Code Section 415 Compensation for a Limitation Year means a Participant’s compensation within the meaning of Treasury Regulation Section 1.415(c)-2(d)(3), including any differential wage payments (as defined in Code Section 3401(h)(2)), that are actually paid or made available during such Limitation Year, subject to the following: (i) Code Section 415 Compensation shall exclude amounts paid after a Participant’s Severance from Employment, except for the following amounts paid within the later of 2-½ months after the Participant’s Severance from Employment or the end of the Limitation Year that includes the date of the Participant’s Severance from Employment; (ii) payments of unpaid wages, overtime, bonuses and commissions; and (iii) payments of unused accrued bona fide sick, vacation and paid time off leave that the Participant would have been able to use if employment had continued. Code Section 415 Compensation shall not include amounts in excess of the limitation under Code Section 401(a)(17) in effect for the Limitation Year.
Code Section 415 Compensation means for any Limitation Year, at the discretion of Chemed, compensation from, the Employer which meets any one of the following definitions:
Code Section 415 Compensation means:
(a) a Participant's wages, salaries, and fees for professional services, and other amounts received (without regard to whether or not an amount is paid in cash) for personal services actually rendered in the course of employment with the Employer maintaining the Plan to the extent that the amounts are includable in gross income (including, but not limited to, commissions paid salesmen, compensation for services on the basis of a percentage of profits, commissions on insurance premiums, tips, bonuses, fringe benefits, reimbursements, and expense allowances);
(b) in the case of a Participant who is an Employee within the meaning of Code Section 401(c) (1) and the regulations thereunder, the Participant's Earned income (as described in Code Section 401(c) (2) and the regulations thereunder);
(c) amounts described in Code Section 104 (a) (3), 105 (a) and 105 (h), but only to the extent that these amounts are includable in the gross income of the Employee;
(d) amounts paid or reimbursed by the Employer for moving expenses incurred by an Employee, but only to the extent that these amounts are not deductible by the Employee under Code Section 217;
(e) the value of a non-qualified stock option granted to an Employee by the Employer, but only to the extent that the value of the option is includable in the gross income of the Employee for the taxable year in which granted; and
(f) the amount includable in the gross income of an Employee upon making the election described in Code Section 83 (b) Subparagraphs (a) and (b) above include foreign earned income (as defined in Code Section 911(b)), whether or not excludable from gross income under Section 911. Code Section 415 Compensation does not include the following:
(a) Employer contributions to a plan of deferred compensation which are not included in the Employee's gross income for the taxable year in which contributed or Employer contributions under a simplified employee pension plan to the extent such contributions are deductible by the Employee, or any distributions from a plan of deferred compensation;
(b) amounts realized from the exercise of a non-qualified stock option, or when restricted stock (or property) held by the Employee either becomes freely transferable or is no longer subject to a substantial risk of forfeiture;
(c) amounts realized from the sale, exchange or other disposition of stock acquired under a qualified stock option; and
(d) other amounts which received special tax benefits, or contr...
Examples of Code Section 415 Compensation in a sentence
For purposes of paragraphs 1.56 and 1.59, Compensation shall be Code Section 415 Compensation as described in paragraph 1.17(c).
For purposes of paragraphs 1.52 and 1.55, Compensation shall be Code Section 415 Compensation as described in paragraph 1.16(c).
Rules Except as elected on the Adoption Agreement, for purposes of Article X and XIV, Compensation shall be Code Section 415 Compensation as described in paragraph 1.16(c).
Code Section 415 Compensation shall not include amounts in excess of the limitation under Code Section 401(a)(17) in effect for the Limitation Year.
X and XIV, Compensation shall be Code Section 415 Compensation as described in paragraph 1.17(c).
