Nonelective Contributions. For any Year, instead of a matching contribution, we may elect to contribute a nonelective contribution of 2% of Compensation for the full Year for each Eligible Employee. For purposes of the Plan, these contributions shall be Additional Contributions.
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Samples: 401(k) Profit Sharing Plan Adoption Agreement (First Financial Northwest, Inc.), 401(k) Profit Sharing Plan (Community Bancorp)
Nonelective Contributions. For any Year, "year," instead of a matching contribution, we the Employer may elect to contribute a nonelective contribution of two percent (2% %) of Compensation "compensation" for the full Year "year" for each Eligible Employee. For purposes "eligible employee" who received at least $5,000 of "compensation" from the Plan, these contributions shall be Additional ContributionsEmployer for the "year."
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Samples: 401(k) Profit Sharing Plan Adoption Agreement (Wayne Savings Bancshares Inc /De/), Non Standardized 401(k) Profit Sharing Plan (Aceto Corp)
Nonelective Contributions. For any Year, "year," instead of a matching contribution, we the Employer may elect to contribute a nonelective contribution Nonelective Contribution of two percent (2% %) of Compensation "compensation" for the full Year "year" for each Eligible Employee. For purposes "eligible employee" who received at least $5,000 of "compensation" from the Plan, these contributions shall be Additional ContributionsEmployer for the "year."
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