Common use of Salary Deferral Agreement Clause in Contracts

Salary Deferral Agreement. (a) In general. Each Plan Year, a Participant may elect to enter into a written Salary Deferral Agreement with the Employer which shall be applicable to a specified number of payroll periods within the Plan Year following the date of such Salary Deferral Agreement. The terms of any such Salary Deferral Agreement shall provide that the Participant agrees to accept a reduction in salary from the Employer equal to a stated percentage of his Compensation per payroll period, or a fixed dollar amount, or some combination thereof, not to exceed either: (1) the amount specified in the Adoption Agreement for a Salary Deferral Agreement for the Plan Year, or (2) the dollar limit contained in Code section 402(g) in effect at the beginning of the calendar year. A Participant’s Elective Deferrals for a calendar year under the Plan, plus the Participant’s elective contributions under all other plans, contracts and arrangements of the Employer, shall not exceed the limit imposed by Code section 402(g) for such calendar year, except to the extent permitted under Section 3.01(d) and Code section 414(v), if applicable. In consideration of such Salary Deferral Agreement, the Employer shall make a Salary Deferral Contribution to the Participant’s Salary Deferral Account (and, if applicable, the Participant’s Salary Deferral Catch-up Contribution Account) and a Xxxx 401(k) Contribution to the Participant’s Xxxx 401(k) Account (and, if applicable, the Participant’s Xxxx 401(k) Catch-up Contribution Account) on behalf of the Participant for such Plan Year in an amount equal to the total amount by which the Participant’s Compensation from the Employer was reduced during the Plan Year pursuant to the Participant’s Salary Deferral Agreement.

Appears in 1 contract

Samples: Fairfax Financial Holdings LTD/ Can

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Salary Deferral Agreement. (a) In generalE-Mail Address Mo Day Year ❑ Female ❑ Male ❑ Married ❑ Unmarried Date of Birth This Agreement shall apply to all compensation paid from the effective date specified, until cancelled, superceded, or the employee ceases to be an eligible employee. Each This Agreement supercedes all previous agreements. I understand that I may change the percentage of compensation or dollar amount contributed to the Plan Year, a Participant may only when and as allowed under the terms of the Plan. I also understand that it is my responsibility to comply with the Internal Revenue Code deferral limits. Payroll Information Specify one of the following: ❑ New Enrollment ❑ Restart ❑ Increase Payroll Deduction ❑ Decrease Payroll Deduction ❑ Stop Deductions Specify the following: ❑ I elect to enter contribute % or $ (per pay period) of my compensation as before-tax contributions to the Governmental 457(b) Deferred Compensation Plan until such time as I revoke or amend my election. Payroll Effective Date: Date of Hire: Mo Day Year Mo Day Year Deferral agreements must be entered into a written Salary Deferral Agreement with prior to the Employer which shall first day of the month that the deferral will be applicable made. Required Signatures - I have completed, understand and agree to a specified number of payroll periods within the Plan Year following the date of such Salary Deferral Agreement. The terms of any such Salary this Agreement and authorize the payroll deduction as indicated on this form. Deferral Agreement shall provide agreements must be entered into prior to the first day of the month that the Participant agrees to accept a reduction in salary from deferral will be made. I also understand that if I am increasing or decreasing my payroll deductions, the Employer equal to a stated percentage of his Compensation per payroll period, or a fixed dollar amount, or some combination thereof, not to exceed either: (1) new deferral amount will take effect on the amount specified in first pay period after the Adoption Agreement for a Salary Deferral Agreement for the Plan Year, or (2) the dollar limit contained in Code section 402(g) in effect at the beginning first of the calendar year. A Participant’s Elective Deferrals for a calendar year under the Plan, plus the Participant’s elective contributions under all other plans, contracts and arrangements of the Employer, shall not exceed the limit imposed by Code section 402(g) for such calendar year, except to the extent permitted under Section 3.01(d) and Code section 414(v), if applicable. In consideration of such Salary Deferral Agreement, the Employer shall make a Salary Deferral Contribution to the Participant’s Salary Deferral Account (and, if applicable, the Participant’s Salary Deferral Catch-up Contribution Account) and a Xxxx 401(k) Contribution to the Participant’s Xxxx 401(k) Account (and, if applicable, the Participant’s Xxxx 401(k) Catch-up Contribution Account) on behalf of the Participant for such Plan Year month in an amount equal to the total amount by which the Participant’s Compensation from the Employer change was reduced during the made. If I am stopping payroll deductions, all existing deferrals will be cancelled. Participant Signature Date Authorized Plan Year pursuant Administrator/Trustee Signature Date Participant forward to the Participant’s Salary Deferral Agreement.Plan Administrator/Trustee Plan Administrator forward to Service Provider at: Great-West Retirement Services Xxx Xxxxxxxx Xxxxxx, Xxxxx 0000 Xxxxxxx, XX 00000 Phone #: 0-000-000-0000 Fax #: 0-000-000-0000 Web site: xxx.xxxxxxxxx.xxx ][GP22][/154071370

