Federal Contribution Limits Sample Clauses

Federal Contribution Limits. TSA Contributions are subject to annual limits determined under Internal Revenue Code (IRC) sec 402(g) and 415(c). In 2020, your limit is $19,500 (or 100% of UWHC Authority compensation if less). If you will be age 50 or older in 2020, you may contribute an additional $6,500. The IRS publishes the limits in the last quarter of the year for the next year. Your TSA limit is reduced dollar for dollar by any voluntary contribution you make to another 403(b), 401(k), Federal Thrift Savings, salary reduction SEP or SIMPLE plan. Contributions to a 457 (Deferred Compensation) plan or to a traditional or Xxxx XXX do NOT affect your TSA limit.
Sample 1
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Federal Contribution Limits. TSA contributions are subject to annual limits determined under Internal Revenue Code (IRC) sec. 402(g) and 415(c). In 2020, the limit is $19,500 (or 100% of UW compensation, if less). If you are age 50 or older in 2020, you may contribute an additional the year for the following year. If you have 15 years of UW employment, you may be eligible to contribute a further $3,000: ask your human resources office about this option; not everyone with 15 years of service is eligible. The website xxx.xxxxxxxxx.xxx/xxxxx/xxxxxxxx/xxx/xxx/#xxxxxx also lists annual limits. Your UW TSA limit is reduced dollar for dollar by any contribution you make to another 403(b), 401(k), Federal Thrift Savings, salary reduction SEP, or SIMPLE plan. If you own more than 50% of a business, retirement contributions made on your behalf by that business must be aggregated with your UW TSA contributions toward the 415(c) limit – $57,000 in 2020. Please contact TSA staff at xxxxx@xxxx.xxx to be sure you have not exceeded IRS contribution limits. Contributions to a 457 (Deferred Compensation) plan or to a traditional or Xxxx XXX do NOT affect your TSA limit.
Sample 1
Federal Contribution Limits. Contributions are subject to annual limits determined under Internal Revenue Code (IRC) sec. 402(g) and 415(c). To learn about this year's Federal Contribution Limits, go to xxx.xxxxxxxxxxx.xxx/xxxxxx. These limits may be indexed annually in $500 increments based on the Consumer Price Index. The IRS publishes the limits in the last quarter of the year for the following year. If you have 15 years of employment with your current employer, you may be eligible to contribute an additional $3,000: contact PlanConnect to determine if you are eligible. Your contribution limit is reduced dollar for dollar by any voluntary contribution you make to another 403(b), 401(k), Federal Thrift Savings, salary reduction SEP, or SIMPLE plan. Contributions to a 457 (Deferred Compensation) plan or to a traditional or Xxxx XXX do NOT affect this limit.
Sample 1
Federal Contribution Limits. TSA contributions are subject to annual limits determined under Internal Revenue Code (IRC) sec. 402(g) and 415(c). In 2016, your limit is $18,000 (or 100% of UW compensation, if less). If you are age 50 or older in 2016, you may contribute an additional $6,000. The limits may be indexed annually in $500 increments based on the Consumer Price Index. The IRS publishes the limits in the last quarter of the year for the following year. If you have 15 years of UW employment, you may be eligible to contribute a further $3,000: ask your staff benefits office about this option; not everyone with 15 years of service is eligible. The website xxx.xxxxxxxxx.xxx/xxxxx/xxxxxxxx/xxx/xxx/#xxxxxx also lists annual limits. Your UW TSA limit is reduced dollar for dollar by any contribution you make to another 403(b), 401(k), Federal Thrift Savings, salary reduction SEP, or SIMPLE plan. If you own more than 50% of a business, retirement contributions made on your behalf by that business must be aggregated with your UW TSA contributions toward the 415(c) limit – $53,000 in 2016. Please contact the TSA Plan Administrator xxxxxxxxxxx@xxxx.xxx to be sure you have not exceeded IRS contribution limits. Contributions to a 457 (Deferred Compensation) plan or to a traditional or Xxxx XXX do NOT affect your TSA limit.
Sample 1
Federal Contribution Limits. Contributions are subject to annual limits determined under Internal Revenue Code (IRC) sec. 402(g) and 415(c). To learn more about this year's Federal Contribution Limits, go to xxxx://xxx.xxxxxxxxxxx.xxx/limits. These limits may be indexed annually based on the Consumer Price Index. The IRS publishes the limits in the last quarter of the year for the following year. If you have 15 years of employment with your current employer, you may be eligible to contribute an additional $3,000: contact PlanConnect to determine if you are eligible. Your contribution limit is reduced dollar for dollar by any voluntary contribution you make to another 403(b), 401(k), Federal Thrift Savings, salary reduction SEP, or SIMPLE plan. Contributions to a 457 (Deferred Compensation) plan or to a traditional or Xxxx XXX do NOT affect your contribution limit. To learn more about the different types of contributions go to xxxxx://xxx.xxx.xxx/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-Contributions.
Sample 1
Federal Contribution Limits. Contributions are subject to annual limits determined under IRC sections 402(g) and 415(c). The contribution limit is reduced dollar for dollar by any voluntary contribution made to another 403(b), Xxxx 403(b), 401(k), Federal Thrift Savings, salary reduction SEP, or SIMPLE plan. Contributions to a 457(b) plan or to a traditional or Xxxx XXX do not affect the limit. Over-contributions may result in tax penalties. Employees are responsible for the tax consequences of authorizing any salary reduction that exceeds the amounts allowed by law. Employees must monitor annual salary reductions to ensure that they are in compliance with the IRC provisions and bring any over-contributions or changes in employment status to the attention of the University’s benefits office. The University reserves the right to adjust and/or discontinue reductions to comply with various IRC contribution limitations.
Sample 1
Federal Contribution Limits. TSA contributions are subject to annual limits determined under Internal Revenue Code (IRC) sec. 402(g) and 415 (c). In 2014, your limit is $17,500 (or 100% of UW compensation, if less). If you are age 50 or older in 2014, you may contribute an additional $5,500. The limits may be indexed annually in $500 increments based on the Consumer Price Index. The IRS publishes the limits in the last quarter of the year for the following year. If you have 15 years of UW employment, you may be eligible to contribute a further $3,000: ask your staff benefits office about this option; not everyone with 15 years of service is eligible. The website xxxx://xxx.xxxx.xxx/ohrwd/benefits/ret/tsa/#limits also lists annual limits. Your TSA limit is reduced dollar for dollar by any voluntary contribution you make to another 403(b), 401(k), Federal Thrift Savings, salary reduction SEP, or SIMPLE plan. Contributions to a 457 (Deferred Compensation) plan or to a traditional or Xxxx XXX do NOT affect your TSA limit.
Sample 1
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Related to Federal Contribution Limits

