Participation in Defined Contribution Plan Sample Clauses

Participation in Defined Contribution Plan. Alternatively, the employee may elect to participate in the defined contribution plan. The Employer shall contribute six percent (6.00%) of the employee’s salary to the plan at no cost to the employee. Employees have the option of contributing up to the maximum amount allowable by law. There shall be a rolling 5 year vesting period for employer contributions, provided that all employer contributions shall vest upon the completion of the fifth year and thereafter. Employees electing the defined contribution plan may not elect to participate in the defined benefit plan at a later date.
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Participation in Defined Contribution Plan. Alternatively, the employee may elect to participate in the defined contribution plan. Beginning July 1, 2022, such employees are required to contribute five percent (5%) of base wages into the Defined Contribution plan. The Town shall make a contribution of seven percent (7%) of the employee’s base wages. Employees have the option of contributing additional amounts into the Town’s 457 Plan up to the maximum amount allowable law.
Sample 1
Participation in Defined Contribution Plan. Alternatively, the employee may elect to participate in the defined contribution plan. Beginning July 1, 2022 such employees shall contribute five percent (5%) of their base wages into the Defined Contribution Plan. The Town shall contribute five percent of the employee’s base wages to the Defined Contribution Plan on the employee’s behalf. The Employee may elect to contribute an additional two (2%) percent (for a total of up to seven (7%) of his/her base wages). If an employee elects to do so, the Town shall match the employee’s additional contribution up to an additional two (2%) percent, for up to a possible total of seven (7%) percent. Employees have the option of contributing additional amounts into the Town’s 457 Plan up to the maximum amount allowable law.
Sample 1Sample 2
Participation in Defined Contribution Plan. Participation in Defined Contribution Plan: Alternatively, the employee may elect to participate in the defined contribution plan. Beginning July 1, 2022 such employees shall contribute five percent (5%) of their base wages into the Defined Contribution Plan. The Town shall contribute six percent of the employee’s base wages to the Defined Contribution Plan on the employee’s behalf. If an employee elects to make additional contribution, the Town shall match the employee’s additional contribution up to a total of seven (7%) percent. Employees have the option of contributing additional amounts into the Town’s 457 Plan up to the maximum amount allowable law. There shall be a rolling 5 year vesting period for employer contributions, provided that all employer contributions shall vest upon the completion of the fifth year and thereafter. Employees electing the defined contribution plan may not elect to participate in the defined benefit plan at a later date.
Sample 1
Participation in Defined Contribution Plan. If the Participant is covered by another qualified Defined Contribution Plan maintained by the Company or any of its Affiliates other than a master or prototype plan [ELECT ONE]: ( ) (1) The provisions of Section 7.7 of the Master Plan shall apply as if the other plan were a master or prototype plan. (2) The Annual Additions accrued by the Participant under the Plan for any Limitation Year shall be reduced so that the maximum permissible amount shall not be exceeded for such Limitation Year. After Tax Contributions, then Before Tax Contributions, and then other Company Contributions to the extent necessary, shall be reduced. In the event reduction of the accrual of the Participant's Annual Additions under the Plan is not sufficient to reduce the aggregate Annual Additions for such Limitation Year to the maximum permissible amount, the Annual Additions under such other plan(s) sponsored by the Company or any of its Affiliates shall be reduced for the Limitation Year according to the terms of such plan(s) so that the maximum permissible amount is not exceeded. (3) The Annual Additions accrued by the Participant under such other Defined Contribution Plan(s) sponsored by the Company or any of its Affiliates for a Limitation Year shall be reduced so that the maximum permissible amount shall not be exceeded for the Limitation Year. If further reduction is necessary, the Annual Additions of the Participant under the Plan shall be reduced to the extent required in order that the sum of the Annual Additions under such plan(s) (as adjusted in the preceding sentence) and the Plan shall not exceed the maximum permissible amount. After Tax Contributions, then Before Tax Contributions, and then other Company Contributions to the extent necessary, shall be reduced.
Sample 1
Participation in Defined Contribution Plan. Participation in Defined Contribution Plan: Alternatively, the employee may elect to participate in the defined contribution plan. Beginning July 1, 2022, such employees shall contribute five percent (5%) of their base wages into the Defined Contribution Plan. The Town shall contribute six percent of the employee’s base wages to the Defined Contribution Plan on the employee’s behalf. The Employee may elect to contribute up to seven (7%) of his/her base wages. If an employee elects to do so, the Town shall match the employee’s additional contribution up to a total of seven (7%) percent. Employees have the option of contributing additional amounts into the Town’s 457 Plan up to the maximum amount allowable law. There shall be a rolling 5 year vesting period for employer contributions, provided that all employer contributions shall vest upon the completion of the fifth year and thereafter. Employees electing the defined contribution plan may not elect to participate in the defined benefit plan at a later date.
Sample 1

Related to Participation in Defined Contribution Plan

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

  • Defined Contribution Plans The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined contribution plan" (as defined in Section 3(34) of ERISA), whether or not terminated.

