Common Contracts
1 similar Salary Reduction Agreement contracts
ContractSalary Reduction Agreement • October 17th, 2016
Matching Deferral Contributions: The Employee’s salary will be reduced by the amount indicated above. At the same time, the Institution will contribute a corresponding amount to the Employee’s annuity contracts (or custodial accounts), which the Employee will allocate among the funding vehicles approved by the Institution. I understand that my contributions are limited to the legal maximum allowed under IRS Codes when this agreement went into effect. This amount will produce a total Institution contribution that does not exceed the Employee’s statutory limitation under IRC Section 415 or Section 402(g), whichever is less.