Appears in 1 contract

Samples: Salary Deferral Agreement

Salary Deferral Agreement. (a) In generalMo Day Year ❑ Female ❑ Male ❑ Married ❑ Unmarried Date of Birth This Agreement shall apply to all compensation paid from the effective date specified, until cancelled, superceded, or the employee ceases to be an eligible employee. Each This Agreement supercedes all previous agreements. I understand that I may change the percentage of compensation or dollar amount contributed to the Plan Year, a Participant may only when and as allowed under the terms of the Plan. I also understand that it is my responsibility to comply with the Internal Revenue Code deferral limits. Payroll Information Specify one of the following: ❑ New Enrollment ❑ Restart ❑ Increase Payroll Deduction ❑ Decrease Payroll Deduction ❑ Stop Deductions Specify the following: ❑ I elect to enter contribute % or $ (per pay period) of my compensation as before-tax contributions to the Governmental 457(b) Deferred Compensation Plan until such time as I revoke or amend my election. Payroll Effective Date: Date of Hire: Mo Day Year Mo Day Year Deferral agreements must be entered into a written Salary Deferral Agreement with prior to the Employer which shall first day of the month that the deferral will be applicable made. Division Name Division Number Your Consent and Signature I have completed, understand and agree to a specified number of payroll periods within the Plan Year following the date of such Salary Deferral Agreement. The terms of any such Salary this Agreement and authorize the payroll deduction as indicated on this form. Deferral Agreement shall provide agreements must be entered into prior to the first day of the month that the Participant agrees to accept a reduction in salary from deferral will be made. I also understand that if I am increasing or decreasing my payroll deductions, the Employer equal to a stated percentage of his Compensation per payroll period, or a fixed dollar amount, or some combination thereof, not to exceed either: (1) new deferral amount will take effect on the amount specified in first pay period after the Adoption Agreement for a Salary Deferral Agreement for the Plan Year, or (2) the dollar limit contained in Code section 402(g) in effect at the beginning first of the calendar year. A Participant’s Elective Deferrals for a calendar year under the Plan, plus the Participant’s elective contributions under all other plans, contracts and arrangements of the Employer, shall not exceed the limit imposed by Code section 402(g) for such calendar year, except to the extent permitted under Section 3.01(d) and Code section 414(v), if applicable. In consideration of such Salary Deferral Agreement, the Employer shall make a Salary Deferral Contribution to the Participant’s Salary Deferral Account (and, if applicable, the Participant’s Salary Deferral Catch-up Contribution Account) and a Xxxx 401(k) Contribution to the Participant’s Xxxx 401(k) Account (and, if applicable, the Participant’s Xxxx 401(k) Catch-up Contribution Account) on behalf of the Participant for such Plan Year month in an amount equal to the total amount by which the Participant’s Compensation from the Employer change was reduced during the made. If I am stopping payroll deductions, all existing deferrals will be cancelled. Participant Signature Date Participant forward to Plan Year pursuant Administrator/Trustee Authorized Signature(s) Authorized Plan Administrator/Trustee Signature Date Plan Administrator forward to the Participant’s Salary Deferral Agreement.Service Provider at: Xxxx County 0000 Xxxxxxx Xxx, 0xx Xxxxx Xxxxxxxxxxx, XX 00000-0000 Phone #: 0-000-000-0000 Fax #: 0-000-000-0000 Web site: xxx.xxxx000.xxx ][XXXX][/202161113

