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Common use of Limits on Elective Deferrals Clause in Contracts

Limits on Elective Deferrals. If Elective Deferrals are permitted under the Plan, a Contributing Participant may elect under a salary reduction agreement to have his or her Compensation reduced by an amount as described below (Choose one): Option 1: [X] An amount equal to a percentage of the Contributing Participant's Compensation from 1 % to 15% in increments of 1%. Option 2: [ ] An amount of the Contributing Participant's Compensation not less than _______ and not more than ______________ The amount of such reduction shall be contributed to the Plan by the Employer on behalf of the Contributing Participant. For any taxable year, a Contributing Participant's Elective Deferrals shall not exceed the limit contained in Section 402(g) of the Code in effect at the beginning of such taxable year.

Appears in 1 contract

Samples: Basic Plan Document (Edelbrock Corp)

Limits on Elective Deferrals. If Elective Deferrals are permitted under the Plan, a Contributing Participant may elect under a salary reduction agreement to have his or her Compensation reduced by an amount as described below (Choose one): Option 1: [X] An amount equal to a percentage of the Contributing Participant's Compensation from 1 % to 1515 % in - -- increments of 11 %.. - Option 2: [ [_] An amount of the Contributing Participant's Compensation not less than _______ and not more than ______________ . The amount of such reduction shall be contributed to the Plan by the Employer on behalf of the Contributing Participant. For any taxable year, a Contributing Participant's Elective Deferrals shall not exceed the limit contained in Section 402(g) of the Code in effect at the beginning of such taxable year.

Appears in 1 contract

Samples: Flexible Nonstandardized Safe Harbor 401(k) Profit Sharing Plan Adoption Agreement (Nabi /De/)

Limits on Elective Deferrals. If Elective Deferrals are permitted under the Plan, a Contributing Participant may elect under a salary reduction agreement to have his or her Compensation reduced by an amount as described below (Choose one): Option 1: [X[ ] An amount equal to a percentage of the Contributing Participant's Compensation from 1 _______% to 15_______% in increments of 1_______%. Option 2: [ ] An amount of the Contributing Participant's Compensation not less than _______________ and not more than _______________ . The amount of such reduction shall be contributed to the Plan by the Employer on behalf of the Contributing Participant. For any taxable year, a Contributing Participant's Elective Deferrals shall not exceed the limit contained in Section 402(g) of the Code in effect at the beginning of such taxable year.

Appears in 1 contract

Samples: Flexible Nonstandardized Safe Harbor 401(k) Profit Sharing Plan Adoption Agreement (Tri Continental Corp)

Limits on Elective Deferrals. If Elective Deferrals are permitted under the Plan, a Contributing Participant may elect under a salary reduction agreement to have his or her Compensation reduced by an amount as described below (Choose one): Option 1: [X] An amount equal to a percentage of the Contributing Participant's Compensation from 1 % to 1515 % in - -- increments of 11 %.. - Option 2: [ [_] An amount of the Contributing Participant's Compensation not less than _______ and not more than ______________ than. The amount of such reduction shall be contributed to the Plan by the Employer on behalf of the Contributing Participant. For any taxable year, a Contributing Participant's Elective Deferrals shall not exceed the limit contained in Section 402(g) of the Code in effect at the beginning of such taxable year.

Appears in 1 contract

Samples: Flexible Nonstandardized Safe Harbor 401(k) Profit Sharing Plan Adoption Agreement (Nabi /De/)

Limits on Elective Deferrals. If Elective Deferrals are permitted under the Plan, a Contributing Participant may elect under a salary reduction agreement to have his or her Compensation reduced by an amount as described below (Choose one):): Option Option 1: [X] ? An amount equal to a percentage of the Contributing Participant's Compensation from 1 % to 15% in increments of 11 %. . Option 2: [ ] ? An amount of the Contributing Participant's Compensation not less than _______ and not more than than______________ . The amount of such reduction shall be contributed to the Plan by the Employer on behalf of the Contributing Participant. For any taxable year, a Contributing Participant's Elective Deferrals shall not exceed the limit contained in Section 402(g) of the Code in effect at the beginning of such taxable year.

Appears in 1 contract

Samples: Flexible Nonstandardized Safe Harbor 401(k) Profit Sharing Plan Adoption Agreement (Equivest Finance Inc)

Limits on Elective Deferrals. If Elective Deferrals are permitted under the Plan, a Contributing Participant may elect under a salary reduction agreement to have his or her Compensation reduced by an amount as described below (Choose one): Option 1: . [X] An amount equal to a percentage of the Contributing Participant's Compensation from 1 1% to 1520% in increments of 1%. Option 2: . [ ] An amount of the Contributing Participant's Compensation not less than $________ and not more than $______________ . The amount of such reduction shall be contributed to the Plan by the Employer on behalf of the Contributing Participant. For any taxable year, a Contributing Participant's Elective Deferrals shall not exceed the limit contained in Section 402(g) of the Code in effect at the beginning of such taxable year.

Appears in 1 contract

Samples: Qualified Retirement Plan (Teardrop Golf Co)

Limits on Elective Deferrals. If Elective Deferrals are permitted under the Plan, a Contributing Participant may elect under a salary reduction agreement to have his or her Compensation reduced by an amount as described below (Choose oneCHOOSE ONE): Option 1: [X] X/ An amount equal to a percentage of the Contributing Participant's Compensation from 1 1% to 1520% in increments of 1%. Option 2: [ ] An amount of the Contributing Participant's Compensation not less than _______ and not more than ______________ . The amount of such reduction shall be contributed to the Plan by the Employer on behalf of the Contributing Participant. For any taxable year, a Contributing Participant's Elective Deferrals shall not exceed the limit contained in Section 402(g) of the Code in effect at the beginning of such taxable year.

Appears in 1 contract

Samples: Flexible Nonstandardized Safe Harbor 401(k) Profit Sharing Plan Adoption Agreement (Perficient Inc)