Common use of Supplemental Contributions by Employer Clause in Contracts

Supplemental Contributions by Employer. An Employer may, at its option, make a supplemental contribution under Formula (1) or (2) below: (1) A uniform percentage (as specified by the Employer) of each Member’s contributions not in excess of a maximum percentage (if the Employer elects to impose such a maximum) of the Member’s Salary which were received by the Plan during the Plan Year with respect to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made on or before the last day of the second month in the Plan Year following the Plan Year described in the preceding sentence on behalf of all those Members who were employed with the Employer on the last working day of the Plan Year with respect to which the supplemental contribution relates. (2) A uniform dollar amount per Member or a uniform percentage (limited to a specific dollar amount, if elected by the Employer) of each Member’s Salary for the Plan Year (or, at the election of the Employer, the Employer’s fiscal year) to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made within the time prescribed by law, including extensions of time, for filing of the Employer’s federal income tax return on behalf of all those Members who have completed 1,000 Hours of Service during the Plan Year (or fiscal year), were employed with the Employer on the last working day of the Plan Year (or the fiscal year), or retired, died or terminates employment due to a Disability during the Plan Year (or fiscal year) to which the supplemental contribution relates. The Employer may, at its option, elect to make a contribution under this paragraph to only those Members who’s Salary is less than an amount to be specified by the Employer to the extent that such Salary limit is less than the dollar amount under Section 414(q) of the Code for such year. The percentage contributed under this Formula (2) shall be limited in accordance with the Employer’s matching formula and basic contribution rate, if any, under this Article such that the sum of the Employer’s Formula (2) supplemental contribution plus all other Employer contributions under this Article shall not exceed 15% of Salary for such year.

Appears in 3 contracts

Samples: Adoption Agreement (Northeast Community Bancorp Inc), Adoption Agreement (Newport Bancorp Inc), Adoption Agreement (Sugar Creek Financial Corp)

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Supplemental Contributions by Employer. An Employer may, at its option, make a supplemental contribution under Formula (1) or (2) below: (1) A uniform percentage (as specified by the Employer) of each Member’s 's contributions not in excess of a maximum percentage (if the Employer elects to impose such a maximum) of the Member’s 's Salary which were received by the Plan during the Plan Year with respect to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made on or before the last day of the second month in the Plan Year following the Plan Year described in the preceding sentence on behalf of all those Members who were employed with the Employer on the last working day of the Plan Year with respect to which the supplemental contribution relates. (2) A uniform dollar amount per Member or a uniform percentage (limited to a specific dollar amount, if elected by the Employer) of each Member’s Member Salary for the Plan Year (or, at the election of the Employer, the Employer’s 's fiscal year) to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made within the time prescribed by law, including extensions of time, for filing of the Employer’s 's federal income tax return on behalf of all those Members who have completed 1,000 Hours of Service during the Plan Year (or fiscal year), were employed with the Employer on the last working day of the Plan Year (or the fiscal year), or retired, died or terminates employment due to a Disability during the Plan Year (or fiscal year) to which the supplemental contribution relates. The Employer may, at its option, elect to make a contribution under this paragraph to only those Members who’s whose Salary is less than an amount to be specified by the Employer to the extent that such Salary limit is less than the dollar amount under Section 414(q) of the Code for such year. The percentage contributed under this Formula (2) shall be limited in accordance with the Employer’s 's matching formula and basic contribution rate, if any, under this Article such that the sum of the Employer’s 's Formula (2) supplemental contribution plus all other Employer contributions under this Article shall not exceed 15% of Salary for such year.

Appears in 1 contract

Samples: Adoption Agreement (Bridge Street Financial Inc)

