Common use of Transmission of Elective Deferrals Clause in Contracts

Transmission of Elective Deferrals. An Employer shall deposit such Elective Deferrals into the Participant’s SIMPLE IRA under the Plan in a form and manner acceptable to the Custodian and as soon as such contributions can be reasonably segregated from the Employer’s general assets, but no later than the close of the 30-day period following the last day of the month in which the amounts were withheld from the Employee’s Compensation.

Appears in 4 contracts

Samples: Simple Ira Plan Agreement, Simple Ira Plan Agreement, Simple Ira Plan Agreement

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