Automatic Enrollment. (a) If the Employer so elects in the Adoption Agreement, each Employee eligible under the Employer’s Code Section 401(k) cash or deferred arrangement shall automatically become a Participant in the Plan as of the first Entry Date after satisfying the Plan’s eligibility requirements. The default deferral contributions are to be treated as pre-tax Elective Deferrals. The Employer may elect in the Nonstandardized Adoption Agreement to apply the automatic enrollment provisions to current Employees and Participants or only to Employees hired on or after the Effective Date of the adoption of or the amendment to the Plan providing for the automatic enrollment provisions. If the Employer elects the provision to apply to current Employees, the Employer will apply the automatic enrollment provision to Employees who have not made an affirmative election to defer an amount to the Plan, including a zero (0) amount.
(b) After satisfying the Plan’s eligibility requirements, each Employee will have his or her Compensation automatically reduced by the percentage elected in the Adoption Agreement. These amounts will be contributed to the Plan. An election by the Employee not to make Elective Deferrals or to contribute a different percentage may be made at any time. The election is effective for the first pay period and subsequent pay periods (until superseded by a subsequent election) if filed when the Employee is hired, or within a reasonable period thereafter ending before the Compensation for the first pay period is currently made available. In the event an Employee has Elective Deferrals withheld pursuant to this provision and no investment directive has been received, any cash received shall be invested as provided for in paragraph 13.6 herein or another appropriate vehicle. If an Employee elects to receive cash in lieu of Elective Deferrals and the election is made when the Employee is hired or within a reasonable period thereafter ending before the Compensation is currently available, then no Elective Deferrals for the first pay period or subsequent pay periods are made on the Employee’s behalf to the Plan until the Employee makes a subsequent affirmative election to reduce his or her Compensation. Elections filed at a later date are effective as soon as administratively feasible pursuant to the election in the Adoption Agreement.
(c) If so elected in the Adoption Agreement, for those current Participants who are deferring at a percentage or dollar amount less than t...
Automatic Enrollment. The Employer elects the automatic enrollment provisions as follows:
Automatic Enrollment. The Employer elects the automatic enrollment provisions for Elective Deferrals as follows. Automatic enrollment in Xxxx Elective Deferrals is not permitted under the Plan. The automatic enrollment provisions apply to all eligible Employees. Employees and Participants shall have the right to amend the stated automatic Elective Deferral percentage or receive cash in lieu of deferral into the Plan.
Automatic Enrollment. (a) The Plan □ does / X does not have automatic enrollment. If not, skip to Item 16. If the Plan has automatic enrollment, the Plan is an (check one): □ Automatic Contribution Arrangement (ACA). The ACA will be effective: (“ACA Effective Date”). □ Eligible Automatic Contribution Arrangement (EACA). The EACA will be effective: (“EACA Effective Date”).
(b) Automatic Enrollment applies to (check one): □ All Participants. □ All Participants, except those who have in effect an Enrollment Agreement on the ACA Effective Date or EACA Effective Date, as applicable, provided that the elective deferral amount under the Enrollment Agreement is at least equal to the Automatic Deferral Percentage. □ All Participants, except those who have in effect an Enrollment Agreement on the ACA Effective Date or EACA Effective Date, as applicable, regardless of the elective deferral amount under the Enrollment Agreement. □ All Participants, except those who have in effect an Enrollment Agreement on the ACA Effective Date or EACA Effective Date, as applicable, provided that the elective deferral amount under the Enrollment Agreement is greater than 0%. □ Each Employee whose Entry Date is on or following the ACA Effective Date or EACA Effective Date, as applicable. □ Each Employee whose date of hire is on or following the ACA Effective Date or EACA Effective Date, as applicable. □ Other: (The Employer may further describe affected Participants, e.g., non- collective bargaining employees or “division A employees.”)
(c) The Automatic Deferral Percentage of any Participants making automatic deferrals on the date immediately prior to the ACA Effective Date or EACA Effective Date, as applicable, in an amount that is greater than the applicable Automatic Deferral Percentage described in Item 14(f) below □ shall / □ shall not be decreased.
(d) The initial Automatic Deferral Percentage □ does / □ does not apply to Employees rehired after the ACA Effective Date or EACA Effective Date, as applicable.
(e) Xxxx elective deferrals (check one or more, as applicable): □ Automatic deferrals shall be treated as Xxxx elective deferrals rather than as pre-tax deferrals. □ If the Employer elects Item 14(b)(ii), for Participants that have a Xxxx elective deferral election in place, the Automatic Deferral Percentage includes only the incremental percentage amount necessary to increase the Participant’s pre-tax deferral so that when aggregated with the Xxxx elective deferral is equal to the Automatic Defer...
Automatic Enrollment. Insurance eligible employees are automatically enrolled for District paid disability insurance.
Automatic Enrollment. Automatic enrollment, as described in Section 2.4 of the Base Plan Document, shall/ shall not apply.
Automatic Enrollment. If the Employer so elects in the Adoption Agreement, each Employee eligible under the Employer’s Code Section 401(k) cash or deferred arrangement shall automatically become a Participant in the Plan as of the first Entry Date after satisfying the Plan’s eligibility requirements. The Employer may elect on the Adoption Agreement to apply the automatic enrollment provisions to current Employees and Participants or only to Employees hired on or after the Effective Date of the adoption of or the amendment to the Plan providing for the automatic enrollment provisions. If the Employer elects the provision to apply to current Employees, the Employer will apply the automatic enrollment provision to Employees and Participants who are deferring at less than the amount elected on the Adoption Agreement on or after the Effective Date of the adoption of or the amendment to the Plan, except for those Employees and Participants who make an affirmative election to receive the Compensation in cash.
Automatic Enrollment. Automatic enrollment is permitted. The terms of the automatic enrollment, including but not limited to the percentage, automatic increases to that percentage, the proportion that is considered a Pre-Tax Elective Deferral and/or a Xxxx Elective Deferral, and the Participants to whom it applies, will be set forth in an administrative policy regarding Elective Deferrals as promulgated from time to time by the Administrator.
Automatic Enrollment. The Employer in the Adoption Agreement may provide for automatic Salary Reduction Contributions of a specified amount, subject to giving notice to affected Participants of the automatic election and of their right to make a contrary election.
Automatic Enrollment. This feature allows Plan Sponsors to automatically enroll eligible Clergy at a rate of Before- Tax Contributions chosen by the Plan Sponsor. Plan Sponsors may elect from the following choices which group of Clergy will be subject to Automatic Enrollment:
Option 1: All Clergy eligible for Plan participation, except those who are making After-Tax or Xxxx Contributions,
Option 2: All Clergy eligible for Plan participation who are not making Participant Contributions as of the effective date of Automatic Enrollment, including Clergy who become eligible for Plan participation on or after the effective date of Automatic Enrollment. Option 3: All Clergy who become eligible for Plan participation on or after the effective date of Automatic Enrollment.
