Basic Matching Contributions Sample Clauses
The Basic Matching Contributions clause outlines the employer's obligation to match a portion of an employee's contributions to a retirement or savings plan, such as a 401(k). Typically, this means the employer will contribute a set percentage of the employee's salary, up to a certain limit, based on how much the employee contributes themselves. For example, an employer might match 50% of employee contributions up to 6% of their salary. This clause incentivizes employees to save for retirement by providing additional funds and helps clarify the employer's financial commitment to the plan.
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.
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.
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%
Basic Matching Contributions. Contributions made by Employing Companies in accordance with Section 5.2 (Basic and Bonus Matching Contributions).
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 %
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).
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 ▇▇▇▇ basis or ☒ on a pre-tax, ▇▇▇▇ 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.
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,