Salary Deferral Elections Sample Clauses

Salary Deferral Elections. I hereby apply for Participation in the above-named 403(b) Plan and direct my employer to withhold through payroll reduction the following amounts from each pay. I understand this election will be applied to future contributions only and will remain in effect until I direct new elections through the Plan’s Internet or Voice Response System. NOTE: I understand that if I am 50 years of age or will reach the age of 50 during this calendar year any contribution deferrals in excess of the traditional salary will be applied to the Age 50 Catch-up option.
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Salary Deferral Elections. I wish to make Employee Contributions to the following (indicate the plan, vendor, and either a dollar amount OR percentage: 403B Amount Per Pay: 457B Amount Per Pay: TIAA-CREF: $ OR % TIAA-CREF: $ OR % Fidelity: OR % Fidelity: $ OR % Comments:
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Salary Deferral Elections. 1. For any Plan Year, a Participant's Salary Deferral Election shall be the percentage of Compensation specified in the Participant's Salary Deferral Agreement which amount shall be between 1% and 25% of such Participant's Compensation for such Plan Year. The amount each Participant may elect to contribute to the Plan pursuant to a Salary Deferral Election shall be limited to the dollar limit in effect for the Plan Year pursuant to Section 402(g) of the Code.
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Salary Deferral Elections. Indicate plan election(s) and either a dollar amount or a percentage contribution per pay period. TIAA Check the applicable box(es) Stop Contribution New or Change Indicate the dollar amount or percentage per pay period 403(b) ☐ Pre-tax ☐ $ Dollar Amount  OR Percentage  % ☐ Post-tax (Xxxx) ☐ Dollar Amount  Percentage  457(b) ☐ Pre-tax ☐ $ Dollar Amount  OR Percentage  % ☐ Post-tax (Xxxx) ☐ Dollar Amount Percentage  These elections and changes will be effective as soon as administratively possible. Please note special effective date instructions for delayed payroll deduction: Click here to enter special instructions or comments. Important notice if first time election at WMU: You need to open an account at TIAA (xxxx.xxx/xxxxx). By signing this agreement, you are confirming that you have completed the online enrollment process. Instructions are available at: xxxxx://xxxxx.xxx/hr/forms/retirement. I acknowledge that this agreement supersedes all prior voluntary salary reduction agreements and that the total salary reduction amount cannot exceed 75% of compensation, after mandatory payroll withholdings that include but are not limited to taxes and health premiums. In addition, I understand that this agreement affects contributions from my paychecks on dates after it is received by Western Michigan University and that contributions will not be retroactive. I also understand that my salary reduction will begin with the first pay period following receipt of this agreement by WMU, unless I specify above a later date. If I am a new hire, I understand that the salary reduction must begin with a full pay period. I also understand that this agreement will remain in effect until I complete a new agreement or until I reach the contribution plan limit. I further understand that this agreement is legally binding while my employment continues but that either party may terminate or otherwise modify it at any time. I understand that I am solely responsible for the gains and losses resulting from my investment elections. I understand that combined pre-tax and post-tax (Xxxx) contributions cannot exceed annual maximum limits for 403(b) plan contributions and additionally for 457(b) plan contributions. I acknowledge that if deductions reach the maximum amount within the calendar year, WMU will stop payroll deductions until January 1 of the following calendar year. My contributions will them resume as noted above on January 1 without submission of a new salar...
Sample 1
Salary Deferral Elections. Indicate plan election(s) and either a dollar amount or a percentage contribution per pay period. TIAA Check the applicable box(es) Indicate the dollar amount or percentage per pay period 403(b) ☐ Pre-tax $ OR % ☐ Post-tax (Xxxx) 457(b) ☐ Pre-tax $ OR % ☐ Post-tax (Xxxx) This election will be effective as soon as administratively possible. Please note special effective date instructions for delayed payroll deduction: Important notice if first time election at WMU: You need to open an account at TIAA (xxxx.xxx/xxxxx). By signing this agreement, you are confirming that you have completed the online enrollment process.
Sample 1

Related to Salary Deferral Elections

  • Deferral Election A Participant may elect to defer all or a specified percentage of the Compensation earned in a Plan Year by such Participant for serving as a member of the Board of any Participating Fund or as a member of any committee or subcommittee thereof. Reimbursement of expenses of attending meetings of the Board, committees of the Board or subcommittees of such committees may not be deferred. Such election shall be made by executing before the first day of such Plan Year such election notice as the Administrator may prescribe; provided, however, that upon first becoming eligible to participate in the Plan by reason of appointment to a Board, a Participant may file a Deferral Election not later than 30 days after the effective date of such appointment, which election shall apply to Compensation earned in the portion of the Plan Year commencing the day after such election is filed and ending on the last day of such Plan Year.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Deferrals If permitted by the Company, the Participant may elect, subject to the terms and conditions of the Plan and any other applicable written plan or procedure adopted by the Company from time to time for purposes of such election, to defer the distribution of all or any portion of the shares of Common Stock that would otherwise be distributed to the Participant hereunder (the “Deferred Shares”), consistent with the requirements of Section 409A of the Code. Upon the vesting of RSUs that have been so deferred, the applicable number of Deferred Shares shall be credited to a bookkeeping account established on the Participant’s behalf (the “Account”). Subject to Section 5 hereof, the number of shares of Common Stock equal to the number of Deferred Shares credited to the Participant’s Account shall be distributed to the Participant in accordance with the terms and conditions of the Plan and the other applicable written plans or procedures of the Company, consistent with the requirements of Section 409A of the Code.

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