More Definitions of Code Section 415 Compensation
Code Section 415 Compensation means the Participant's wages and salaries for personal services actually rendered in the course of employment with the Employer maintaining the Plan paid or accrued during the Plan Year. Code Section 415 Compensation shall exclude (a)(1) contributions made by the Employer to a plan of deferred compensation to the extent that, before the application of the Code Section 415 limitations to the Plan, the contributions are not includable in the gross income of the Employee for the taxable year in which contributed, (2) Employer contributions made on behalf of an Employee to a simplified employee pension plan described in Code Section 408(k) to the extent such contributions are excludable from the Employee's gross income, and (3) any distributions from a plan of deferred compensation regardless of whether such amounts are includable in the gross income of the Employee when distributed except any amounts received by an Employee pursuant to an unfunded non-qualified plan to the extent such amounts are includable in the gross
Code Section 415 Compensation means, for any Plan Year, all compensation as defined in Treasury Regulations Section 1.415-2(d)(2) and (3) actually paid or made available to a Participant by the Employer or any member of the Controlled Group during the year, subject to the adjusted dollar limitation of Code Section 401(a)(17) in effect for the year. Notwithstanding anything to the contrary in Treasury Regulations Section 1.415-2(d)(2) or (3), for Plan Years beginning on and after January 1, 1998, Code Section 415 Compensation shall include any elective deferral (as defined in Code Section 402(g)(3)) to this Plan or to any other plan of the Controlled Group, and any amount which is contributed or deferred by the Employer at the election of the Participant and which is not includible in the gross income of the Participant by reason of Code Section 125 or, effective for Plan Years beginning on and after January 1, 2001, Code Section 132(f)(4).
Code Section 415 Compensation. The term Code Section 415 Compensation means Earned Income, wages, salaries, fees for professional services and other amounts received (without regard to whether or not an amount is paid in cash) for personal services actually rendered by an Employee in the course of employment with the Employer maintaining the Plan, including, but not limited to, commissions paid to salespersons, compensation for services' based on a percentage of profits, commissions on insurance premiums, tips, bonuses, fringe benefits, and reimbursements, or other expense allowances under a non-accountable plan as described in regulation Section 1.62-2(c). Code Section 415 Compensation will be determined subject to the following provisions:
(a) AMOUNTS EXCLUDED FROM CODE Section 415 COMPENSATION: Code Section 415 Compensation does not include (1) Employer contributions to a plan of deferred compensation which are not includible in gross income for the taxable year in which contributed, or Employer contributions to a simplified employee pension plan to the extent such contributions are deductible by the Employee, or any distributions from a plan of deferred compensation; (2) amounts realized from a non-qualified stock option, or when restricted stock or property held by the Employee either becomes freely transferable or is no longer subject to a substantial risk of forfeiture; (3) amounts realized from the sale, exchange or other disposition of stock acquired under a qualified stock option; and (4) other amounts which receive special tax benefits, or contributions made by an Employer (whether or not under a salary reduction agreement) towards the purchase of an annuity described in Code Section 403(b) (whether or not the amounts are excludible from an Employee's gross income).
Code Section 415 Compensation means a Participant’s taxable income as reported or reportable on Form W-2 for federal income tax purposes, increased by salary reduction amounts contributed to the Magellan 401(k) Plan or similar plan designated by the Committee and salary reduction amounts contributed to any cafeteria plan or flexible benefits plan established by the Company in accordance with Code Section 125 and related sections of the Code.
Code Section 415 Compensation for a Limitation Year means a Participant’s compensation within the meaning of Treasury Regulation Section 1.415(c)-2(d)(4), including, effective as of January 1, 2009, any differential wage payments (as defined in Code Section 3401(h)(2)), that is actually paid or made available during such Limitation Year, subject to the following:
Code Section 415 Compensation means:
Code Section 415 Compensation means with respect to any Participant such Participant's wages as defined in Code Section 3401(a) and all other payments of compensation by the Employer (in the course of the Employer's trade or business) for a Plan Year for which the Employer is required to furnish the Participant a written statement under Code Sections 6041(d), 6051(a)(3) and 6052, without regard to any rules under Code Section 3401(a) that limit the remuneration included in wages based on the nature or location of the employment or the services performed.