Supplemental Contributions by Employer. An Employer may, at its option, make a supplemental contribution under Formula (1) or (2) below: (1) A uniform percentage (as specified by the Employer) of each Member’s 's contributions not in excess of a maximum percentage (if the Employer elects to impose such a maximum) of the Member’s 's Salary which were received by the Plan during the Plan Year with respect to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made on or before the last day of the second month in the Plan Year following the Plan Year described in the preceding sentence on behalf of all those Members who were employed with the Employer on the last working day of the Plan Year with respect to which the supplemental contribution relates. (2) A uniform dollar amount per Member or a uniform percentage (limited to a specific dollar amount, if elected by the Employer) of each Member’s 's Salary for the Plan Year (or, at the election of the Employer, the Employer’s 's fiscal year) to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made within the time prescribed by law, including extensions of time, for filing of the Employer’s 's federal income tax return on behalf of all those Members who have completed 1,000 Hours of Service during the Plan Year (or fiscal year), were employed with the Employer on the last working day of the Plan Year (or the fiscal year), or retired, died or terminates employment due to a Disability during the Plan Year (or fiscal year) to which the supplemental contribution relates. The Employer may, at its option, elect to make a contribution under this paragraph to only those Members who’s whose Salary is less than an amount to be specified by the Employer to the extent that such Salary limit is less than the dollar amount under Section 414(q) of the Code for such year. The percentage contributed under this Formula (2) shall be limited in accordance with the Employer’s 's matching formula and basic contribution rate, if any, under this Article such that the sum of the Employer’s Formula (2) supplemental contribution plus all other Employer contributions under this Article shall not exceed 15% of Salary for such year.'s Formula

Appears in 1 contract

Samples: Adoption Agreement (CCSB Financial Corp)

Supplemental Contributions by Employer. An Employer may, at its option, make a supplemental contribution under Formula (1) or (2) below: (1) A uniform percentage (as specified by the Employer) of each Member’s contributions not in excess of a maximum percentage (if the Employer elects to impose such a maximum) of the Member’s Salary which were received by the Plan during the Plan Year with respect to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made on or before the last day of the second month in the Plan Year following the Plan Year described in the preceding sentence on behalf of all those Members who were employed with the Employer on the last working day of the Plan Year with respect to which the supplemental contribution relates. (2) A uniform dollar amount per Member or a uniform percentage (limited to a specific dollar amount, if elected by the Employer) of each Member’s Salary for the Plan Year (or, at the election of the Employer, the Employer’s fiscal year) to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made within the time prescribed by law, including extensions of time, for filing of the Employer’s federal income tax return on behalf of all those Members who have completed 1,000 Hours of Service during the Plan Year (or fiscal year), were employed with the Employer on the last working day of the Plan Year (or the fiscal year), or retired, died or terminates employment Employment due to a Disability during the Plan Year (or fiscal year) to which the supplemental contribution relates. The Employer may, at its option, elect to make a contribution under this paragraph to only those Members who’s whose Salary is less than an amount to be specified by the Employer to the extent that such Salary limit is less than the dollar amount under Code Section 414(q) of the Code for such year. The percentage contributed under this Formula (2) shall be limited in accordance with the Employer’s matching formula and basic contribution rate, if any, under this Article such that the sum of the Employer’s Formula (2) supplemental contribution plus all other Employer contributions under this Article shall not exceed 15% of Salary for such year.

Appears in 1 contract

Samples: Adoption Agreement (First Savings Financial Group Inc)

Supplemental Contributions by Employer. An Employer may, at its option, make a supplemental contribution under Formula (1) or (2) below: (1) A uniform percentage (as specified by the Employer) of each Member’s 's contributions not in excess of a maximum percentage (if the Employer elects to impose such a maximum) of the Member’s 's Salary which were received by the Plan during the Plan Year with respect to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made on or before the last day of the second month in the Plan Year following the Plan Year described in the preceding sentence on behalf of all those Members who were employed with the Employer on the last working day of the Plan Year with respect to which the supplemental contribution relates. (2) A uniform dollar amount per Member or a uniform percentage (limited to a specific dollar amount, if elected by the Employer) of each Member’s 's Salary for the Plan Year (or, at the election of the Employer, the Employer’s 's fiscal year) to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made within the time prescribed by law, including extensions of time, for filing of the Employer’s 's federal income tax return on behalf of all those Members who have completed 1,000 Hours of Service during the Plan Year (or fiscal year), were employed with the Employer on the last working day of the Plan Year (or the fiscal year), or retired, died or terminates employment due to a Disability during the Plan Year (or fiscal year) to which the supplemental contribution relates. The Employer may, at its option, elect to make a contribution under this paragraph to only those Members who’s whose Salary is less than an amount to be specified by the Employer to the extent that such Salary limit is less than the dollar amount under Section 414(q) of the Code for such year. The percentage contributed under this Formula (2) shall be limited in accordance with the Employer’s matching formula and basic contribution rate, if any, under this Article such that the sum of the Employer’s Formula (2) supplemental contribution plus all other Employer contributions under this Article shall not exceed 15% of Salary for such year.such

Appears in 1 contract

Samples: Adoption Agreement (Allied First Bancorp Inc)

