Amount of Contribution. The Employer agrees to permit Elective Deferrals to be made in each Plan Year to the SIMPLE IRA established by or on behalf of each of the Employer’s Employees who are eligible to participate in the Plan. The Employer agrees to contribute on behalf of each Participant for the Plan Year an amount determined under one of the written allocation formulas specified in Item 4 of the Adoption Agreement. All contributions must be made solely in cash.
Appears in 5 contracts
Samples: Simple Ira Plan Agreement, Simple Ira Plan Agreement, Simple Ira Plan Agreement
