Tax Deferred Contributions Sample Clauses

Tax Deferred Contributions. Commencing with the date as of which an Eligible Employee becomes a Participant, he may elect to have Tax Deferred Contributions of not less than one percent nor more than 16 percent of his Compensation made to the Plan on his behalf by his Employer. Tax-Deferred Contributions on behalf of a Participant shall commence with the first payment of Compensation made on or after the date on which his election is effective which cannot precede the earlier of (i) the performance of services relating to the Tax-Deferred Contributions and (ii) when the Compensation that is subject to the election would be payable to the Participant in the absence of an election to defer unless necessary to accommodate a bona fide administrative concern, the primary purpose to which is not to accelerate deductions. In no event, however, may the Tax Deferred Contributions (excluding Catch-Up Contributions, if any) made to the Plan on his behalf during any calendar year when aggregated with all of his other elective deferrals under any other plan, contract, or arrangement of an Employer or a Related Corporation, exceed the “applicable limit” for the Participant’s taxable year beginning in the calendar year. The “applicable limit” for a Participant’s taxable year beginning in the 2006 calendar year is $15,000 and for each subsequent calendar year is an adjusted amount established by the Secretary of the Treasury pursuant to Section 402(g)(5) of the Code. In the event a Participant elects to have his Employer make any Tax Deferred Contribution on his behalf, the Compensation of such Participant shall be reduced by the percentage he elected to have contributed in accordance with the terms of the Compensation reduction authorization in effect for such Participant pursuant to paragraph (a) of Section 2.1, subject, however, to the $15,000 (as adjusted) annual aggregate limitation on cash or deferred contributions, including Tax Deferred
Sample 1
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Tax Deferred Contributions. The Company shall make a Tax Deferred Contribution to the Trust for each Compensation pay period on behalf of each Participant who has entered into a Salary Reduction Agreement, equal to the amount specified in said Salary Reduction Agreement. Notwithstanding anything herein to the contrary, Tax Deferred Contributions shall be subject to the limitations described in Article VI of the Plan.
Sample 1
Tax Deferred Contributions. For each month, the Company shall make a Tax Deferred Contribution to the Trust on behalf of each Participant who has entered into a Salary Reduction Agreement equal to the amount specified in said Salary Reduction Agreement. In addition to the Tax Deferred Contributions made by the Company pursuant to the preceding sentence, the Company may, in order to cause the test in Section 6.02(a)(i) or (ii) and/or the test in Section 6.04(a)(i) or (ii) to be satisfied for a Plan Year, make a special Tax Deferred Contribution to the Trust for such Plan Year, which special Tax Deferred Contribution shall be in an amount determined by the Company in its sole discretion and shall be allocated for the benefit of all Participants who are employed on the last day of such Plan Year and are not Highly Compensated Employees either (i) in proportion to each such Participant's Compensation for such Plan Year or (ii) in equal dollar amounts on a per capita basis, as shall be designated by the Company at the time such special Tax Deferred Contribution is made. Notwithstanding anything hereinabove to the contrary, Tax Deferred Contributions shall be subject to the limitations described in Article VI of the Plan.
Sample 1
Tax Deferred Contributions 
Sample 1

Related to Tax Deferred Contributions

  • Company Contributions The Company shall continue to make a Company Contribution for Plan Years 2017, 2018 and 2019, on the same terms and conditions set forth in the Participant Agreement, with the performance metrics and targets in connection with such Company Contributions for such Plan Years to be established in the sole discretion of the Committee, following consultation with the Chief Executive Officer of the Company.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Tax-Deferred Earnings The investment earnings of your Xxxx XXX are not subject to federal income tax as they accumulate in your Xxxx XXX. In addition, distributions of your Xxxx XXX earnings will be free from federal income tax if you take a qualified distribution, as described below.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement. 8.2 Contributions shall be recorded on a remittance form and remitted to the designated recipient of such contributions on or before the fifteenth (15) day of the month following the month for which contributions are to be made. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds, as liquidated damages and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter, interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 8.3 The amounts to be designated as wages and/or Employer contributions to the above funds may be varied from time to time by agreement between the Association and the Union. 8.4 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Funds, including provisions for audit security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. 8.5 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 8.6 All employer contributions due and payable to the above funds, except industry promotion funds, shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds and industry promotion funds are not wages or benefits due to an employee and industry promotion funds are dues for services rendered by the Association. 8.7 The Business Representative of the Local Union may inspect, during regular business hours, the Company's record of time worked by employees and contributions to the plan. 8.8 The Employer shall be responsible for the payment of any government sales taxes applicable to any trust fund contributions payable by the Employer.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

  • 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. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Pension Contributions While on leave pursuant to Section B. of this Article, an employee may make contributions to the appropriate State pension system and will receive service credit for the time the employee is on unpaid leave.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

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