Supplemental Contributions by Employer. An Employer may, at its option, make a supplemental contribution under Formula (1) or (2) below: (1) A uniform percentage (as specified by the Employer) of each Member’s 's contributions not in excess of a maximum percentage (if the Employer elects to impose such a maximum) of the Member’s 's Salary which were received by the Plan during the Plan Year with respect to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made on or before the last day of the second month in the Plan Year following the Plan Year described in the preceding sentence on behalf of all those Members who were employed with the Employer on the last working day of the Plan Year with respect to which the supplemental contribution relates. (2) A uniform dollar amount per Member or a uniform percentage (limited to a specific dollar amount, if elected by the Employer) of each Member’s 's Salary for the Plan Year (or, at the election of the Employer, the Employer’s 's fiscal year) to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made within the time prescribed by law, including extensions of time, for filing of the Employer’s 's federal income tax return on behalf of all those Members who have completed 1,000 Hours of Service during the Plan Year (or fiscal year), were employed with the Employer on the last working day of the Plan Year (or the fiscal year), or retired, died or terminates employment due to a Disability during the Plan Year (or fiscal year) to which the supplemental contribution relates. The Employer may, at its option, elect to make a contribution under this paragraph to only those Members who’s whose Salary is less than an amount to be specified by the Employer to the extent that such Salary limit is less than the dollar amount under Section 414(q) of the Code for such year. The percentage contributed under this Formula (2) shall be limited in accordance with the Employer’s matching formula and basic contribution rate, if any, under this Article such that the sum of the Employer’s Formula (2) supplemental contribution plus all other Employer contributions under this Article shall not exceed 15% of Salary for such year.Section

Appears in 1 contract

Samples: Adoption Agreement (Atlantic Coast Federal Corp)

Supplemental Contributions by Employer. An Employer may, at its option, make a supplemental contribution under Formula (1) or (2) below: (1) A uniform percentage (as specified by the Employer) of each Member’s 's contributions not in excess of a maximum percentage (if the Employer elects to impose such a maximum) of the Member’s 's Salary which were ' received by the Plan during the Plan Year with respect to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made on or before the last day of the second month in the Plan Year following the Plan Year described in the preceding sentence on behalf of all those Members who were employed with the Employer on the last working day of the Plan Year with respect to which the supplemental contribution relates. (2) A uniform dollar amount per Member or a uniform percentage (limited to a specific dollar amount, if elected by the Employer) of each Member’s 's Salary for the Plan Year (or, at the election of the Employer, the Employer’s 's fiscal year) to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made within the time prescribed by law, including extensions of time, for filing of the Employer’s 's federal income tax return on behalf of all those Members who have completed 1,000 Hours of Service during the Plan Year (or fiscal year), were employed with the Employer on the last working day of the Plan Year (or the fiscal year), or retired, died or terminates employment due to a Disability during the Plan Year (or fiscal year) to which the supplemental contribution relates. The Employer may, at its option, elect to make a contribution under this paragraph to only those Members who’s whose Salary is less than an amount to be specified by the Employer to the extent that such Salary limit is less than the dollar amount under Section 414(q) of the Code for such year. The percentage contributed under this Formula (2) shall be limited in accordance with the Employer’s 's matching formula and basic contribution rate, if any, under this Article such that the sum of the Employer’s 's Formula (2) supplemental contribution plus all other Employer contributions under this Article shall not exceed 15% of Salary for such year.

Appears in 1 contract

Samples: Adoption Agreement (Suntrust Banks Inc)

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Supplemental Contributions by Employer. An Employer may, at its option, make a supplemental contribution under Formula (1) or (2) below: (1) A uniform percentage (as specified by the Employer) of each Member’s =s contributions not in excess of a maximum percentage (if the Employer elects to impose such a maximum) of the Member’s =s Salary which were received by the Plan during the Plan Year with respect to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made on or before the last day of the second month in the Plan Year following the Plan Year described in the preceding sentence on behalf of all those Members who were employed with the Employer on the last working day of the Plan Year with respect to which the supplemental contribution relates. (2) A uniform dollar amount per Member or a uniform percentage (limited to a specific dollar amount, if elected by the Employer) of each Member’s =s Salary for the Plan Year (or, at the election of the Employer, the Employer’s fiscal year) to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made within the time prescribed by law, including extensions of time, for filing of the Employer’s =s federal income tax return on behalf of all those Members who have completed 1,000 Hours of Service during the Plan Year (or fiscal year), were employed with the Employer on the last working day of the Plan Year (or the fiscal year), or retired, died or terminates employment Employment due to a Disability during the Plan Year (or fiscal year) to which the supplemental contribution relates. The Employer may, at its option, elect to make a contribution under this paragraph to only those Members who’s whose Salary is less than an amount to be specified by the Employer to the extent that such Salary limit is less than the dollar amount under Code Section 414(q) of the Code for such year. The percentage contributed under this Formula (2) shall be limited in accordance with the Employer’s matching formula and basic contribution rate, if any, under this Article such that the sum of the Employer’s Formula (2) supplemental contribution plus all other Employer contributions under this Article shall not exceed 15% of Salary for such year.

