Corrective contributions definition

Corrective contributions means any contributions that are paid
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Corrective contributions means any contributions that are paid by an employer pursuant to section 38‑771.01, subsection C, paragraph 3 and that are attributable to employer contributions that should have been made for prior limitation years.
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Corrective contributions means the contributions made by an Employer pursuant to Section 5.3.
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Examples of Corrective contributions in a sentence

  • Corrective contributions are required to be made with respect to a participant with an account under the plan.

  • Corrective contributions are required to be made with respect to a current or former participant, without regard to the amount of the corrective contributions.

  • Corrective contributions may need to be made to a single employer DB pension plan if the spousal choice option discussed in this section is to be offered to the affected spouse.

  • Corrective contributions on behalf of the employee would be required.• If employee otherwise informed and able to make elective deferrals, then correction may involve revising practices and procedures going forward.

  • The first trip happened in March 2017, when he met with Litfin and Francis in person, and they made him the offer to join CastleRock.

  • Therefore, provided that the other eligibility requirements of SCP are satisfied, Employer J may use SCP to correct the failure.• No fees for self correction.• Practices and procedures must be in place.• If the mistakes are significant in the aggregate:o Corrective contributions for the 2005 plan year need to be made by the end of 2007.


More Definitions of Corrective contributions

Corrective contributions means any contributions that are paid by 7 an employer pursuant to section 38-771.01, subsection C, paragraph 3 and that 8 are attributable to employer contributions that should have been made for 9 prior limitation years.
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Related to Corrective contributions

  • Nonelective Contribution means an amount contributed by a participating

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Contributions means the payroll deductions and other additional payments specifically provided for in the Offering that a Participant contributes to fund the exercise of a Purchase Right. A Participant may make additional payments into his or her account if specifically provided for in the Offering, and then only if the Participant has not already had the maximum permitted amount withheld during the Offering through payroll deductions.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Accumulated contributions means the sum of all

  • Matching Contribution means an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of a Participant's Deferral Contribution.