Limitations on Tax-Efficient Savings Contributions Applicable to Highly Compensated Employees Sample Clauses

Limitations on Tax-Efficient Savings Contributions Applicable to Highly Compensated Employees. For each employee who is a highly compensated employee for the year the total amount of Tax-Efficient Savings Contributions available shall not exceed the percent of the employee's wages and profit sharing distributions for the year determined as follows. There first shall be determined, under the following table, an average allowable tax-efficient savings percentage, for the eligible employees who are not highly compensated employees for the year as a group.
Sample 1
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Limitations on Tax-Efficient Savings Contributions Applicable to Highly Compensated Employees. For each employee who is a highly compensated employee for the year the total amount of Tax-Efficient Savings Contributions available shall not exceed the percent of the employee's wages and profit sharing distributions for the year determined as follows. There first shall be determined, under the following table, an average allowable tax-efficient savings percentage, for the eligible employees who are not highly compensated employees for the year as a group. If the average of the The allowable average Tax- actual Tax-Efficient Efficient Savings Savings Contribution Contribution percentage for percentages of eligible eligible employees who are employees who are not highly compensated highly compensated employees shall not exceed: employees for the preceding Plan Year (or if the Company elects in accordance with Section 401(k)(3)(A) of the Internal Revenue Code, including such changes in election as many be permitted by the Secretary of Treasury, the current Plan Year) is: ________________________________ ___________________________ FORD MOTOR COMPANY TAX-EFFICIENT SAVINGS PLAN FOR HOURLY EMPLOYEES
Sample 1

Related to Limitations on Tax-Efficient Savings Contributions Applicable to Highly Compensated Employees

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

  • 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.

  • 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.

  • Catch-Up Contributions Unless otherwise elected in Section 2.4 of this amendment, all employees who are eligible to make elective deferrals under this plan and who have attained age 50 before the close of the plan year shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code. Such catch-up contributions shall not be taken into account for purposes of the provisions of the plan implementing the required limitations of Sections 402(g) and 415 of the Code. The plan shall not be treated as failing to satisfy the provisions of the plan implementing the requirements of Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of the making of such catch-up contributions.

  • PARTICIPANT NONDEDUCTIBLE CONTRIBUTIONS The Plan: (Choose (a) or (b); (c) is available only with (b)) [X] (a) Does not permit Participant nondeductible contributions. [ ] (b) Permits Participant nondeductible contributions, pursuant to Section 14.04 of the Plan.

  • EMPLOYEE CONTRIBUTIONS [X] (a) Participants shall be permitted to make Elective Deferrals in any amount from 1 % up to 15 % of their Compensation. If (a) is applicable, Participants shall be permitted to amend their Salary Savings Agreements to change the contribution percentage as provided below:

  • 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.

  • Employer Profit Sharing Contributions An Employee will be eligible to become a Participant in the Plan for purposes of receiving an allocation of any Employer Profit Sharing Contribution made pursuant to Section 10 of the Adoption Agreement after completing ________ (enter 0, 1, 2 or any fraction less than 2)

  • Employer Contributions If Employer contributions are permitted, complete (a) and/or (b). Otherwise complete (c).

  • Qualified Nonelective Contributions If the Employer, at the time of contribution, designates a contribution to be a qualified nonelective contribution for the Plan Year, the Advisory Committee will allocate that qualified nonelective contribution to the Qualified Nonelective Contributions Account of each Participant eligible for an allocation of that designated contribution, as specified in Section 3.04 of the Employer's Adoption Agreement. The Advisory Committee will make the allocation to each eligible Participant's Account in the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all eligible Participants for the Plan Year. The Advisory Committee will determine a Participant's Compensation in accordance with the general definition of Compensation under Section 1.12 of the Plan, as modified by the Employer in Sections 1.12 and 3.06 of its Adoption Agreement.

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