Salary Reduction Election. I hereby authorize my Employer to reduce my compensation (as defined in the 457(b) plan (the Plan)) by % or $ and to apply such amount each pay period toward the purchase of the funding vehicle(s) offered by an authorized provider under the Plan. If I am a current employee, I understand that this election applies only to compensation paid or made available no earlier than the first day of the calendar month after the calendar month in which this Agreement is signed. If I am a newly hired employee and the Plan so permits, I understand that this election applies to compensation payable in the calendar month in which I first become an employee if I enter into this Agreement with my Employer on or before the first day in which I perform services for the Employer. I further understand that this Agreement is irrevocable with respect to compensation paid and shall supersede any prior Agreement between my Employer and me under the Plan. ⬜ Pre-Tax Deferral % or $ (per pay period) ⬜ Xxxx 457(b) Contribution* % or $ (per pay period) ⬜ Special 457 Pre-Tax Deferral Catch Up* % or $ (per pay period) ⬜ Special 457 Xxxx Catch-up* % or $ (per pay period) ⬜ Pre-Tax Age 50+ Catch Up* % or $ (per pay period) ⬜ Xxxx Age 50+ Catch Up* % or $ (per pay period) *Xxxx Contributions, Special 457 Catch Up and Age 50+ Catch Up are available only if permitted under the Plan document. • If an employee elects the Special 457 Catch Up, he must be within three years prior to the year in which he will reach Normal Retirement Age (as defined in the Plan) and have not previously contributed up to the maximum amount permitted in those prior years. Contact a local Voya FinancialTM representative for more information. • If an employee is eligible for both the Special 457 Service Catch Up and the Age 50+ Catch Up in the same tax year, he cannot use both Catch Ups in the same tax year. IRS rules provide that such a Participant can use the Catch Up that allows him to contribute the greater amount in that tax year. Contact your local Voya representative for additional information. I direct my Employer to remit 457 contributions pursuant to this Agreement to the following provider approved under the Plan: ⬜
Salary Reduction Election. An eligible employee may make an election to have his or her compensation for each pay period reduced. The total amount of the reduction in the employee’s compensation for a calendar year cannot exceed the applicable amount for that year.
Salary Reduction Election. Subject to the requirements of the SIMPLE IRA Plan of the above-named employer, I authorize the percentage OR dollar amount listed below to be withheld from my pay each pay period and contributed to my SIMPLE IRA as a salary reduction contribution. Percentage . %
Salary Reduction Election. Subject to the requirements of the SIMPLE plan of ___________________ (name of employer) I authorize __________% or $____________ (which equals ________% of my current rate of pay) to be withheld from my pay for each pay period and contributed to my SIMPLE IRA as a salary reduction contribution.
Salary Reduction Election. Contract Complete Sections A and B You may elect to contribute a higher percentage than indicated in the chart below. If you choose to do this, the maximum contribution from the College is 5%, inclusive of the non-elective and matching contributions. Indicate your election(s) in A below
Salary Reduction Election. Each Eligible Employee may make a salary reduction election to have his or her Compensation reduced for the Year in any amount selected by the Eligible Employee. The Employer will make a salary reduction contribution to the Plan, as an Elective Deferral, in the amount by which the Eligible Employee’s Compensation has been reduced. The limitation on salary reduction contributions is $7,000 for 2002 and increasing by $1,000 for each Year thereafter up to $10,000 for 2005 and later Years. After 2005, the $10,000 limit will be adjusted (but only in $500 increments) by the Secretary of the Treasury for cost-of-living increases under Code §408(p)(2)(E). Beginning in 2002, the amount of an Eligible Employee’s salary reduction contributions permitted for a Year is increased for Eligible Employees aged 50 or over by the end of the Year by the amount of allowable Catch-Up Contributions. The Catch-Up Contribution Limit in a SIMPLE 401(k) Plan is $500 for 2002, increasing by $500 for each Year thereafter up to $2,500 for 2006. After 2006, the Catch-Up Contribution Limit of $2,500 will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code §414(v)(2)(C). Any such adjustments will be in multiples of $500. Catch-Up Contributions are otherwise treated the same as other salary reduction contributions.
Salary Reduction Election. Subject to the requirements of the SIMPLE plan for , I authorize % or $ (which equals % of my current rate of pay) to be withheld from my pay for each pay period and contributed to my SIMPLE IRA as a salary reduction contribution. I understand that the total amount of my salary reduction contributions in any calendar year cannot exceed the contribution limits as prescribed by the IRS. The annual limits are subject to cost-of-living adjustments and may change in future years. I understand that my salary reduction contributions will start as soon as permitted under the SIMPLE plan and as soon as administratively feasible or, if later, . (Fill in the date you want the salary reduction contributions to begin.) Start date (mm/dd/yyyy) I select the following financial institution for my SIMPLE IRA: Allspring Funds
Salary Reduction Election. 4.1 A person designated as a Participant for any Plan Year shall be entitled to elect to reduce such persons salary or bonus compensation for such Plan Year as follows:
(a) The election shall be made on the election form attached hereto, signed by the Participant, dated when made and delivered to the Compensation Committee; (b) The election shall be completed and delivered to the Compensation Committee on or before December 31 of the Plan Year preceding the Plan Year for which the election is effective.
(c) The percentage of the total salary compensation which a Participant shall be entitled to elect to reduce and defer shall not exceed 25% thereof. The percentage of bonus compensation which a Participant shall be entitled to elect to reduce and defer shall not exceed 50% thereof.
4.2 With respect to Plan Year 1998, the first Plan Year of this Plan, the election shall be made as follows:
(a) The election shall be completed, signed and delivered to the Compensation Committee within 30 days after the Effective Date of this Plan; (b) The election shall apply, and reduction of compensation shall be made, only to compensation for services performed after the date of the election;
4.3 With respect to the amount of salary or bonus compensation reduced by a Participant in accordance with this Plan:
(a) The amount thereof shall be deducted from salary or bonus payments when otherwise due and shall not be paid to Participant; (b) At the time such payments would otherwise have been due, the Company shall make payment of the amount thereof to the Trust and shall be allocated to the Account of such Participant.
Salary Reduction Election. Defined Contribution Plan (if applicable)
