Money Purchase Pension Contributions Sample Clauses

Money Purchase Pension Contributions. If Metavante has not ------------------------------------ established the Metavante Retirement Plan effective for the plan year beginning January 1, 2001, money purchase pension contributions shall be made by Metavante to the M&I Retirement Program for the plan year ending December 31, 2001 in the amount required under Plan terms based on compensation paid to Metavante Employees from January 1, 2001 through, but not after, the Distribution Date (or such earlier date agreed to pursuant to Section 3.1). Such contributions shall be made with respect to Metavante Employees who remain in Metavante's employ on December 31, 2001 (or retire, die or become disabled during calendar year 2001) and who are eligible under Plan terms taking into account employment with Metavante after the Distribution Date (or such earlier date agreed to pursuant to Section 3.1); provided, however, that if M&I determines that such contributions must also be made to persons who were Metavante Employees on the Distribution Date (or such earlier date agreed to pursuant to Section 3.1) who are not highly compensated employees within the meaning of Code Section 414(q) and who terminate from Metavante prior to December 31, 2001 in order to preserve the tax qualified status of the M&I Retirement Program, contributions shall also be made for such individuals. Such contributions shall be made at a time to be determined by M&I which is on or before September 15, 2002. Upon receipt of such amounts by the M&I trust, the trustee shall immediately transfer them in cash to the Metavante trust where they shall be held in the accounts of Metavante Employees along with other monies transferred pursuant to Section 3.2. M&I and Metavante shall cooperate with one another and with the trustee in facilitating such transfer of final contributions.
Sample 1
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Related to Money Purchase Pension Contributions

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

  • 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.

  • 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).

  • 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.

  • Rollover Contributions An amount which qualifies as a rollover contribution pursuant to the Federal Internal Revenue Code may be transferred to and paid under this contract as a contribution for a Participant. Prudential may require proof that the amount paid so qualifies.

  • ALLOCATION OF CONTRIBUTIONS If the application is in good order, the initial Contribution will be applied within two Business Days of receipt at the Retirement Resource Operations Center. During the right to cancel period, all Contributions will be allocated in one or more of the Sub-Account(s) as specified in the application. During the right to cancel period, the Owner may change the allocations to the Sub-Accounts. Subsequent Contributions will be allocated to the Annuity Account in the proportion Requested by the Owner. If there are no accompanying instructions, then allocations will be made in accordance with standing instructions. Allocations will be effective upon the Transaction Date.

  • 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.

  • 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.

  • 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.

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