Employee Elective Deferral Contributions Sample Clauses

Employee Elective Deferral Contributions. A Participant may agree in writing to reduce the Participant's Compensation by salary reduction agreement and authorize the Employer to contribute such amounts to the Plan on his or her behalf as Employee Elective Deferral Contributions per Section 1.20 of the Basic Plan. A salary reduction agreement or other deferral mechanism may not be adopted retroactively. The maximum Employee Elective Deferral contribution shall be 25% of the Code section 415 Compensation per Section 1.15 of the Basic Plan for the Plan Year, to a maximum of $10,500 as adjusted per Code section 402(g). In addition, in no event will a Participant be entitled to make an Employee Elective Deferral contribution which exceeds 15% of a Participant's applicable Compensation. Upon reasonable advance notice not to exceed 30 days, a Participant may request a resumption, cessation, or an increase or decrease in the amount of Employee Elective Deferral Contributions effective as of the next calendar quarter. In addition to any other election periods provided under the Plan, each Participant may make or modify an election for Employee Elective Deferral Contributions during the 30-day period immediately following receipt of a Safe Harbor Notice in accordance with Section 1.63 of the Basic Plan. The Plan Administrator may suspend the salary reductions of any Participant who is a Highly Compensated Employee if it is deemed necessary to insure that the Plan meets IRS nondiscrimination rules under Code section 401(k) and Code section 401(m).
Sample 1
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Employee Elective Deferral Contributions.  (Pre-Tax)
Sample 1
Employee Elective Deferral Contributions.  (Pre-Tax) Elective Deferrals An Eligible Employee will be permitted to make Elective (Pre-Tax) Deferral Contributions up to a maximum of [insert amount or percentage] of compensation in accordance with the terms of the Plan. Commented [BL11]: Unlimited is the Broadest answer. Check with your payroll provider regarding any limitations  Timing of deferral rate changes (e.g., unlimited or rolling “X” Days (“X” being any number 364 days or less):  Catch-Up Contributions Commented [BL12]: For individuals who are 50 years old or older in 2019, an eligible Participant may reduce their salary for pre-tax Elective Deferrals by an additional $6,000, for a total maximum deferral of $25,000 per year. An Eligible Employee will be permitted to make Catch-up Contributions from compensation in accordance with the terms of the Plan.
Sample 1
Employee Elective Deferral Contributions 
Sample 1

Related to Employee Elective Deferral Contributions

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

  • 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.

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • EMPLOYEE CONTRIBUTIONS (a) Each participant shall be allowed to contribute on a bi-weekly basis up to an amount equal to eighty percent (80%) of the Participant’s wage. Such bi-weekly wage deductions shall be in increments of one percent (1%) and shall be contributed to the Participant’s account. The participant may contribute on a pre-tax, after-tax, Xxxx basis or any combination.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Deferrals If permitted by the Company, the Participant may elect, subject to the terms and conditions of the Plan and any other applicable written plan or procedure adopted by the Company from time to time for purposes of such election, to defer the distribution of all or any portion of the shares of Common Stock that would otherwise be distributed to the Participant hereunder (the “Deferred Shares”), consistent with the requirements of Section 409A of the Code. Upon the vesting of RSUs that have been so deferred, the applicable number of Deferred Shares shall be credited to a bookkeeping account established on the Participant’s behalf (the “Account”). Subject to Section 5 hereof, the number of shares of Common Stock equal to the number of Deferred Shares credited to the Participant’s Account shall be distributed to the Participant in accordance with the terms and conditions of the Plan and the other applicable written plans or procedures of the Company, consistent with the requirements of Section 409A of the Code.

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

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