Compensation Reduction Contributions definition
Examples of Compensation Reduction Contributions in a sentence
In the event that the aggregate amount of Compensation Reduction Contributions for a Participant exceeds the limitation in the previous sentence, the amount of such excess, increased by any gains and decreased by any losses attributable thereto, shall be refunded to the Participant no later than the April 15th of the calendar year following the calendar year for which the Compensation Reduction Contributions were made.
The amount of the Participant's Compensation Reduction Contributions, and Rollover Contributions shall be invested in the Investment Funds designated until such time as the Participant changes his investment election pursuant to Section 6.2(c).
Employer Compensation Reduction Contributions shall be paid to the Trustee as soon as practicable after being withheld from Participants' Compensation but in no event shall such contributions be paid to the Trustee later than the time prescribed by law for making such contributions.
An Eligible Employee's actual deferral ratio shall be zero if no Compensation Reduction Contributions are made on his behalf for such Plan Year.
Notwithstanding the foregoing, the Committee may, upon written notice to the Highly Compensated Participants, reduce or suspend such Highly Compensated Participants' Compensation Reduction Contributions as may be necessary to ensure compliance with the requirements of Sections 401(k) and 401(m) of the Code and IRS Regulations thereunder.
The Company or its designee will maintain an Account in your name reflecting your Compensation Reduction Contributions together with any adjustments for income, gain or loss, and any payments from the Account.
As of the last business day of the Plan Year, any Special Employer Contribution shall be allocated to the Compensation Reduction Account of each Participant who is not a Highly Compensated Employee for the Plan Year, pro rata, according to such Participant's Employer Compensation Reduction Contributions for the Plan Year.
If the Plan and one or more other plans of the Employer to which Compensation Reduction Contributions or Employer Contributions are made are treated as one plan for purposes of Sections 401(a)(4) and 410(b) of the Code, Compensation Reduction Contributions or Employer Contributions of such plans shall be treated as being made under a single plan for purposes of this Section 5.1(d).
Employer Compensation Reduction Contributions shall be allocated and credited to the Compensation Reduction Accounts of Participants on whose behalf such contributions were made as soon as practicable following the date such contributions are deposited with the Trustee.
The Compensation Reduction Contributions made on behalf of an Active Participant for any Plan Year shall not exceed the greater of $14,000 or the amount specified in Code section 402(g)(1) (as adjusted for changes in the cost of living pursuant to rules of the Internal Revenue Service).