Simplified Employee Pension Contributions Sample Clauses

Simplified Employee Pension Contributions. An individual who is eligible to receive an allocation of contributions under a Simplified Employee Pension (or salary reduction Simplified Employee Pension) from his or her employer may be an Investor eligible to have such employer contributions made to a Traditional IRA established under this Custodial Agreement. Any Simplified Employee Pension contributions by an employer must be in cash and may not exceed the lesser of the percentage specified in Section 402(h)(2)(A) of the Code of the Investor’s compensation from the employer or the dollar limit under Section 402(h)(2)(B) of the Code. Simplified Employee Pension contributions for any year shall be made on or before the due date for the employer’s federal income tax return for such year (including extensions). The Investor’s employer and the Investor are responsible for assuring that Simplified Employee Pension contributions are within the limits under the Code and that the employer’s Simplified Employee Pension program meets the requirements of Section 408(k) of the Code. The Investor shall, if requested by the Custodian, deliver a written statement to the Custodian of compliance with the contribution limits and conformity of the employer’s Simplified Employee Pension program with Section 408(k) of the Code.
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Related to Simplified Employee Pension Contributions

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • Pension Contributions 19.2.3.1 Unless required by law to commence receiving a pension prior to the Member’s actual retirement date (i.e., currently December 31 of the year in which the Member attains age sixty-nine (69)) the Member who postponed retirement beyond his or her TRD will continue to make pension contributions.

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who:

  • Pension Benefits Each party reserves the right to retain as his or her sole and absolute separate property, the entire interest in pension benefits now vested, or that become vested in the future, and the right to manage, control, transfer, and convey all such property and dispose of the same by will, beneficiary designation or otherwise, without any interference from the other. The parties acknowledge that this Agreement shall constitute an effective waiver of any rights in the other's pension benefit plans. Furthermore, each party agrees to execute whatever additional waiver document may be necessary or useful to confirm such waiver of rights to the other party's pension benefit plans.

  • Partial Employer Contribution - Basic Eligibility The following employees covered by this Agreement receive the full Employer Contribution for basic life coverage, and at the employee's option, a partial Employer Contribution for health and dental coverages if they are scheduled to work at least fifty (50) percent but less than seventy-five (75) percent of the time. This means:

  • Pension Plan 15.01 The CLAC Pension Plan (“the Plan”), a defined contribution pension plan, is registered with the Canada Revenue Agency. The Plan applies to all employees covered by this Agreement.

  • Nondeductible Contributions You may make nondeductible contributions to your Traditional IRA to the extent that deductible contributions are not allowed. The sum of your deductible and nondeductible IRA contributions cannot exceed your contribution limit (the lesser of the allowable contribution limit described previously, or 100 percent of Compensation). You may elect to treat deductible Traditional IRA contributions as nondeductible contributions. If you make nondeductible contributions for a particular tax year, you must report the amount of the nondeductible contribution along with your income tax return using IRS Form 8606. Failure to file IRS Form 8606 will result in a $50 per failure penalty. If you overstate the amount of designated nondeductible contributions for any taxable year, you are subject to a $100 penalty unless reasonable cause for the overstatement can be shown.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who:

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