QUALIFIED VOLUNTARY EMPLOYEE CONTRIBUTIONS. (a) If this is an amendment to a Plan that previously permitted deductible voluntary Employee contributions, then each Participant who made "Qualified Voluntary Employee Contributions" within the meaning of Code Section 219(e)(2) as it existed prior to the enactment of the Tax Reform Act of 1986, shall have such contributions held in a separate Qualified Voluntary Employee Contribution Account which shall be fully Vested at all times. Such contributions, however, shall not be permitted for taxable years beginning after December 31, 1986.
QUALIFIED VOLUNTARY EMPLOYEE CONTRIBUTIONS. Page 14 4.7 ROLLOVER ACCOUNT.........................................Page 15 4.8 EMPLOYER CONTRIBUTION ACCOUNT............................Page 15 4.9 ALLOCATION OF CONTRIBUTIONS AND FORFEITURES..........................................Page 15 4.10 ALLOCATION OF TRUST GAINS AND LOSSES....................Page 15 4.11
QUALIFIED VOLUNTARY EMPLOYEE CONTRIBUTIONS. The Administrator will not accept deductible employee contributions which are made for a taxable year beginning after December 31, 1986. Contributions made prior to that date will be maintained in a separate account which will be nonforfeitable at all times. The assets of the trust will be valued annually at fair market value as of the last day of the Plan Year. On such date, the earnings and losses of the trust attributable to the accumulated deductible voluntary contribution will be allocated to each Participant's deductible voluntary contributions account in the ratio that such account balance bears to all such account balances. No part of the deductible voluntary contribution account will be used to purchase life insurance. Subject to Section 5.7, Joint and Survivor Annuity requirements (if applicable), the Participant may withdraw any part of the deductible voluntary contribution account by making a written application to the Plan Administrator.
QUALIFIED VOLUNTARY EMPLOYEE CONTRIBUTIONS. If permitted by Xxxxxxx Fund Distributors, Inc., qualified voluntary employee contributions as defined in section 219(e)(2) of the Code may be received under this Agreement with respect to taxable years beginning after December 31, 1981, and such contributions shall thereafter be held and administered hereunder by the Custodian in accordance with all applicable law with respect to accumulated deductible employee contributions as defined in section 72(o)(5)(B) of the Code.
QUALIFIED VOLUNTARY EMPLOYEE CONTRIBUTIONS. Any voluntary ----------------------------------------------- Participant contribution made in cash after December 31, 1981 attributable to taxable years ending before January 1, 1987, shall be treated as a "Qualified Voluntary Employee Contribution" within the meaning of Code section 219(e)(2) as it existed prior to the enactment of the Tax Reform Act of 1986, as amended. A qualified Plan may not accept Qualified Voluntary Employee Contributions ("QVECs") which are made for a Taxable Year beginning after December 31, 1987. If the Employer's Plan includes QVECs made prior to January 1, 1988, the Plan Administrator must maintain a separate accounting for the Participant's Account Balance attributable to QVECs, including QVECs which are part of a rollover contribution described in Section 3.04. The Plan Administrator will treat the accumulated QVECs as part of the Participant's Account Balance for all purposes of the Plan, except for purposes of determining the Top-Heavy Ratio under Section 18.02. The Plan Administrator may not use QVECs to purchase life insurance on the Participant's behalf.
QUALIFIED VOLUNTARY EMPLOYEE CONTRIBUTIONS. 30 7.3 Withdrawals....................................................................................30 ARTICLE 8: EMPLOYER CONTRIBUTIONS; AMOUNT AND ALLOCATION........................................................31
QUALIFIED VOLUNTARY EMPLOYEE CONTRIBUTIONS. (a) The provisions of this section apply if the employer's execution of the adoption agreement constitutes the amendment and restatement of an existing qualified plan under which participants made qualified voluntary employee contributions for taxable years before 1987.
QUALIFIED VOLUNTARY EMPLOYEE CONTRIBUTIONS. If a participant has not attained age 59 1/2 or is not disabled at the time he makes a withdrawal or receives a distribution from his qualified voluntary employee contributions account, he will be subject to a federal income tax penalty unless he completes a valid rollover transfer to a qualified plan or individual retirement plan within 60 days after the date of distribution.
QUALIFIED VOLUNTARY EMPLOYEE CONTRIBUTIONS. (a) Each Participant may elect pursuant to this Section 3.5 to make a voluntary contribution in cash up to $2,000 (but not more than 100% of the Participant's Compensation for the taxable year to which the contribution relates) which is to be treated as a "Qualified Voluntary Employee Contribution" within the meaning of Section 219(e)(2) of the Internal Revenue Code of 1954, as amended.
QUALIFIED VOLUNTARY EMPLOYEE CONTRIBUTIONS. (a) Any voluntary employee contribution made in cash after December 31, 1981 attributable to taxable years ending before January 1, 1987, shall be treated as a "Qualified Voluntary Employee Contribution" within the meaning of Code Section 219(e)(2) as it existed prior to the enactment of the Tax Reform Act of 1986, and held in a separate Qualified Voluntary Employee Contribution Account.
