Common use of Contribution Limitations Clause in Contracts

Contribution Limitations. 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’ 403(b) 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 fifth (5th) taxable year following the taxable year in which that employee terminated employment. 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:

Appears in 1 contract

Samples: Negotiated Agreement

AutoNDA by SimpleDocs

Contribution Limitations. In any applicable year, the maximum Employer Contribution contribution shall not cause an employee’s Employee's 403(b) account to exceed the applicable contribution limit under Section 415(c)(1415 (c)(l) of the Code, as adjusted for cost-of-living increases. For Employer Non- Elective Non-electiYe Contributions made post-employment to former employees’ Employee's 403(b) account; , the Contribution Limit shall be based on the employee’s Employee's compensation, as determined under Section 403(b)(3403(b) (3) of the Code and in any event, no Employer Non-Elective elective Contribution shall be made on behalf of such former employee Employee after the fifth (5th) taxable year following the taxable year in which that employee Employee terminated employment. In the event that the calculation of the Employer Non-Elective elective Contribution referenced in any of the preceding paragraphs exceed the applicable Contribution Limitscontribution limits, the employer shall handle the excess amount shall be handled by the Employer as follows:

Appears in 1 contract

Samples: Agreement

Contribution Limitations. In any applicable year, the maximum Employer Contribution contribution shall not cause an employee’s Employee's 403(b) account to exceed the applicable contribution limit under Section 415(c)(1415 (c)(l) of the Code, as adjusted for cost-of-living increases. For Employer Non- Elective elective Contributions made post-employment to former employees’ Employee's 403(b) account; , the Contribution Limit shall be based on the employee’s Employee's compensation, as determined under Section 403(b)(3403(b) (3) of the Code and in any event, no Employer Non-Elective elective Contribution shall be made on behalf of such former employee Employee after the fifth (5th) taxable year following the taxable year in which that employee Employee terminated employment. In the event that the calculation of the Employer Non-Elective elective Contribution referenced in any of the preceding paragraphs exceed the applicable Contribution Limitscontribution limits, the employer shall handle the excess amount shall be handled by the Employer as follows:

Appears in 1 contract

Samples: Memorandum of Understanding

Contribution Limitations. In any applicable year, the maximum Employer Contribution contribution shall not cause an employee’s Employee's 403(b) account to exceed the applicable contribution limit under Section 415(c)(1415 (c)(l) of the ofthe Code, as adjusted for cost-of-living increases. For Employer Non- Elective Non­ elective Contributions made post-employment to former employees’ Employee's 403(b) account; , the Contribution Limit shall be based on the employee’s Employee's compensation, as determined under Section 403(b)(3403(b) of the (3) ofthe Code and in any event, no Employer Non-Elective elective Contribution shall be made on behalf of such behalfofsuch former employee Employee after the fifth (5th) taxable year following the taxable year in which that employee Employee terminated employment. In the event that the calculation of the ofthe Employer Non-Elective elective Contribution referenced in any of the ofthe preceding paragraphs exceed the applicable Contribution Limitscontribution limits, the excess amount shall be handled by the Employer as follows:

Appears in 1 contract

Samples: Agreement

Contribution Limitations. In any applicable year, the maximum Employer Contribution contribution shall not cause an employee’s Emplo ee's 403(b) account to exceed the applicable contribution limit under Section 415(c)(1415 (c)(l) of the Code, as adjusted for cost-of-living increases. For Employer Non- Elective Non-electiYe Contributions made post-employment to former employees’ Employee's 403(b) account; , the Contribution Limit shall be based on the employee’s Employee's compensation, as determined under Section 403(b)(3403(b) (3) of the Code and in any event, no Employer Nontfon-Elective elective Contribution shall be made on behalf of such former employee Employee after the fifth (5th) taxable year ear following the taxable year ear in which that employee Employee terminated employment. In the event that the calculation of the Employer Nontfon-Elective elective Contribution referenced in any of the preceding paragraphs exceed the applicable Contribution Limitscontribution limits, the employer shall handle the excess amount shall be handled by the Employer as follows:

Appears in 1 contract

Samples: Agreement

AutoNDA by SimpleDocs

Contribution Limitations. In any applicable year, the maximum Employer Contribution contribution shall not cause an employeeEmployee’s 403(b) account to exceed the applicable contribution limit under Section 415(c)(1415 (c)(1) of the Code, as adjusted for cost-of-living increases. For Employer Non- Elective Non-elective Contributions made post-employment to former employees’ Employee’s 403(b) account; , the Contribution Limit shall be based on the employeeEmployee’s compensation, as determined under Section 403(b)(3403(b) (3) of the Code and in any event, no Employer Non-Elective elective Contribution shall be made on behalf of such former employee Employee after the fifth (5th) taxable year following the taxable year in which that employee Employee terminated employment. In the event that the calculation of the Employer Non-Elective elective Contribution referenced in any of the preceding paragraphs exceed the applicable Contribution Limitscontribution limits, the excess amount shall be handled by the Employer as follows:

Appears in 1 contract

Samples: core-docs.s3.us-east-1.amazonaws.com

Contribution Limitations. 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 Non­ elective Contributions made post-employment to a former employees’ employee’s 403(b) 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 elective Contribution shall be made on behalf of such former employee after the fifth (5th) taxable year following the taxable year in which that employee terminated employment. The Employer utilizes a calendar year for the purposes of determining the section 415(c)(1) limit. In the event that the calculation of the Employer Non-Elective 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:

Appears in 1 contract

Samples: core.ac.uk

Time is Money Join Law Insider Premium to draft better contracts faster.