Xxxx Contributions. As part of your deferral elections, you must indicate the percentage that will be deferred on a pre-tax basis, and the percentage that will be deferred as a "Xxxx contribution". Xxxx contributions are after-tax contributions, so they will be included in your taxable income and subject to income tax withholding. However, Xxxx contributions are not taxed when distributed from the Plan and earnings on those contributions can also be received tax-free if certain IRS requirements are satisfied.
Appears in 6 contracts
Samples: Retirement Enrollment Agreement, Retirement Enrollment Agreement, Retirement Enrollment Agreement
Xxxx Contributions. As part of your deferral elections, you must indicate the percentage that will be deferred on a pre-tax basis, and the percentage that will be deferred as a "Xxxx contribution". Xxxx contributions are after-tax contributions, so they will be included in your taxable income and subject to income tax withholding. However, Xxxx contributions are not taxed when distributed from the Plan and earnings on those contributions can also be received tax-free if certain IRS requirements are satisfied. You can make separate Xxxx contribution elections for the "Employer Match" and "Additional Contributions" deferrals.
Appears in 2 contracts
Samples: oru.edu, Reduction Agreement