Appears in 1 contract

Samples: Salary Deferral Agreement

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Salary Deferral Agreement. (a) In generalMo Day Year ❑ Female ❑ Male ❑ Married ❑ Unmarried Date of Birth Do you have a retirement savings plan with a previous employer or an IRA? ❑ Yes or ❑ No This Agreement shall apply to all compensation paid from the effective date specified, until cancelled, superceded, or the employee ceases to be an eligible employee. Each This Agreement supercedes all previous agreements. I understand that I may change the percentage of compensation or dollar amount contributed to the Plan Year, a Participant may only when and as allowed under the terms of the Plan. I also understand that it is my responsibility to comply with the Internal Revenue Code deferral limits. Payroll Information Specify one of the following: ❑ Restart Payroll Deductions ❑ Increase Payroll Deductions ❑ Decrease Payroll Deductions ❑ Stop Payroll Deductions Specify the following: ❑ I elect to enter contribute $ (per pay period) of my compensation as before-tax contributions to the Governmental 457(b) Deferred Compensation Plan until such time as I revoke or amend my election. ❑ I elect to contribute $ (per pay period) of my compensation after-tax as a designated Xxxx contribution to the Governmental 457(b) Deferred Compensation Plan until such time as I revoke or amend my election. Warrant Distribution Date: Date of Hire: Mo Day Year Mo Day Year Deferral agreements must be entered into a written Salary Deferral Agreement with prior to the Employer which shall first day of the month that the deferral will be applicable made. Your Consent and Signature I have completed, understand and agree to a specified number of payroll periods within the Plan Year following the date of such Salary Deferral Agreement. The terms of any such Salary this Agreement and authorize the payroll deduction as indicated on this form. Deferral Agreement shall provide agreements must be entered into prior to the first day of the month that the deferral will be made. I also understand that if I am increasing or decreasing my payroll deductions, the new deferral amount will take effect on the first pay period after the first of the month in which the change was made. If I am stopping payroll deductions, all existing deferrals will be cancelled. Participant agrees Signature Date Great-West Retirement Services® PO Box 173764 Denver, CO 80217-3764 Participant forward to accept Service Provider at: Empower Retirement PO Box 173764 Denver, CO 80217-3764 Express Address: 0000 X. Xxxxxxx Xxxx, Xxxxxxxxx Xxxxxxx, XX 00000 Phone #: 0-000-000-0000 *UHDW-:HVW )LQDQFLDO60 UHIHUV WR SURGXFWV DQG VHUYLFHV SURYLGHG E\ *UHDW-:HVW /LIH & $QQXLW\ ,QVXUDQFH &RPSDQ\; *UHDW-:HVW /LIH & $QQXLW\ RI 1HZ <RUN, :KLWH 3ODLQV, 1HZ <RUN; WKHLU VXEVLGLDULHV DQG DIILOLDWHV. *UHDW-:HVW 5HWLUHPHQW 6HUYLFHVŠ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ore securities, when offered, are offered through GWFS Equities, Inc. and/or other broker dealers. GWFS Equities, Inc., Member FINRA/SIPC, is a reduction in salary from wholly owned subsidiary of Great-West Life & Annuity Insurance Company Empower Retirement refers to the Employer equal to a stated percentage of his Compensation per payroll period, or a fixed dollar amount, or some combination thereof, not to exceed either: (1) the amount specified products and services offered in the Adoption Agreement for a Salary Deferral Agreement for the Plan Year, or retirement markets by Great-West Life & Annuity Insurance Company (2) the dollar limit contained in Code section 402(g) in effect at the beginning of the calendar year. A Participant’s Elective Deferrals for a calendar year under the Plan, plus the Participant’s elective contributions under all other plans, contracts and arrangements of the Employer, shall not exceed the limit imposed by Code section 402(g) for such calendar year, except to the extent permitted under Section 3.01(d) and Code section 414(vGWL&A), if applicableCorporate Headquarters: Greenwood Village, CO; Great-West Life & Annuity Insurance Company of New York, Home Office: White Plains, NY; and their subsidiaries and affiliates. In consideration All trademarks, logos, service marks, and design elements used are owned by their respective owners and are used by permission. Fax #: 0-000-000-0000 FSALDF 07/15/15 98214-01 LDOM - MANUAL(SR 15995523) LDOM - Manual Page 1 of such Salary Deferral Agreement, the Employer shall make a Salary Deferral Contribution to the Participant’s Salary Deferral Account (and, if applicable, the Participant’s Salary Deferral Catch1 FSALDF 04/11/15 98214-up Contribution Account) and a Xxxx 401(k) Contribution to the Participant’s Xxxx 401(k) Account (and, if applicable, the Participant’s Xxxx 401(k) Catch-up Contribution Account) on behalf of the Participant for such Plan Year in an amount equal to the total amount by which the Participant’s Compensation from the Employer was reduced during the Plan Year pursuant to the Participant’s Salary Deferral Agreement.01

Appears in 1 contract

Samples: Salary Deferral Agreement

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