Basic Matching Contributions Sample Clauses

Basic Matching Contributions. The Employer shall make Basic Matching Contributions equal to 100% of the first 3% of the Eligible Participant's Plan Compensation contributed as Elective Deferral Contributions and 50% of the next 2% of the Eligible Participant's Plan Compensation contributed as Elective Deferral Contributions and shall be based upon (select one): ¨(a) each payroll period ¨(b) the Plan Year
Sample 1See All (4)
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Basic Matching Contributions. The Employer will make a Basic Matching Contribution in an amount equal to 100 percent of the Matched Salary Deferral Contributions of all Participants; provided, however, that the Employer will only provide a Basic Matching Contribution on Matched Salary Deferral Contributions made after a Participant satisfies the requirements of Section 2.02(b).
Sample 1
Basic Matching Contributions. That percentage of each Contributing Participant’s Elective Deferrals determined by the rate of each Contributing Participant’s Elective Deferrals as specified in the matching schedule below. Elective Deferral Percentage Matching Percentage Base Rate Less than or equal to 3% 100% Tier 2 Greater than 3, but less than or equal to 5% 50%
Sample 1
Basic Matching Contributions. That percentage of each Contributing Participant’s Elective Deferrals determined by the rate of each Contributing Participant’s Elective Deferrals as specified in the matching schedule below. Elective Deferral Percentage Matching Percentage Base Rate Less than or equal to 3% 100% Tier 2 Greater than 3, but less than or equal to 5% 50% Enhanced Matching Contributions. That percentage of each Contributing Participant’s Elective Deferrals determined by the rate of each Contributing Participant’s Elective Deferrals as specified in the matching schedule below. Elective Deferral Percentage Matching Percentage Base Rate Less than or equal to % (not less than three) Tier 2 Greater than , but less than or equal to %
Sample 1
Basic Matching Contributions. The Employer shall contribute a1 Matching Contribution on behalf of a Participant in an amount equal to (check one): [ ] No Matching Contribution shall be made with respect to Basic Contributions made on behalf of the Employer's Employees [x] 5 percent of the Participant's Compensation [ ] The lesser of 5 percent of the Participant's Compensation or $ [ ] 6 percent of the Participant's Compensation [ ] The lesser of 6 percent of the Participant's Compensation or $ and such percentage limit shall be applied (check one): [ ] each payroll period in the Program Year [x] for the Program Year, in which case such Matching Contribution shall be made each payroll period, and at the end of the Program Year, a "true-up" Matching Contribution shall be made to the extent necessary to cause the Participant's Matching Contribution for the Program Year to equal the percentage indicated as limited above; provided, however, that such "true-up" Matching Contribution shall be made only if the Participant is an Employee on the last day of the Program Year. No Matching Contribution shall be contributed as provided in this paragraph 4(c) until the first Entry Date on or after a Participant's completion of 1 Plan Service Year. Notwithstanding the foregoing,
Sample 1
Basic Matching Contributions. 10 a. The Employer will make Basic Matching Contributions to this Plan, determined as follows: ☒ the following percentage of the amount by which a Participant who satisfies the requirements in Section III.B.2.b elects to reduce his or her Compensation ☐ on a pre-tax or Xxxx basis or ☒ on a pre-tax, Xxxx or after-tax basis: ☐ ___% of the first ___% of Compensation deferred and ___ of the Compensation in excess of up to ___% of Compensation deferred. ☒ a percentage to be determined each Plan Year by the Company. Such contributions shall be limited to N/A % of a Participant’s Compensation for the Plan Year. Basic Matching Contributions shall be in addition to Safe Harbor Matching Contributions, if any.
Sample 1
Basic Matching Contributions. The Employer will make Matching Contributions and allocate to each Participant's ADP Safe Harbor Contribution Account an amount equal to: (i) $1.00 for each $1.00 of the Employee's Elective Deferral Contribution up to 3% of the Employee's Compensation; plus (ii) $.50 for each $1.00 of the Employee's Elective Deferral Contribution in excess of 3% up to 5% of the Employee's Compensation. January 1, 2003 Plan X. CONTRIBUTIONS Document Section [ ] b. Enhanced Matching Contributions. The Employer will make Matching Contributions and allocate to each Participant's ADP Safe Harbor Contribution Account an amount equal to the sum of: (i) $1.00 for each $1.00 of the Employee's Elective Deferral Contribution up to ____% (must be at least 3%, but not greater than 6%) of the Employee's Compensation; plus - Note: If the blank above equals at least 4% or more, section (ii), below, need not, but still may, be filled in. (ii) $_____ for each $1.00 of the Employee's Elective Deferral Contribution in excess of _____ % [must be the same percentage as in (i)], but that does not exceed of the Employee's Compensation.
Sample 1
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Basic Matching Contributions. Contributions made by Employing Companies in accordance with Section 5.2 (Basic and Bonus Matching Contributions).
Sample 1

Related to Basic Matching Contributions

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement. 8.2 Contributions shall be recorded on a remittance form and remitted to the designated recipient of such contributions on or before the fifteenth (15) day of the month following the month for which contributions are to be made. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds, as liquidated damages and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter, interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 8.3 The amounts to be designated as wages and/or Employer contributions to the above funds may be varied from time to time by agreement between the Association and the Union. 8.4 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Funds, including provisions for audit security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. 8.5 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 8.6 All employer contributions due and payable to the above funds, except industry promotion funds, shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds and industry promotion funds are not wages or benefits due to an employee and industry promotion funds are dues for services rendered by the Association. 8.7 The Business Representative of the Local Union may inspect, during regular business hours, the Company's record of time worked by employees and contributions to the plan. 8.8 The Employer shall be responsible for the payment of any government sales taxes applicable to any trust fund contributions payable by the Employer.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Company Contributions The Company shall continue to make a Company Contribution for Plan Years 2017, 2018 and 2019, on the same terms and conditions set forth in the Participant Agreement, with the performance metrics and targets in connection with such Company Contributions for such Plan Years to be established in the sole discretion of the Committee, following consultation with the Chief Executive Officer of the Company.

  • Participant Contributions If Participant contributions are permitted, complete (a), (b), and (c). Otherwise complete (d).

  • Elective Deferrals (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.

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