The pension is reduced because payments are expected to be made over a longer period of time, than if you had retired at age 65. Effective July 1, 2004, if you are over 60 with 30 or more years of service, your pension will be unreduced. Postponed retirement is permitted, with Company consent, up to your 69th birthday. Your contributions will continue. At actual retirement, you will receive a greater pension than the benefit you would have received at normal retirement.
Additional Voluntary Contributions. F.1.1 A Member in Pensionable Service may, subject to the restrictions in clause F.1.2, make Additional Voluntary Contributions to the Plan and may increase, decrease or discontinue such contributions at such time and on such terms as may be agreed with the Trustee in order to provide additional benefits payable in the form of pensions or lump sum benefits as agreed between the Member and the Trustee or (in the absence of such agreement) as determined by the Trustee at its discretion.
F.1.2 The restrictions referred to in clause F.1.1 are that:
(a) the Additional Voluntary Contributions (together with all the Member’s other contributions to the Plan and all the Member’s contributions under all other Retirement Benefits Schemes which relate to Service with any of the Employers) shall not in any tax year exceed 15 per cent of the Member’s remuneration from the Employers in that year;
(b) the Additional Voluntary Contributions shall not be such that the additional benefits secured would prejudice Approval; and
(c) except in relation to a Member whose Additional Voluntary Contributions commenced on or before 7 April 1987, no part of any retirement pension provided by Additional Voluntary Contributions may be commuted for a lump sum. Additional Voluntary Contributions shall be reduced or discontinued whenever necessary to avoid contravention of (a) or (b) above. They shall also be discontinued when the Member ceases to be in Pensionable Service unless the Trustee (consistent with continued Approval) agrees otherwise.
F.1.3 The part of the Fund which is represented by or derived from:
(a) Additional Voluntary Contributions paid direct to the Plan, and
(b) that part of any transfer payment including a transfer payment from any of the Old Plans received by the Trustee in respect of any person which was kept separate from the other assets of the arrangement from which it was transferred and which is attributable to voluntary contributions made or deemed to be made by such person to the Retirement Benefits Scheme or arrangement from which the transfer payment is received (not in either case being contributions applied under the Plan to provide additional years of Pensionable Service) shall be known as “Segregated Assets” and shall be kept separate from the other assets constituting the Fund.
F.1.4 The amounts of such additional benefits shall be determined by the Trustee (after consulting the Actuary or the Insurance Company or other organisation with which they may...
Additional Voluntary Contributions. Nothing in this Schedule shall apply to AVCs or to benefits secured by them (excluding added years benefits that are included in the calculation of the Transfer Amount). However, the Authority shall use reasonable endeavours to ensure that the assets representing each Transferring Member's AVCs held with an insurance company (if any) shall be transferred to the Contractor’s AVC Scheme. The Contractor shall (and shall procure that each relevant Sub-Contractor shall) ensure that the Contractor’s Scheme provides benefits for each relevant Transferring Member which are equivalent to the assets transferred.
Additional Voluntary Contributions. Employees meeting the above criteria have the option to contribute an additional 1%, 2%, or 3% of their annual salary which can be directed to the pre- tax or Xxxx options. This contribution is matched at 50% by the museum. Retirement Choice Plus Plan (RCP) – 407131 Section 4 - Voluntary Contributions- All employees are eligible to participate in the voluntary 403(b) RCP Plan immediately upon hire. This plan is not eligible for the employer match, but contributions can be directed to pre-tax or Xxxx options. How to enroll in the 403(b) Complete this enrollment form and forward to the Human Resources Department. You will also need to create an account on the secure TIAA website at xxxxx://xxx.xxxx.xxx/philamuseum. 403(b) Investment Selection To view a complete list of investment options and fund performance, visit: xxxxx://xxx.xxxx.xxx/philamuseum Option A: Contributions automatically directed to an age-appropriate Lifecycle fund.
Option B: Build your own portfolio. You can research, view performance, add or delete funds, and check your account status at any time. You may also call TIAA at 000-000-0000 or contact HR to make an appointment with a financial advisor from Exude for assistance or questions. How much may I contribute in a calendar year? In 2023, you can defer up to $22,500. If you are 50 or older, you can defer an additional $7,500 for a total of $30,000. The mandatory portion of your contributions is not included in the IRS limits but will appear in Box 12 of your W-2. Since the Defined Contribution plan is a XXXXX (Technical and Miscellaneous Revenue Act of 1988) plan, the mandatory contributions do not count toward the IRS limits. What types of distributions are available? Loans- Call TIAA or login to your account to determine if you are eligible to apply for a loan.
Additional Voluntary Contributions. The AVC Fund shall be disregarded for the purposes of the Transfer Amount.
Additional Voluntary Contributions. PARTICIPATION OF EMPLOYERS, TRANSFERS AND WINDING-UP..
Additional Voluntary Contributions. (1) An Active Member may pay, vary or stop paying AVCs to the Scheme in accordance with provisions agreed from time to time between the Trustee and the Employer, and subject to any terms of the relevant Benefit Specification.
(2) The Trustee in its sole discretion may permit a Deferred Member to make single or regular contributions to the Scheme but this will not of itself render the Deferred Member an Active Member or mean that the Deferred Member is in Pensionable Service by reference to an Employer.
(3) Any surplus AVCs will be returned (less tax) to the Member if and to the extent that the return constitutes a refund of excess contributions lump sum within the meaning of paragraph 6 of Schedule 29 to the FA 2004.
(4) Any AVCs paid under this Rule will be credited to the Member’s Personal Retirement Account.
