Non-Elective Contributions Sample Clauses
The Non-Elective Contributions clause defines the employer's obligation to make contributions to an employee benefit plan, such as a retirement plan, regardless of whether employees make their own contributions. Typically, this means the employer will contribute a fixed percentage of each eligible employee's compensation to the plan, even if the employee does not contribute any of their own salary. This clause ensures that employees receive a guaranteed benefit from the employer, promoting retirement savings and helping the plan meet regulatory requirements for fairness and participation.
Non-Elective Contributions. The maximum amount available to each Elective Contributions (Salary Reduction): The maximum amount available to each Participant for the purchase of elected benefits through salary reduction will be:
Non-Elective Contributions. In-service withdrawals are allowed from a Participant's Non-Elective Contribution Account after years of Participation
Non-Elective Contributions. In lieu of Employer Matching Contributions, the Employer shall make a contribution of 2% of Compensation (Compensation not to exceed the limits described in Section 401(a)(17) of the Code, as adjusted by the Secretary of the Treasury for increases in the cost of living in accordance with Section 401(a)(17) of the Code, or $305,000 for 2022 and $330,000 for 2023) for each Eligible Employee, regardless of whether the Eligible Employee elects to make Elective Deferrals to the Plan.
Non-Elective Contributions. The Employer will make a Non-Elective Contribution equal to 2% of the compensation of each “eligible employee” who makes at least $ (max. $5,000) of Compensation for the year.
Non-Elective Contributions. As of each Anniversary Date, the Non-Elective Contributions made by the Employer with respect to the preceding Plan Year, and forfeitures, shall be allocated among the Employer Accounts of Participants during the Plan Year in the manner specified in the Adoption Agreement.
Non-Elective Contributions. In lieu of employer matching contributions, the employer shall make a contribution of 2% of Compensation for each eligible employee, regardless of whether the eligible employee elects to make elective deferrals to the Plan.
Non-Elective Contributions. (Benefits-Eligible (Permanent) Employees, except members of POA and IAFF bargaining groups)
Non-Elective Contributions. If elected in the Adoption Agreement by the Sponsoring Employer, the Employer will contribute a Non-Elective Contribution of 2% of Compensation for the full calendar Year for each Eligible Employee who received at least $5,000 of Compensation from the Employer for the Year, or such lesser amount of Compensation as elected in the Adoption Agreement.
Non-Elective Contributions. Employer agrees to make a non-elective employer contribution for the amount the Eligible Employee is entitled to for payment of earned unused vacation pay and sick leave pursuant to Sections 11.12, I 1.13, 14.2(f), 14.2(h), 14.7 and 14.9 of the collective bargaining agreement. The employer contribution will be processed and remitted within 30 days of the employee's separation from employment. Such contributions will be made to a 403(b) program able to accept employer contributions as defined in the Internal Revenue Code.
Non-Elective Contributions. Non-Elective Contributions are not currently permitted.