Basic Contributions. If the Employer, at the time of contribution, designates a contribution to be a basic contribution for the Plan Year, the Administrative Committee will allocate that basic contribution to the Basic Contributions Account of each Participant eligible for an allocation of that designated contribution, as specified in Section 3.04 of the Employer's Adoption Agreement. The Administrative Committee will make the allocation to each eligible Participant's Account in the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all eligible Participants for the Plan Year. The Administrative Committee will determine a Participant's Compensation in accordance with the general definition of Compensation under Section 1.12 of the Plan, as modified by the Employer in Sections 1.12 and 3.06 of its Adoption Agreement.
Basic Contributions i. Each Participant shall be allowed to have his wage reduced biweekly up to the appropriate maximum bi-weekly amount specified in Exhibit B. Such R bi-weekly wage reduction shall be in multiples of $2 and shall be contributed to the Participant’s account. Such bi-weekly wage reduction shall be known as “Basic Contributions”.
ii. The minimum Basic Contribution shall be $10 for each bi-weekly pay period.
Basic Contributions. Contributions made by an Employer or Participant in accordance with the provisions of Section 3.1 and/or 3.2, respectively.
Basic Contributions. “Basic Contributions” shall have the same meaning as the definition of the term in the 401(k) Plan.
Basic Contributions. You will contribute by payroll deduction of your earnings and the Employer will contribute an equal amount on your behalf. The maximum amount for which you are allowed tax relief in any one year is limited to the amounts deductible under the provisions of the Income Tax Act. You may contribute any amount of voluntary contributions to the Plan. The amount for which tax relief is allowed in any one year is limited to the amounts deductible under the provisions of the Income Tax Act. If you are contributing voluntary contributions by payroll deduction, in order for you to change the amount being deducted, you must give written notice to the Employer no later than one month before the date of change. Interest is derived from the contributions the Employer has invested in the Daily Interest Account, Term Deposit Account and the Investment Funds Account in the funding contract. If the Employer directs contributions to the Investment Funds Account, the Investment Funds Account will be credited with the number of Investment Units equal in value to such contributions. The value of all contributions will be calculated each month when the Investment Fund is revalued and will reflect the rate of return earned by the Investment Fund. The investment experience of this Account is not guaranteed. The amount of your monthly pension on retirement will be the amount which your Individual Account balance will purchase when applied on the date you retire. However, if you have a spouse with whom you are not living separate and apart on your retirement date, your pension will not be payable in the normal form as stated above. Instead the pension will be payable in the form of a monthly annuity on your retirement date and continuing for your lifetime with o the monthly annuity payable to your spouse for lifetime after your death. You and your spouse may jointly waive the to this payment method, in writing, in the prescribed form required by Legislation or by certified copy of a domestic contract as defined in Part of the Family Law Act, containing the waiver. Such election may be made at any time prior to retirement date but the spousal waiver is not effective unless the written waiver or certified copy is delivered to the Employer within the period of months immediately preceding your annuity commencement date.
Basic Contributions. You w i l l contribute of your regular earnings by payroll deduction and the Company w i l l contribute a matching amount to the Plan on your behalf. All contributions t o the Plan w i l l cease at your retirement date. Since your contributions to the Plan are tax deductible, your income tax W i l l be reduced while you are a member of Plan. You may contribute in excess of your basic required contributions by payroll deduction but not more than the maximum amount allowed as a tax deduction under the terms of the Income Tax Act.
Basic Contributions. As a Basic contribution, the Employer shall contribute a percentage of the Participant's Compensation based on the Participant's age reached during the Plan year, subject to a minimum Basic contribution, as set forth in Appendix A. The Basic contribution set forth in Appendix A has been determined actuarially based on a career average defined benefit formula of 1.1% of Compensation earned during each Plan year using the unit credit funding method and the 1971 Male Group Annuity Mortality Table with ages set back 3 years for post retirement mortality and interest at 6% per annum compounded annually. The minimum Basic contribution is computed based on a minimum monthly benefit of $15.71 for the Plan year reduced proportionately for less than 2,000 "hours worked," where such term includes actual hours worked while a Participant in the Plan plus hours of pay for vacation, holidays, jury duty and bereavement absence.
Basic Contributions. Birthday in Contribution as A % Minimum Contribution per Plan Year of Compensation hour worked during the Plan Year* ----------- ------------------- --------------------------------- 80th 6.673% $ .57 79 6.960 .59 78 7.248 .62 77 7.535 .65 76 7.819 .67 75 8.104 .69 74 8.392 .72 73 8.685 .74 72 8.984 .77 71 9.286 .80 70 9.589 .82 69 9.892 .85 68 10.195 .87 67 10.496 .90 66 10.793 .93 65 11.084 .95 64 10.457 .90 63 9.865 .85 62 9.306 .80 61 8.780 .75 60 8.283 .71 59 7.814 .67 58 7.372 .63 57 6.954 .60 56 6.561 .56 55 6.189 .53 54 5.839 .50 53 5.508 .47 52 5.197 .45 51 4.902 .42
Basic Contributions. As a Basic contribution, the Employer shall contribute a percentage of the Participant's Compensation based on the Participant's age reached during the Plan year, subject to a minimum Basic contribution, as set forth in Appendix A. The Basic contribution set forth in Appendix A has been determined actuarially based on a career average defined benefit formula of 1.1% of Compensation earned during each Plan year using the unit credit funding method and the 1971 Male Group Annuity Mortality Table with ages set back 3 years for post retirement mortality and interest at 6% per annum compounded annually. Pre-Retirement discount is at 8% interest only. The minimum Basic contribution is computed based on a minimum monthly benefit of $15.71 for the Plan year reduced proportionately for less than 2,000 "hours worked," where such term includes actual hours worked while a Participant in the Plan plus hours of pay for vacation, holidays, jury duty and bereavement absence.
Basic Contributions. For each month, the Company shall make a Basic Contribution to the Trust on behalf of each Participant who has entered into a Salary Reduction Agreement equal to the amount specified in said Salary Reduction Agreement. In addition to the Basic Contributions made by the Company pursuant to the preceding sentence, the Company may, in order to cause the test in Section 6.02(a)(i) or (ii) to be satisfied for a Plan Year, make a special Basic Contribution to the Trust for such Plan Year, which special Basic Contribution shall be in an amount determined by the Company in its sole discretion and shall be allocated for the benefit of all Participants who are employed on the Anniversary Date of such Plan Year and are not Highly Compensated Employees either (i) in proportion to each such Participant's Compensation for such Plan Year or (ii) in equal dollar amounts on a per capita basis, as shall be designated by the Company at the time such special Basic Contribution is made. Notwithstanding anything hereinabove to the contrary, Basic Contributions shall be subject to the limitations described in Article VI of the Plan.
