Discretionary Employer Contributions Sample Clauses

Discretionary Employer Contributions. The Employer may make Employer Contributions to the accounts of Employee Participants in any amount (which amount may be zero), as determined by the Employer in its sole discretion from time to time in a writing, which is hereby incorporated herein.
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Discretionary Employer Contributions. If so provided by the Employer in Sections 1.05(a)(1), for the Plan Year in which the Plan is adopted and for each Plan Year thereafter, the Employer may make Discretionary Employer Contributions to the Trust in accordance with Section 1.05 to be allocated among eligible Participants, in the ratio that each Participant's Compensation bears to the total Compensation paid to all eligible Participants for the Plan Year.
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Discretionary Employer Contributions. The Employer may make discretionary credits to the Deferred Compensation Account of each Active Participant in an amount determined each Plan Year by the Employer. ☐ (i) Immediate 100% vesting. ☒ (ii) Number of Years of Service Vested Percentage Less than1 1 2 3 4 5 6 7 8 9 10 or more 0 % 0 % 0 % 100 % ______ % ______ % ______ % ______ % ______ % ______ % ______ % For this purpose, Years of Service of a Participant shall be calculated from the date designated below: (1) First day the Participant begins to provide services to the Employer and all Participating Employers (2) Each Crediting Date. Under this option (2), each Employer Credit shall vest based on the Years of Service of a Participant from the Crediting Date on which each Employer Discretionary Credit is made to the Deferred Compensation Account. Further, an Active Participant shall be fully vested in ALL Employer Credits, as noted above, upon the first to occur of the following events: (a) Full Vesting Age (as defined in Section 2.20 of the Plan) shall mean age 65 or age 55 with 10
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Discretionary Employer Contributions. The Employer shall have the discretion to make Employer Contributions to the Plan with respect to any Plan Year on behalf of any Participant. Employer Contributions shall be made in the complete and sole discretion of the Employer and no Participant shall have the right to receive any Employer Contribution regardless of whether Employer Contributions are made on behalf of any other Participant.
Sample 1
Discretionary Employer Contributions. The Employer may contribute to the Participant's Account an amount which has been allocated according to the allocation method specified in the Employer Affiliation Agreement which allocation shall be nondiscriminatory within the meaning of Section 403(b)(1) of the Code. Such Employer's Contributions shall be subject to the following limitations: (A) Payment. Employer Contributions made under this Agreement must be paid to the Custodian in one or more installments not later than December 31 of each calendar year. (B) Nonforfeitable. Such Employer Contributions shall be fully vested and nonforfeitable when made to the Participant's Account.
Sample 1
Discretionary Employer Contributions. ☒ The Employer may make Discretionary Employer Contributions to the Plan in an amount or percentage as determined by the Company. Discretionary Employer Contributions will be made on behalf of all Participants who satisfy one or more of the following requirements: ☐ no requirements ☐ are Non-Highly Compensated Employees ☐ complete 1,000 Hours of Employment during the Plan Year ☐ complete 501 Hours of Employment during the Plan Year ☐ complete _________ (not to exceed 1,000) Hours of Employment during the Plan Year ☐ are in the employ of the Employer on the last day of the Plan Year ☒ terminate employment on or after Early (if applicable) or Normal Retirement Date ☒ die during the Plan Year 14 ☒ become Disabled during the Plan Year (if the Plan provides a Disability Retirement Date definition) ☐ are in the employ of the Employer on the last day of the Plan Year or complete ________ (not to exceed 1,000) Hours of Employment during the Plan Year ☒ other: are in the employ of the Employer on the last day of the Plan Year and complete 1,000 Hours of Employment during the Plan Year ☒ Discretionary Employer Contributions shall be determined in accordance with the following: ☒ a. Non-integrated formula – The amount of contribution shall be allocated to each eligible Participant: ☒ in the ratio that each eligible Participant’s Compensation bears to the Compensation of all eligible Participants for the Plan Year ☐ other (specify method of determining contribution that does not discriminate in favor of Highly Compensated Employees (e.g., same dollar amount per Hour of Employment)) ___________________ ☐ b. Integrated formula – Contributions will be allocated in accordance with Section 4.10(b) of the Basic Plan Document. The Integration Level shall be equal to: ☐ The Taxable Wage Base in effect under Section 230 of the Social Security Act at the beginning of the Plan Year ☐ $________________ (a dollar amount less than the Taxable Wage Base ☐ ___% (not to exceed 100%) of the Taxable Wage Base ☐ c. Uniform points allocation formula – Each eligible Participant shall receive ________________ points for each (must select at least age or service) _______ years of age, ____________ Years of Vesting Service. In addition, an eligible Participant shall receive points for each dollar (not to exceed $200) of Compensation. Each Participant’s allocation shall bear the same relationship to all contributions as his or her total points bears to all points awarded. ☐ d. Uniform age-weig...
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Discretionary Employer Contributions 
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Related to Discretionary Employer Contributions

