Common use of Payment of accrued interest Clause in Contracts

Payment of accrued interest. i. deferred earning will accumulate interest which will be paid annually to the employee by the plan administrator minus the annual administration fee. Under federal income tax regulations, interest earned on the employee's account cannot remain in the program. ii. interest paid to the employee under the provisions of the deferred salary leave plan will be considered as employment income for the purpose of the Income Tax Act and will be reported on a TS form issued by the plan administrator.

Payment of accrued interest. i. deferred Deferred earning will accumulate interest which will be paid annually to the employee by the plan administrator minus the annual administration feeadministrationfee. Under federal income tax regulations, interest earned on the employee's ’s account cannot remain in the program. ii. interest Interest paid to the employee under the provisions of the deferred salary leave plan will be considered as employment income for the purpose of the Income Tax Act and will be reported on a TS form issued by the plan administrator.

Payment of accrued interest. i. deferred Deferred earning will accumulate interest which will be paid annually to the employee by the plan administrator minus the annual administration fee. Under federal income tax regulations, interest earned on the employee's ’s account cannot remain in the program. ii. interest Interest paid to the employee under the provisions of the deferred salary leave plan will be considered as employment income for the purpose of the Income Tax Act and will be reported on a TS form issued by the plan administrator.