Contribution Limitation Clause Samples
A Contribution Limitation clause sets a cap on the amount a party is required to pay or contribute in the event of a loss, claim, or liability arising under the agreement. Typically, this clause specifies a maximum financial responsibility, such as limiting damages to the amount paid under the contract or to a predetermined sum. By establishing these boundaries, the clause helps manage financial risk and provides certainty for both parties regarding their potential exposure, thereby preventing disproportionate or unexpected liabilities.
Contribution Limitation. Please add the dollar amount from section (I) and the dollar amount from sections (II) and (III) if applicable to check the total annual dollar amount estimated. (Will change if pay changes) Example: My salary is 35,000. I’d like to contribute 5% that will be matched and an additional 6% for a total of 11% of my salary: 35000 x .11=$3,850 total employee annual contribution.
Contribution Limitation. No participant shall be permitted to have elective deferrals made under this Plan, or any other qualified plan maintained by the employer during any taxable year, in excess of the dollar limitation contained in section 402(g) of the Code in effect for such taxable year, except to the extent permitted under Section 5.12 of the Plan and section 414(v) of the Code, if applicable.
Contribution Limitation. There may be certain limitations on the amount of a rollover contribution you may make to this ▇▇▇▇ ▇▇▇. Please refer to the Program Literature for more details.
Contribution Limitation. In any applicable year, the maximum District contribution will not cause an employee’s 403(b) account to exceed the applicable contribution limit under Internal Revenue Code Section 415(c)(1), as adjusted for cost-of-living increases. For District nonelective contributions made post-employment to an employee’s 403(b) account, the contribution limit will be based on the employee’s compensation, as determined under Internal Revenue Code Section 403(b)(3) and, in any event, there will be no District nonelective contribution made on behalf of the former employee after the fifth taxable year following the taxable year in which that employee terminated employment. If the calculation of the District nonelective contribution referenced in any of the preceding paragraphs exceeds the applicable contribution limits, the excess amount will be handled by the District as follows: The District will first make a District nonelective contribution up to the Internal Revenue Code’s contribution limit. To the extent that the District nonelective Contribution exceeds the contribution limit, the excess will be reallocated to the employee the following year as a District nonelective contribution (which contribution will not exceed the maximum amount permitted under the Code), and in January of each subsequent year for up to four years after the year of the employee’s employment severance, until the District nonelective contribution is fully deposited into the employee’s 403(b) account. In no case will the District nonelective contribution exceed the applicable contribution limit.
Contribution Limitation. To the extent provided in the Adoption Agreement, the Employer shall make all contributions to the Plan without regard to current or accumulated earnings and profits for the taxable year or years ending with or within such Plan Year. Not withstanding the foregoing, the Plan shall continue to be designed to qualify as a profit sharing plan for purposes of sections 401(a), 402 and 417 of the Code. In no event shall Employer contributions in the aggregate exceed fifteen percent (15%) of all Participants' Compensation or such greater amount deductible for federal income tax purposes under section 404 of the Code.
Contribution Limitation. All contributions to the Plan shall be made without regard to current or accumulated earnings and profits of the Employer for the taxable year(s) ending with or within the Plan Year. Notwithstanding the foregoing, the Plan shall be designed to qualify as a profit sharing plan for purposes of the Code. In no event shall any Employer contribution (plus any Elective Deferrals) exceed the maximum amount deductible from the Employer's income under section 404 of the Code or any amount allocated to the Account of a Participant exceed the maximum limitations under section 415 of the Code provided in Article VI.
Contribution Limitation. (a) For the purpose of determining the contribution limitation set forth in this section, the following terms are defined: ADDITION ADDITIONS mean the sum of the following amounts credited to a Member's account for the Limitation Year:
(1) employer contributions,
(2) employee contributions,
(3) forfeitures, and
(4) amounts allocated, after March 31, 1984, to an individual medical account, as defined in Code Section 415(l)(2), which is part of a pension or annuity plan maintained by the Employer. These amounts are treated as Annual Additions to a defined contribution plan. Also amounts derived from contributions paid or accrued after December 31, 1985, in taxable years ending after such date, which are attributable to post-retirement medical benefits, allocated to the separate account of a key employee, as defined in Code Section 419A(d)(3), under a welfare benefit fund, as defined in Code Section 419(e), maintained by the Employer are treated as Annual Additions to a defined contribution plan. For this purpose, any Excess Amount applied under (d) and (j) below in the Limitation Year to reduce Employer Contributions will be considered Annual Additions for such Limitation Year.
Contribution Limitation. Definitions12 The following definitions are applicable to this Section 12 (where a definition is contained in both Sections 1 and 12, for purposes of Section 12 the Section 12 definition shall be controlling):
Contribution Limitation. In any applicable year the maximum Employer Contribution shall not cause an employee’s 403(b) account to exceed the applicable contribution limit under Section 415(c)(1) of the Code, as adjusted for cost-of-living increases. For Employer Non-elective Contributions made post-employment to former employees’ 403b account, the Contribution Limit shall be based on the employee’s compensation, as determined under Section 403(b)(3) of the Code and in any event, no Employer Non-elective Contribution shall be made on behalf of such former employee after the first pay period of December following retirement. In the event that the calculation of the employer Non-elective Contribution referenced in any of the preceding paragraphs exceed the applicable Contribution Limits, the excess amount shall be handled by the Employer as follows: The Employer shall first make an Employer Non-elective Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess amount as compensation directly to the Employee. In no instance shall the Employee have any rights to, including the ability receive, any excess amount as compensation unless and until the Contribution Limit of the Internal Revenue Code are fully met through payment of the Employer’s Non-elective Contribution.
Contribution Limitation. In no event shall the sum of any Employer Contributions and Salary Deferral Contributions exceed the maximum amount deductible from the Employer’s income under Section 1023 of the PR Code.