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Employer Contributions 16.01 Employer contributions shown in the tables in the attached appendices shall be made on all hours of work performed which are included in computing the eight (8) hours per day and forty (40) hours per week after which overtime is payable and shall be recorded on a standard remittance report provided by the Union and remitted on or before the fifteenth (15th) day of the month following the month for which contributions are due and payable, to the Trust Funds. Hours of work performed are interpreted to mean daily travel time, daily working time, reporting time, and, if the employee is required to perform a welding test, testing time. Contributions for overtime hours will be calculated as straight time hours. The Employer shall provide each employee covered by this Agreement with a statement with each weekly paycheque stating the total number of hours reported for contributions to the Pension and Health & Welfare Funds on behalf of that employee for the period covered by the paycheque. 16.02 All such funds due and payable to the above funds shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds are not wages or benefits due to an employee and industry promotion funds are deemed to be dues for services rendered by the Association. 16.03 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Fund, including provisions for an audit, security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds as liquidated damages, and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 16.04 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 16.05 The Employer shall not be required to make additional contributions or payments to any Industry Funds established by the Union or its Local Unions nor to any such funds established by Provincial or Territorial Government orders, regulations, or decrees for the purpose of providing similar benefits, it being understood and agreed that the contributions for herein, or any portions thereof shall be deemed to be in lieu of and/or shall be applied as payments to such funds. This provision shall not be applicable to any national funds or plans having general application and established by an Act of the Government of Canada. 16.06 In the Province of Ontario, the Trustees/Administrator of the employee benefit funds referred to in this Agreement shall promptly notify the Local Union of the failure by any Employer to pay any employee benefit contributions required to be made under this Agreement and which are owed under the said funds in order that the Program Administrator of the Ontario Employee Wage Protection Program may deem that there has been an assignment of compensation under the said Program in compliance with the Regulations to the Ontario Employment Standards Amendment Act, 1991, in relation to the Ontario Employee Wage Protection Program. 16.07 The parties hereto agree that contribution rates for the trust funds listed herein do not include any Provincial or Federal taxes.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Voluntary Employee Contributions (a) Subject to the governing rules of the relevant superannuation fund, an Employee may, in writing, authorise their Employer to pay on behalf of the Employee a specified amount from the post- taxation wages of the Employee into the same superannuation fund as the Employer makes the superannuation contributions provided for in clause 24.2. (b) An Employee may adjust the amount the Employee has authorised their Employer to pay from the wages of the Employee from the first of the month following the giving of three months’ written notice to their Employer. (c) The Employer must pay the amount authorised under clauses 24.4(a) or 24.4(b) no later than 28 days after the end of the month in which the deduction authorised under clauses 24.4(a) or 24.4(b) was made.

  • Rollover Contributions An amount which qualifies as a rollover contribution pursuant to the Federal Internal Revenue Code may be transferred to and paid under this contract as a contribution for a Participant. Prudential may require proof that the amount paid so qualifies.

  • Participant Contributions If Participant contributions are permitted, complete (a), (b), and (c). Otherwise complete (d).

  • Elective Deferrals Any Employer contributions made to the Plan at the election of the Participant, in lieu of cash compensation, and shall include contributions made pursuant to a salary reduction agreement or other deferral mechanism. With respect to any taxable year, a Participant's Elective Deferral is the sum of all employer contributions made on behalf of such Participant pursuant to an election to defer under any qualified cash or deferred arrangement as described in section 401(k) of the Code, any salary reduction simplified employee pension described in section 408(k)(6), any SIMPLE IRA Plan described in §408(p), , any plan as described under section 501(c)(18), and any employer contributions made on the behalf of a Participant for the purchase of an annuity contract under section 403(b) pursuant to a salary reduction agreement. Elective Deferrals shall not include any deferrals properly distributed as excess annual addition. For years beginning after 2005, the term “elective Deferrals” includes Pre-tax Elective Deferrals and Xxxx Elective Deferrals. Pre-tax Elective Deferrals are a participant’s Elective Deferrals that are not includible in the participant’s gross income at the time deferred. The Employer may, if notification is made within a reasonable time and in a manner described in IRS Revenue Ruling 2000-8, 2000-7 IRB617, allow for negative elections. If such administrative provision applies and the Employee does not affirmatively elect to not participate and the Employee does not affirmatively elect a different amount (including no amount), a default amount shall be deducted from the Employee’s Compensation. Such default amount shall be part of the initial notification received by the Employer. If negative elections apply under the Plan, the Employer shall indicate whether the default shall be a pre-tax Elective Deferral or a Xxxx Elective Deferral in the Adoption Agreement.

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Company Contributions 33.1.1 The Company will make contributions on the Employee’s behalf to a complying superannuation fund which meets the Company’s statutory obligations under applicable superannuation legislation.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

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