NON-MATCHING CONTRIBUTIONS. The Employer hereby elects to make contributions to the Program without regard to a participant’s contribution to the Program. The Employer elects the following contribution formula (check one): Annual Contributions: A one-time annual contribution of $ or % of compensation per participant. $ or % of compensation per participant for each payroll period.
NON-MATCHING CONTRIBUTIONS. (If non-matching contributions will be made, check box 1 OR box 2.) [NOTE: Any Non-Matching Contribution will reduce, dollar for dollar, the amount a Participant can contribute.]
NON-MATCHING CONTRIBUTIONS. (If Non- Matching Contributions will be made, check box 1 OR box 2 OR box 3. Otherwise, do not complete.) The vested interest of each Participant in his or her Non-Matching Contribution Account shall be determined on the basis of the following schedule: [
NON-MATCHING CONTRIBUTIONS. Non-Matching Contributions in a decimal percentage (of at least 1.00%) of such Participant’s Compensation for each Contribution Period, as elected by the Plan Sponsor in its Adoption Agreement, but subject to any rules made by the Administrator as to amount of Contribution or manner or timing of election;
NON-MATCHING CONTRIBUTIONS. Instead of matching contributions, you may make a non-matching contribution for each employee who meets your plan's eligibility requirements and who actually receives at least $5,000 in pay for the calendar year. The non-matching contribution must be 2% of each eligible employee's pay for the year. For this purpose only, pay is subject to an IRS limit. The limit is $160,000 for 1997; this amount is indexed for future cost-of-living changes. If you want to use the non-matching contributions approach, you must notify eligible employees before the start of the year) see "What do I have to tell employees about the plan?" below). Employer matching or non-matching contributions for an employee must be transferred to the employee's SIMPLE IRA no later than the due date (including any extensions) for filing the employer's federal income tax return for the year. How are Contributions to SIMPLE IRAs Invested? As part of the enrollment process, each eligible employee establishes a SIMPLE IRA using the Xxxxx/Euclid Mutual Funds SIMPLE IRA materials, or the material provided by the SIMPLE IRA vendor of the employee's choosing. Contributions on behalf of each employee participating in the SIMPLE IRA plan are added to his/her SIMPLE IRA. If the employee has chosen to open a Xxxxx/Euclid Mutual Funds SIMPLE IRA, contributions are invested in the Xxxxx/Euclid Mutual Funds available for SIMPLE IRA investments. If the employee has opened his/her SIMPLE IRA through another financial institution, contributions will be invested in the investment options available to that SIMPLE IRA. Investment options available through any SIMPLE IRA are described in the materials given to each employee upon opening his/her IRA. For Xxxxx/Euclid Mutual Funds SIMPLE IRAs, the prospectus for each fund gives important information about its investment objectives and policies and the sales charges or other expenses. Employees should read the fund's prospectus, as well as the other information about the Xxxxx/Euclid Mutual Fund's IRA, before investing. These materials also give the information about procedures for exchanging from one fund to another. Each employee is responsible for deciding how to in-vest contributions to his/her IRA from among the available funds. One advantage of a SIMPLE IRA plan is that interest, divi- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- dends, and other ...
NON-MATCHING CONTRIBUTIONS. (Check box 1
NON-MATCHING CONTRIBUTIONS. (Check box 1
