CATCH-UP CONTRIBUTION ELECTION Clause Samples

CATCH-UP CONTRIBUTION ELECTION. A Participant who will be at least 50 years old during the Plan Year may make a Catch-Up Contribution Election, which will be applicable to all subsequent payroll periods within such Plan Year after the execution of the Catch-Up Contribution Election. The terms of any such Catch-Up Contribution Election shall provide that the Participant agrees to a reduction in Base Pay each payroll period from the Employer equal to a specified dollar amount of his Base Pay per payroll period with Catch-Up Contributions to be made by the Employer equal to such amount for each such payroll period; provided, however, that the Catch-Up Contribution Election shall only be effective with respect to a payroll period during which the Participant's Before-Tax Contributions (excluding Catch-Up Contributions) exceed an Applicable Limit as defined in Section 2.13.

CATCH-UP CONTRIBUTION ELECTION. Notwithstanding the election set forth above, the amount of salary deferral shall be increased by the additional amount below:   $ for individuals age 50 or over. $ for individuals who are in one of the last three years prior to normal retirement age. I choose to invest my account as follows: YOU MUST SELECT OPTION 1 or OPTION 2 BELOW.     

CATCH-UP CONTRIBUTION ELECTION. Separate from the above, qualifying individuals under either of the below criteria are eligible to optionally defer an additional portion of their salary. If selected, the total amount of salary deferral will be increased by the following amounts: ▢ I am age 50 or over, and defer the additional amount of: $ ▢ I am in 1 of the last 3 years prior to normal retirement age, and defer the additional amount of: $

CATCH-UP CONTRIBUTION ELECTION. If you attain age 50 at any time during the year and have made salary deferrals up to the maximum deferral limit, you are eligible to make an additional “catch-up contribution” up to the applicable catch-up contribution limit. For 2019, the limit is $6,000. □ I am age 50 or over and wish to make a catch-up contribution of $ .

CATCH-UP CONTRIBUTION ELECTION. ❑ Check the box if you wish to make the annual statutory contribution. ❑ Cancel existing Special 403(b) Catch-up Contribution election.