Appears in 1 contract

Samples: Adoption Agreement (Cape Bancorp, Inc.)

Supplemental Contributions by Employer. An Employer may, at its option, make a supplemental contribution under Formula (1) or (2) below: (1) A uniform percentage (as specified by the Employer) of each Member’s =s contributions not in excess of a maximum percentage (if the Employer elects to impose such a maximum) of the Member’s =s Salary which were received by the Plan during the Plan Year with respect to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made on or before the last day of the second month in the Plan Year following the Plan Year described in the preceding sentence on behalf of all those Members who were employed with the Employer on the last working day of the Plan Year with respect to which the supplemental contribution relates. (2) A uniform dollar amount per Member or a uniform percentage (limited to a specific dollar amount, if elected by the Employer) of each Member’s =s Salary for the Plan Year (or, at the election of the Employer, the Employer’s 's fiscal year) to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made within the time prescribed by law, including extensions of time, for filing of the Employer’s =s federal income tax return on behalf of all those Members who have completed 1,000 Hours of Service during the Plan Year (or fiscal year), were employed with the Employer on the last working day of the Plan Year (or the fiscal year), or retired, died or terminates employment Employment due to a Disability during the Plan Year (or fiscal year) to which the supplemental contribution relates. The Employer may, at its option, elect to make a contribution under this paragraph to only those Members who’s whose Salary is less than an amount to be specified by the Employer to the extent that such Salary limit is less than the dollar amount under Code Section 414(q) of the Code for such year. The percentage contributed under this Formula (2) shall be limited in accordance with the Employer’s 's matching formula and basic contribution rate, if any, under this Article such that the sum of the Employer’s 's Formula (2) supplemental contribution plus all other Employer contributions under this Article shall not exceed 15% of Salary for such year.

Appears in 1 contract

Samples: Adoption Agreement (Sugar Creek Financial Corp./Md/)

Supplemental Contributions by Employer. An Employer may, at its option, make a supplemental contribution under Formula (1) or (2) below: (1) A uniform percentage (as specified by the Employer) of each Member’s contributions not in excess of a maximum percentage (if the Employer elects to impose such a maximum) of the Member’s Salary which were received by the Plan during the Plan Year with respect to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made on or before the last day of the second month in the Plan Year following the Plan Year described in the preceding sentence on behalf of all those Members who were employed with the Employer on the last working day of the Plan Year with respect to which the supplemental contribution relates. (2) A uniform dollar amount per Member or a uniform percentage (limited to a specific dollar amount, if elected by the Employer) of each Member’s Salary for the Plan Year (or, at the election of the Employer, the Employer’s fiscal year) to which the supplemental contribution relates. If the Employer elects to make such a supplemental contribution, it shall be made within the time prescribed by law, including extensions of time, for filing of the Employer’s federal income tax return on behalf of all those Members who have completed 1,000 Hours of Service during the Plan Year (or fiscal year), were employed with the Employer on the last working day of the Plan Year (or the fiscal year), or retired, died or terminates employment due to a Disability during the Plan Year (or fiscal year) to which the supplemental contribution relates. The Employer may, at its option, elect to make a contribution under this paragraph to only those Members who’s whose Salary is less than an amount to be specified by the Employer to the extent that such Salary limit is less than the dollar amount under Section 414(q) of the Code for such year. The percentage contributed under this Formula (2) shall be limited in accordance with the Employer’s matching formula and basic contribution rate, if any, under this Article such that the sum of the Employer’s Formula (2) supplemental contribution plus all other Employer contributions under this Article shall not exceed 15% of Salary for such year.

Appears in 1 contract

Samples: Adoption Agreement (Ottawa Savings Bancorp, Inc.)

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