Employee Deferrals. Section 403(b)
Employee Deferrals. Employee salary deferrals may not exceed the lesser of 100% of your compensation or $12,000 for 2014 and $12,500 for 2015. If you are age 50 or older by the close of the plan year, you may make an additional contribution to your SIMPLE XXX. The maximum additional contribution is $2,500 for 2014 and $3,000 for 2015. The maximum employee salary deferral amounts listed above will be increased annually to reflect cost-of-living adjustments, if any.
Employee Deferrals. Qualified bargaining unit employees have the option of making pre- tax XXX contributions and/or after tax (Xxxx) contributions to the fund through voluntary payroll deductions.
Employee Deferrals. Regular employee salary deferral contribution may not exceed the lesser of 100% of your compensation or $14,000 for 2022 ($15,500 for 2023) with possible cost-of-living adjustments each year thereafter. If you will be age 50 or older by the close of the plan year, you may make an additional catch-up deferral contribution to your SIMPLE IRA. The maximum standard catch-up deferral contribution is $3,000 for 2022 ($3,500 for 2023 with possible cost-of-living adjustments each year thereafter. For taxable years beginning after December 31, 2024, in a tax year you attain age 60, 61, 62 and 63 years of age, you qualify for a higher catch-up deferral contribution equal to the greater of $10,000 or 50% more than the maximum allowed as a standard catch-up deferral contribution for the applicable year. Employer Contributions. There are two types of employer contributions: matching and nonelective employer contributions. Your employer will notify you each year of the contribution type and amount. If your employer elects matching contributions, your employer will match your deferrals up to the applicable percentage of your compensation. If your employer intends to make a matching contribution for the coming year, your employer is required to provide notice to you prior to the beginning of the plan year as to what the applicable percentage will be for the upcoming plan year.
Employee Deferrals. Commencing on the Effective Date, and continuing through the date on which the Employee's employment terminates because of his death, retirement, disability, or any other cause, the Employee and the Corporation agree that the Employee shall defer into his Retirement Account the amount set forth in the Election of Deferral, which the Employee would otherwise be entitled to receive from the Corporation in each Fiscal Year of the Corporation.
Employee Deferrals. Employee salary deferrals may not exceed the lesser of 100% of your compensation or $13,500 for 2020 and 2021. If you are age 50 or older by the close of the plan year, you may make an additional contribution to your SIMPLE IRA. The maximum additional contribution is $3,000 for 2020 and 2021. The maximum employee salary deferral amounts listed above will be increased annually to reflect cost-of-living adjustments, if any.
Employee Deferrals. Employees will be permitted to defer earnings on a tax deferred basis up to the IRS minimum.
Employee Deferrals. Section 403(b) Xxxx After-tax Deferral Election. I hereby authorize the School District of Waupaca ("District") to withhold $ (whole dollar amount) from my compensation per pay period. The Salary Reduction and Allocation Agreement shall take effect as soon as permitted under the Plan and as soon as administratively feasible. Allocations may only be made to vendors approved by the plan. Contact the District for a list of approved vendors. The District shall remit the withheld funds to the following Vendor(s) that I have selected: Company Name (District Approved Vendor) Account Number Fixed Amount
3. {00006727.DOC} School District of Waupaca Salary Reduction Agreement
