Common use of Salary Reduction Contributions to Account Clause in Contracts

Salary Reduction Contributions to Account. In connection with the Account, the Employee and the Employer may enter into a salary reduction agreement, and the Employer will contribute to the Employee's Account all amounts by which the Employee's salary is reduced under such salary reduction agreement. Any salary reduction agreement between the Employer and the Employee will be effective only as to amounts earned by the Employee after such agreement becomes effective. A salary reduction agreement may not be retroactively revoked or modified with respect to amounts already earned by the Employee. Either the Employee or the Employer may terminate a salary reduction agreement at the end of any payroll period. Following termination of a salary reduction agreement, the Employee may reinstate his or her salary reduction agreement or may enter into a new salary reduction agreement with the Employer. The Employee may modify the salary reduction agreement at any time. However, the Employer may impose reasonable restrictions on the frequency with which the Employee may terminate, reinstate or modify a salary reduction agreement. Any termination, reinstatement or modification will relate only to compensation not yet earned, and not to compensation already earned, by the Employee as of the effective date of such termination, reinstatement or modification. No Employer contributions other than contributions pursuant to a salary reduction agreement are permitted. No contributions or transfers-in shall be accepted by the Custodian or Fund Distributor on and after the date such Fund Distributor no longer makes its Funds available for contributions or transfers-in to this 403(b) Custodial Account. No after-tax contributions or designated Xxxx contributions as described in Treasury regulation 1.403(b)-3(c) are permitted.

Salary Reduction Contributions to Account. In connection with the Account, the Employee and the Employer may enter into a salary reduction agreement, and the Employer will contribute to the Employee's Account all amounts by which the Employee's salary is reduced under such salary reduction agreement. Any salary reduction agreement between the Employer and the Employee will be effective only as to amounts earned by the Employee after such agreement becomes effective. A salary reduction agreement may not be retroactively revoked or modified with respect to amounts already earned by the Employee. Either the Employee or the Employer may terminate a salary reduction agreement at the end of any payroll period. Following termination of a salary reduction agreement, the Employee may reinstate his or her salary reduction agreement or may enter into a new salary reduction agreement with the Employer. The Employee may modify the salary reduction agreement at any time. However, the Employer may impose reasonable restrictions on the frequency with which the Employee may terminate, reinstate or modify a salary reduction agreement. Any termination, reinstatement or modification will relate only to compensation not yet earned, and not to compensation already earned, by the Employee as of the effective date of such termination, reinstatement or modification. No Employer contributions other than contributions pursuant to a salary reduction agreement are permitted. No contributions or transfers-in shall be accepted by the Custodian or Fund Distributor on and after the date such Fund Distributor no longer makes its Funds available for contributions or transfers-in to this 403(b) Custodial Account. No after-tax contributions or designated Xxxx contributions as described in Treasury regulation 1.403(b)-3(c) are permitted.

Salary Reduction Contributions to Account. In connection with the Account, the Employee and the Employer may enter into a salary reduction agreement, and the Employer will contribute to the Employee's Account all amounts by which the Employee's salary is reduced under such salary reduction agreement. Any salary reduction agreement between the Employer and the Employee will be effective only as to amounts earned by the Employee after such agreement becomes effective. A salary reduction agreement may not be retroactively revoked or modified with respect to amounts already earned by the Employee. Either the Employee or the Employer may terminate a salary reduction agreement at the end of any payroll period. Following termination of a salary reduction agreement, the Employee may reinstate his or her salary reduction agreement or may enter into a new salary reduction agreement with the Employer. The Employee may modify the salary reduction agreement at any time. However, the Employer may impose reasonable restrictions on the frequency with which the Employee may terminate, reinstate or modify a salary reduction agreement. Any termination, reinstatement or modification will relate only to compensation not yet earned, and not to compensation already earned, by the Employee as of the effective date of such termination, reinstatement or modification. No Employer contributions other than contributions pursuant to a salary reduction agreement are permitted. No contributions or transfers-in shall be accepted by the Custodian or Fund Distributor on and after the date such Fund Distributor no longer makes its Funds available for contributions or transfers-in to this 403(b) Custodial Account. No after-tax contributions or designated Xxxx contributions as described in Treasury regulation 1.403(b)-3(c) are permitted.or

Salary Reduction Contributions to Account. In connection with the Account, the Employee and the Employer may enter into a salary reduction agreement, and the Employer will contribute to the Employee's ’s Account all amounts by which the Employee's ’s salary is reduced under such salary reduction agreement. Any salary reduction agreement between the Employer and the Employee will be effective only as to amounts earned by the Employee after such agreement becomes effective. A salary reduction agreement may not be retroactively revoked or modified with respect to amounts already earned by the Employee. Either the Employee or the Employer may terminate a salary reduction agreement at the end of any payroll period. Following termination of a salary reduction agreement, the Employee may reinstate his or her salary reduction agreement or may enter into a new salary reduction agreement with the Employer. The Employee may modify the salary reduction agreement at any time. However, the Employer may impose reasonable restrictions on the frequency with which the Employee may terminate, reinstate or modify a salary reduction agreement. Any termination, reinstatement or modification will relate only to compensation not yet earned, and not to compensation already earned, by the Employee as of the effective date of such termination, reinstatement or modification. No Employer contributions other than contributions pursuant to a salary reduction agreement are permitted. No contributions or transfers-in shall be accepted by the Custodian or Fund Distributor on and after the date such Fund Distributor no longer makes its Funds available for contributions or transfers-transfers- in to this 403(b) Custodial Account. No after-tax contributions or designated Xxxx contributions as described in Treasury regulation Regulation Section 1.403(b)-3(c) are permitted.