Payroll Deduction Modification Clause Samples

Payroll Deduction Modification. Paragraph 3.5(a) Payroll deduction contributions (including an election to designate ▇▇▇▇ contributions, if applicable) may be terminated, changed or recommenced [check one if any contributions are permitted under this Option 6 (other than Rollovers)]. o(a)On the first day of each payroll period. x(b)Monthly on the first day of any month. o(c)Quarterly on the first day of any quarter of a Plan Year. o(d)Annually on the first day of any Plan Year. NOTE: Annually is not permissible if the Plan has elected to use a safe harbor method to sail* the ADP and ACP tests.