Common use of Current Employees Clause in Contracts

Current Employees. Employees who are eligible to participate but not deferring shall have Elective Deferrals withheld in the amount of ______ % (not more than 10%) of Compensation or $_________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable]. i. On an annual basis the Elective Deferral rate under the Plan shall be increased up to a maximum amount determined by the Employer. ii. After _____ Years of Service, the amount specified above shall increase to _____% (no more than 10%) or $_______ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

Appears in 2 contracts

Sources: Adoption Agreement (Connecticut Water Service Inc / Ct), Defined Contribution Plan (Savannah Bancorp Inc)

Current Employees. Employees who are eligible to participate but not deferring shall have Elective Deferrals withheld in the amount of ______ % (not more than 10%) of Compensation or $_________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable]. i. On an annual basis the Elective Deferral rate limit under the Plan shall be increased up to a maximum amount determined by the Employer. ii. After _____ Years of Service, the amount specified above shall increase to _____% (no more than 10%) or $_______ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

Appears in 2 contracts

Sources: Adoption Agreement (Connecticut Water Service Inc / Ct), Adoption Agreement (Connecticut Water Service Inc / Ct)

Current Employees. Employees who are eligible to participate but not deferring shall have Elective Deferrals withheld in the amount of ______ ______% (not more than 10%) of Compensation or $_________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable]. i. On an annual basis the Elective Deferral rate limit under the Plan shall be increased up to a maximum amount determined by the Employer. ii. After ___________ Years of Service, the amount specified above shall increase to ___________% (no more than 10%) or $________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

Appears in 1 contract

Sources: Nonstandardized Adoption Agreement (1st Constitution Bancorp)

Current Employees. Employees who are eligible to participate but not deferring shall have Elective Deferrals withheld in the amount of ______ % (not more than 10%) of Compensation or $_________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable]. o i. On an annual basis the Elective Deferral rate under the Plan shall be increased up to a maximum amount determined by the Employer. o ii. After _____ Years of Service, the amount specified above shall increase to _____% (no more than 10%) or $_______ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

Appears in 1 contract

Sources: Nonstandardized Adoption Agreement (First Northwest Bancorp)

Current Employees. Employees who are eligible to participate but not deferring shall have Elective Deferrals withheld in the amount of ______ _% (not more than 10%) of Compensation or $______ [ may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable]. o i. On an annual basis the Elective Deferral limit under the Plan shall be increased up to a maximum amount determined by the Employer. o ii. After ______Years of Service, the amount specified above shall increase to ______% (no more than 10%) or $______ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable]. i. On an annual basis the Elective Deferral rate under the Plan shall be increased up to a maximum amount determined by the Employer. ii. After _____ Years of Service, the amount specified above shall increase to _____% (no more than 10%) or $_______ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

Appears in 1 contract

Sources: Adoption Agreement (Sterling Chemicals Inc)

Current Employees. Employees who are eligible to participate but not deferring shall have Elective Deferrals withheld in the amount of ______ % (not more than 10%) of Compensation or $_________ $ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable]. i. On an annual basis the Elective Deferral rate limit under the Plan shall be increased up to a maximum amount determined by the Employer. ii. After _____ Years of Service, the amount specified above shall increase to _____% (no not more than 10%) or $_______ $ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

Appears in 1 contract

Sources: Defined Contribution Plan (Old Dominion Freight Line Inc/Va)

Current Employees. Employees who are eligible to participate but not deferring shall have Elective Deferrals withheld in the amount of ______ % (not more than 10%) of Compensation or $_________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable]. ¨ i. On an annual basis the Elective Deferral rate under the Plan shall be increased up to a maximum amount determined by the Employer. ¨ ii. After _____ Years of Service, the amount specified above shall increase to _____% (no more than 10%) or $_______ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].

Appears in 1 contract

Sources: Nonstandardized Adoption Agreement (United Community Bancorp)