Common use of Deductible Employee Contributions Clause in Contracts

Deductible Employee Contributions. The Plan Administrator will not accept deductible employee contributions that are made for a taxable year beginning after December 31, 1986. Contributions made prior to that date will be maintained in a separate Account which will be nonforfeitable at all times. The Account will share in the gains and losses under the Plan in the same manner as described in Section 13.4. No part of the deductible voluntary contribution Account will be used to purchase life insurance. Subject to the Joint and Survivor Annuity requirements under Article 9 (if applicable), the Participant may withdraw any part of the deductible voluntary contribution Account by making a written application to the Plan Administrator.

Appears in 3 contracts

Samples: Defined Contribution Prototype Plan and Trust Agreement (Mercantile Bancorp, Inc.), Defined Contribution Plan and Trust (National Penn Bancshares Inc), Profit Sharing/401(k) Prototype Plan and Trust (Capital Corp of the West)

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Deductible Employee Contributions. The Plan Administrator will not accept deductible employee contributions that are made for a taxable year beginning after December 31, 1986. Contributions made prior to that date will be maintained in a separate Account which will be nonforfeitable at all times. The Account will share in the gains and losses under the Plan in the same manner as described in Section 13.410.03(d). No part of the deductible voluntary contribution Account will be used to purchase life insurance. Subject to the Joint and Survivor Annuity requirements under Article 9 (if applicable), the The Participant may withdraw any part of the deductible voluntary contribution Account by making a written application to the Plan Administrator.

Appears in 1 contract

Samples: Governmental Nonstandardized Defined Contribution Plan

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Deductible Employee Contributions. The Plan Administrator will not accept deductible employee contributions Deductible Employee Contributions that are made for a taxable year beginning after December 31, 1986. Contributions made prior to before that date will be maintained in a separate Account account, which will be nonforfeitable at all times. The Account account will share in the gains and losses under of the Plan Fund in the same manner as described in Plan Section 13.47.02(B). No part of the deductible voluntary contribution Account Deductible Employee Contributions account will be used to purchase life insurance. Subject to the Joint and Survivor Annuity requirements under Article 9 Plan Section 5.10 (if applicable), the Participant may withdraw any part of the deductible voluntary contribution Account Deductible Employee Contribution account by making a written application to the Plan Administrator.

Appears in 1 contract

Samples: Comprehensive 401(k) Profit Sharing Plan Nonstandardized Adoption Agreement (Kimball Electronics, Inc.)

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