  • Participation in Benefit Plans The Executive shall be eligible to participate in the employee benefit plans and programs maintained by the Company from time to time for its executives, or for its employees generally, including without limitation any life, medical, dental, accidental and disability insurance and profit sharing, pension, retirement, savings, stock option, incentive stock and deferred compensation plans, in accordance with the terms and conditions as in effect from time to time.

  • Participation in Plans Notwithstanding any other provision of this Agreement, the Executive shall have the right to participate in any and all of the plans or programs made available by the Company (or it subsidiaries, divisions or affiliates) to, or for the benefit of, executives (including the annual stock option and restricted stock grant programs) or employees in general, on a basis consistent with other senior executives.

  • PARTICIPATION IN CENTRALIZED CONTRACTS a. Agencies All State Agencies may utilize and purchase under any Centralized Contract let by the Commissioner, unless the Bid Documents limit purchases to specific State Agencies. b. Non-State Agency Authorized Users Authorized Users other than State Agencies are permitted to make purchases through Centralized Contracts where permitted by law, the Contract or the Commissioner. c. Voluntary Extension Purchase Orders issued against a Centralized Contract by any Authorized User not provided for in the Bid Specifications shall be honored by the Contractor at its discretion and only with the approval of the OGS Commissioner and any other approvals required by law. Contractors are encouraged to voluntarily extend service Contracts to those additional entities authorized to utilize commodity Contracts under Section 163(3)(a)(iv) of the State Finance Law. d. Responsibility for Performance Participation in Centralized Contracts by Authorized Users is permitted upon the following conditions: (i) the responsibility with regard to performance of any contractual obligation, covenant, condition or term thereunder by any Authorized User other than State Agencies shall be borne and is expressly assumed by such Authorized User and not by the State; (ii) a breach of the Contract by any particular Authorized User shall neither constitute nor be deemed a breach of the Contract as a whole which shall remain in full force and effect, and shall not affect the validity of the Contract nor the obligations of the Contractor thereunder respecting non-breaching Authorized Users, whether State or otherwise; (iii) for a breach by an Authorized User other than a State Agency, the State specifically and expressly disclaims any and all liability for such breach; and (iv) each non-State Agency Authorized User and Contractor guarantees to save the State, its officers, agents and employees harmless from any liability that may be or is imposed by the non-State Agency Authorized User’s

  • PARTICIPATION, CONTRACT ACCESS, AND PARTICIPATING ENTITY REQUIREMENTS A. PARTICIPATION. Sourcewell’s cooperative contracts are available and open to public and nonprofit entities across the United States and Canada; such as federal, state/province, municipal, K-12 and higher education, tribal government, and other public entities. The benefits of this Contract should be available to all Participating Entities that can legally access the Equipment, Products, or Services under this Contract. A Participating Entity’s authority to access this Contract is determined through its cooperative purchasing, interlocal, or joint powers laws. Any entity accessing benefits of this Contract will be considered a Service Member of Sourcewell during such time of access. Supplier understands that a Participating Entity’s use of this Contract is at the Participating Entity’s sole convenience and Participating Entities reserve the right to obtain like Equipment, Products, or Services from any other source. Supplier is responsible for familiarizing its sales and service forces with Sourcewell contract use eligibility requirements and documentation and will encourage potential participating entities to join Sourcewell. Sourcewell reserves the right to add and remove Participating Entities to its roster during the term of this Contract.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • Contribution Eligibility You are eligible to make a regular contribution to your Xxxx XXX, regardless of your age, if you have compensation and your MAGI is below the maximum threshold. Your Xxxx XXX contribution is not limited by your participation in an employer-sponsored retirement plan, other than a Traditional IRA.

  • CONTRIBUTION IN THE EVENT OF JOINT LIABILITY (a) To the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying, holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have at any time against Indemnitee. (b) The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee. (c) The Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may be brought by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

  • City Contribution The City agrees to maintain health and dental benefits at present levels for the life of the Agreement.

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