Automatic enrollment means a plan provision under which the employee will have a specified contribution made to a plan described in subsection (1) equal to a compensation reduction that will be made for the employee unless the employee affirmatively elects no compensation reduction contributions or a compensation reduction contribution in another amount.

Automatic enrollment means an employee retirement plan provision under which an employee will have a specified contribution made to the plan, equal to a compensation reduction, that will be made for the employee unless the employee affirmatively elects, in accordance with the federal "Pension Protection Act of 2006", Pub.L. 109-280, either not to have any compensation reduction contributions or a compensation reduction contribution in an alternative amount.

Automatic enrollment means an arrangement under which, in the absence of an affirmative election by an Eligible Employee, a certain amount of compensation may be automatically withheld from the Eligible Employee’s pay and contributed to the Plan as a Deferral.

Examples of Automatic enrollment in a sentence

Automatic enrollment in Xxxx Elective Deferrals is not permitted under the Plan.
Transfer of a member from a PHP to a CCO or DCO; (B) Involuntary transfer of a member from a PHP to another PHP; or (C) Automatic enrollment of a member in a PHP.
Automatic enrollment is shown to increase employee participation and higher retirement savings.
Automatic enrollment will be implemented as soon as administratively feasible.
Union Employees as collectively bargained to include 1 or both of the following arrangements: (A) Automatic enrollment of all non-participating Union represented employees as of a pre-determined effective date; (B) Automatic enrollment of all new Union represented employees hired on or after a pre-determined date.
Automatic enrollment, as described in Section 2.4 of the Base Plan Document, shall/ shall not apply.
Default Product (Automatic enrollment) ● Default Product○ Keene Local Green: The Program intends to offer Keene Local Green as its default product.
Automatic enrollment contributions made after such date remain in the Plan and are subject to the Plan's regular distribution rules.
There are 3 options for long-term disability: • Full LTD: Automatic enrollment in this plan occurs on the employee’s hiredate.
Automatic enrollment will be implemented as soon as administratively feasible upon agreement by all locals.

More Definitions of Automatic enrollment

Automatic enrollment means an employee retirement plan provision under which an employee will have a specified contribution made to the plan, equal to a compensation reduction, that will be made for

Automatic enrollment means an employee retirement plan provision under which an employee will