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. 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 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. The Employer will make Matching Contributions and allocate to each Participant's ADP Safe Harbor Contribution Account an amount equal to:
Sample 1
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. Contributions made by Employing Companies in accordance with Section 5.2 (Basic and Bonus Matching Contributions).
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% Option 2: 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 % (not more than six)
Sample 1
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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

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.

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • 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.

  • 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.

  • Employer Profit Sharing Contributions An Employee will be eligible to become a Participant in the Plan for purposes of receiving an allocation of any Employer Profit Sharing Contribution made pursuant to Section 11 of the Adoption Agreement after completing 1 (enter 0, 1, 2 or any fraction less than 2)

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

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

  • Rollover Contributions Generally, a rollover is a movement of cash or assets from one retirement plan to another. If you are required to take minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Both the distribution and the rollover contribution are reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. IRA-to-IRA Rollover: You may withdraw, tax free, all or a portion of your Traditional IRA if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Traditional IRA as a rollover. To complete a rollover of a SIMPLE IRA distribution to your Traditional IRA, at least two years must have elapsed from the date on which you first participated in any SIMPLE IRA plan maintained by the employer, and you must contribute the distribution within 60 days from the date you receive it. Only one IRA distribution within any 12-month period may be rolled over in an IRA-to-IRA rollover transaction. The 12-month waiting period begins on the date you receive an IRA distribution that you subsequently roll over, not on the date you complete the rollover transaction. If you roll over the entire amount of an IRA distribution (including any amount withheld for federal, state, or other income taxes that you did not receive), you do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents basis) and may be, if you are under age 59½, subject to the premature distribution penalty tax. Employer Retirement Plan-to-Traditional IRA Rollover (by Traditional IRA Owner): Eligible rollover distributions from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Traditional IRA. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that may not be rolled over to your Traditional IRA include any required minimum distributions, hardship distributions, any part of a series of substantially equal periodic payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover from an employer plan to your Traditional IRA, you must generally instruct the plan administrator to send the distribution to your Traditional IRA Custodian. To complete an indirect rollover to your Traditional IRA, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution to complete an indirect rollover. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents after-tax contributions) and may be, if you are under age 59½, subject to the premature distribution penalty tax. If you choose the indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the full amount. If you do not make up the withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Conduit IRA: You may use your IRA as a conduit to temporarily hold amounts you receive in an eligible rollover distribution from an employer’s retirement plan. Should you combine or add other amounts (e.g., regular contributions) to your conduit IRA, you may lose the ability to subsequently roll these funds into another employer plan to take advantage of special tax rules available for certain qualified plan distribution amounts. Consult your tax advisor for additional information. Employer Retirement Plan-to-Traditional IRA Rollover (by Inherited Traditional IRA Owner): Please refer to the section of this document entitled “Inherited IRA”. Traditional IRA-to-Employer Retirement Plan Rollover: If your employer’s retirement plan accepts rollovers from IRAs, you may complete a direct or indirect rollover of your pre-tax assets in your Traditional IRA into your employer retirement plan. If you are required to take minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Rollover of Exxon Xxxxxx Settlement Income: Certain income received as an Exxon Xxxxxx qualified settlement may be rolled over to a Traditional IRA or another eligible retirement plan. The amount contributed cannot exceed the lesser of $100,000 (reduced by the amount of any qualified settlement income contributed to an eligible retirement plan in prior tax years) or the amount of qualified settlement income received during the tax year. Contributions for the year can be made until the due date for filing your return, not including extensions.

  • Qualified Nonelective Contributions If the Employer, at the time of contribution, designates a contribution to be a qualified nonelective contribution for the Plan Year, the Advisory Committee will allocate that qualified nonelective contribution to the Qualified Nonelective 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 Advisory 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 Advisory 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.

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