Before-Tax Contribution Election Clause Samples
Before-Tax Contribution Election. Upon becoming a Participant, an Eligible Employee may elect to reduce his or her Pay by an amount which does not exceed the Contribution Dollar Limit, within the limits described in the Contribution Percentage Limits paragraph of this Section 3, and have such amount contributed to the Plan by the Employer as a Before-Tax Contribution. The election shall be made as a whole percentage of Pay in such manner and with such advance notice as prescribed by the Administrator. In no event shall an Employee's Before-Tax Contributions under the Plan and comparable contributions to all other plans, contracts or arrangements of all Related Companies exceed the Contribution Dollar Limit for the Employee's taxable year beginning in the Plan Year.
Before-Tax Contribution Election. I, the undersigned employee, agree to have my employer deduct from my gross compensation (including tips withheld) on a pre-tax basis the following amount: %, or $ for each of the regular pay periods and contribute that amount to the deferred savings plan. This Agreement is effective as of the date above.