  • Defined Contribution Plans The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined contribution plan" (as defined in Section 3(34) of ERISA), whether or not terminated.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04. PART I. [OPTIONS (a) THROUGH (d)].

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Organizational Contributions In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial Capital Contribution to the Partnership in the amount of $20.00, for a 2% General Partner Interest in the Partnership and has been admitted as the General Partner of the Partnership, and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $980 for a 98% Limited Partner Interest in the Partnership and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, the interest of the Organizational Limited Partner shall be redeemed; and the initial Capital Contribution of the Organizational Limited Partner shall thereupon be refunded. Ninety-eight percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contributions shall be allocated and distributed to the Organizational Limited Partner, and the balance thereof shall be allocated and distributed to the General Partner.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • 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.

  • Third Party Administrators for Defined Contribution Plans 2.1 The Fund may decide to make available to certain of its customers, a qualified plan program (the “Program”) pursuant to which the customers (“Employers”) may adopt certain plans of deferred compensation (“Plan or Plans”) for the benefit of the individual Plan participant (the “Plan Participant”), such Plan(s) being qualified under Section 401(a) of the Code and administered by TPAs which may be plan administrators as defined in the Employee Retirement Income Security Act of 1974, as amended. 2.2 In accordance with the procedures established in Schedule 2.1 entitled “Third Party Administrator Procedures,” as may be amended by the Transfer Agent and the Fund from time to time (“Schedule 2.1”), the Transfer Agent shall: (a) Treat Shareholder accounts established by the Plans in the name of the Trustees, Plans or TPAs, as the case may be, as omnibus accounts; (b) Maintain omnibus accounts on its records in the name of the TPA or its designee as the Trustee for the benefit of the Plan; and (c) Perform all Services under Section 1 as transfer agent of the Funds and not as a record-keeper for the Plans. 2.3 Transactions identified under Sections 1 and 2 of this Agreement shall be deemed exception services (“Exception Services”) when such transactions: (a) Require the Transfer Agent to use methods and procedures other than those usually employed by the Transfer Agent to perform transfer agency and recordkeeping services; (b) Involve the provision of information to the Transfer Agent after the commencement of the nightly processing cycle of the TA2000 System; or (c) Require more manual intervention by the Transfer Agent, either in the entry of data or in the modification or amendment of reports generated by the TA2000 System, than is normally required.

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

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