Employer Discretionary Contributions. The Employer reserves the right to make discretionary contributions to some or all Participants’ Accounts in such amount and in such manner as may be determined by the Employer. Such Employer Discretionary Contribution, at the option of the Employer, in accounts established by the Administrator. The Employer, in its sole discretion, may determine which account will be credited with each Employer Discretionary Contribution. In the event the Employer does not designate which Participant account shall be credited, such Employer Discretionary Contributions shall be credited to the Participant’s Retirement account. Employer Discretionary Contributions, if any, shall be credited to a Participant’s Account, and if applicable transferred to the Trust, at such time as the Employer shall determine.
Appears in 5 contracts
Samples: Uwharrie Capital Corp, Supplemental Retirement Plan Agreement (Uwharrie Capital Corp), Supplemental Retirement Plan Agreement (Uwharrie Capital Corp)
