Common use of Current Participants Clause in Contracts

Current Participants. Current Participants who are deferring at a percentage less than the amount selected herein 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

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

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Current Participants. Current Participants who are deferring at a percentage less than the amount selected herein 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

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

Current Participants. Current Participants who are deferring at a percentage less than the amount selected herein 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

Samples: Nonstandardized Adoption Agreement (First Northwest Bancorp)

Current Participants. Current Participants who are deferring at a percentage less than the amount selected herein 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

Samples: Adoption Agreement (Sterling Chemicals Inc)

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Current Participants. Current Participants who are deferring at a percentage less than the amount selected herein 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

Samples: Nonstandardized Adoption Agreement (United Community Bancorp)

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