Salary Reduction Contributions. The amount by which an employee agrees to reduce his or her compensation will be contributed by the Employer to the employee's SIMPLE IRA.
Salary Reduction Contributions. (1.30). A Participant's Salary Reduction Contributions under Election 5b. are subject to the following limitation(s) in addition to those imposed by the Code (Choose one of a. or b.):
Salary Reduction Contributions. Each Depositor who is an Eligible Employee under the Employer’s SIMPLE IRA Plan must be permitted to make salary reduction contributions if he or she so elects. A salary reduction contribution is a contribution, generally expressed as a percentage of compensation, that an Employee elects to have contributed to his or her SIMPLE IRA instead of receiving that amount in cash. The Employer may permit the Depositor to express the amount of his or her salary reduction contribution as a specific dollar amount. Salary reduction contributions cannot exceed the Applicable Limit per Plan Year. The Depositor may cease salary reduction contributions at any time by notifying the Employer. Salary reduction contributions include catch-up contributions pursuant to Section 414(v) of the Code for Depositors age 50 or older.
Salary Reduction Contributions. If you are eligible to participate in your Employer’s SIMPLE Plan, you are permitted to make salary reduction contributions if you elect to do so by entering into a salary reduction agreement with your Employer. A salary reduction contribution is generally expressed as a percentage of compensation or a specific dollar amount that you elect to have contributed to your SIMPLE IRA instead of receiving that amount in cash. Salary reduction contributions cannot exceed the maximum amount allowed under current law. You can stop salary reduction contributions at any time during the year by notifying your Employer. You must generally wait until the Election Period, as described below, to resume or modify a Salary Reduction Agreement, but your Employer will notify you of other times when you may resume or modify a Salary Reduction Agreement.
Salary Reduction Contributions. (Article 4.1 of the Plan).
Salary Reduction Contributions. The Employer shall make contributions to the Account on behalf of the Participant in accordance with a salary reduction agreement between the Employer and Participant as described in Article 3.2 of this Appendix, subject to the limitations of Articles 3.3 and 3.7 of this Appendix.
Salary Reduction Contributions. The amount contributed to an Employee's Custodial Account in any calendar year as a Salary Reduction Contribution shall not exceed the greater of $10,000 or the limitation on elective deferrals in effect for such year under Section 402(g) of the Code ($7,000, indexed for cost-of- living increases). The limitation determined in accordance with the foregoing sentence is then reduced by the amount of any Salary Reduction Contributions made during the calendar year by or on behalf of the Employee under a qualified cash or deferred arrangement under Section 401(k) of the Code, a simplified employee pension under Section 408(k) of the Code, an eligible deferred compensation plan under Section 457 of the Code, or another tax deferred annuity or custodial account under Section 403(b) of the Code. In the case of an individual who has completed at least fifteen (15) years of service with an educational institution, hospital, home health service agency, health and welfare service agency, church or convention or association of churches, or a tax-exempt organization controlled by a church or convention or association of churches as described in Section 414(e)(3)(B)(ii) of the Code (collectively referred to as a "Qualified Organization"), the limitation on Salary Reduction Contributions for any year as determined above shall be increased by the least of the following amounts:
Salary Reduction Contributions. If selected by the Employer in the Adoption Agreement, the Employer will make a Salary Reduction Contribution (for allocation to the eligible Participant's Salary Reduction Account) on behalf of each Participant who both has elected to have a portion of the Compensation which would otherwise have been paid to him or her for the Plan Year contributed to the Trust and has received Compensation during the Plan Year. With respect to such elective contributions, the following provisions shall apply:
Salary Reduction Contributions i) Each Eligible Employee may make a salary reduction election to have his Compensation reduced for the Year in any amount selected by the Employee subject to the limitation set forth in (ii) below. We will make a salary reduction contribution to the Plan, as an elective deferral, in the amount by which the Employee’s Compensation has been reduced.
Salary Reduction Contributions. (Article 8.1 of the Plan). Salary Reduction Contributions and Performance-Based Compensation shall be 100 percent vested immediately.
