Common use of Salary Deferral Agreement Clause in Contracts

Salary Deferral Agreement. 1. This agreement is submitted to the University of Alaska, hereinafter “Employer,” on (date) by , hereinafter “Employee.” Employee elects to contribute $ per pay period, to a calendar year goal of $ Total of all deferrals under this Agreement may not, in 2021, exceed the $19,500 IRC limit unless Employee is age 50 or older and applying the Age 50+ catch-up of $6,500. Alternatively, Employee can elect the Special Catch-Up Limit of up to an additional $19,500 in one of the last three years of employment prior to normal retirement age.

Salary Deferral Agreement. 1. This agreement is submitted to the University of Alaska, hereinafter “Employer,” on (date) by , hereinafter “Employee.” Employee elects to contribute $ per pay period, to a calendar year goal of $ Total of all deferrals under this Agreement may not, in 20212020, exceed the $19,500 IRC limit unless Employee is age 50 or older and applying the Age 50+ catch-up of $6,500. Alternatively, Employee can elect the Special Catch-Up Limit of up to an additional $19,500 in one of the last three years of employment prior to normal retirement age.

Salary Deferral Agreement. 1. This agreement is submitted to the University of Alaska, hereinafter “Employer,” on (date) by , hereinafter “Employee.” Employee elects to contribute $ per pay period, to a calendar year goal of $ Total of all deferrals under this Agreement may not, in 20212018, exceed the $19,500 18,500 IRC limit unless Employee is age 50 or older and applying the Age 50+ catch-up of $6,5006,000. Alternatively, Employee can elect the Special Catch-Up Limit of up to an additional $19,500 18,500 in one of the last three years of employment prior to normal retirement age.

Salary Deferral Agreement. 1. This agreement is submitted to the University of Alaska, hereinafter “Employer,” on (date) by , hereinafter “Employee.” Employee elects to contribute $ per pay period, to a calendar year goal of $ Total of all deferrals under this Agreement may not, in 20212017, exceed the $19,500 18,000 IRC limit unless Employee is age 50 or older and applying the Age 50+ catch-up of $6,5006,000. Alternatively, Employee can elect the Special Catch-Up Limit of up to an additional $19,500 18,000 in one of the last three years of employment prior to normal retirement age.