Contribution to the Plan Clause Samples
The 'Contribution to the Plan' clause defines the obligations and procedures for making contributions to a specific plan, such as a retirement or employee benefit plan. It typically outlines who is responsible for making contributions (e.g., employer, employee), the timing and method of payments, and any limits or conditions that apply. For example, it may specify that contributions must be made monthly and detail how missed payments are handled. This clause ensures that the plan is properly funded and that all parties understand their financial responsibilities, thereby supporting the plan's long-term viability and compliance with legal requirements.
Contribution to the Plan. Subject to the limitations under Article 5, paragraph (2) above and paragraph (b) below, the Employer shall so reduce the Participant’s Annual Earnings and shall contribute to the Plan on behalf of each such Participant an amount equal to the reduction in the Participant’s Annual Earnings. Such contribution shall be credited to the Participant’s Section 401(k) Contribution Account. Such contributions shall be made as soon as the Employer can reasonably segregate such amounts, but not later than the 15th business day of the month following the month in which such amounts would have otherwise been payable to the Participant. Such contributions for a Plan Year which are made before the end of such Plan Year shall be credited as of the Accounting Date coinciding with or next following the Trustee’s receipt thereof, and such contributions for a Plan Year which are received after the end of such Plan Year shall be credited as of the last Accounting Date of such Plan Year. Such contributions for a Plan Year which are received after the end of such Plan Year, although credited for such Plan Year, shall be posted to Participants’ Accounts as of the Accounting Date coinciding with or next following the Trustee’s receipt of the contributions. Accordingly, such contributions will not be invested and begin receiving earnings or losses until the date they are posted to the Accounts.
Contribution to the Plan. (1) The District shall contribute monthly to the Plan on behalf of each participant such amount as the participant may elect, provided such monthly contribution shall be at least twenty-five dollars but not in excess of the participant’s exclusion allowance.
(2) Contributions by the District with respect to any participant shall be by means of a reduction in the unit member’s compensation otherwise payable under the unit member’s employment contract, the amount of the reduction being set forth in such participant’s amendment to the unit member’s employment contract upon his election to participate in the plan. Such reduction shall only be with respect to services to be rendered by the participant to the District subsequent to the date of the participant’s election to participate.
(3) A participant’s “exclusion allowance” shall be described in pertinent Federal and State laws and regulation there under.
(4) If for any taxable year of a participant, this plan applied to two or more annuities, such annuities shall be treated as one annuity for purpose of computing the maximum contribution on behalf of such participant by the District.
Contribution to the Plan. Subject to the limits under Article 4 of the Plan and (2) above, the Employer shall reduce the Participant's Compensation (which would otherwise be payable absent such an agreement), or part thereof, by the percentage or amount elected by the Participant in accordance with the terms of the Plan and shall contribute such amounts to the Plan on behalf of such Participant. Such contributions shall be credited to the Participant's Section 401(k) Account. Such contributions shall be made as soon as the Employer can reasonably segregate such amounts, but not later than the 15th business day of the month following the month in which such amounts would have otherwise been payable to the Participant.
Contribution to the Plan. Except as provided in paragraph 6.e below, the Stock Pool will be contributed to the Plan and allocated to the individual accounts ("Employer Contribution Accounts") of Participating Pilots to be invested in the Plan's investment option (the "Plan Stock Fund") that invests primarily in the Company's common stock in accordance with the provisions of this LOA.