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

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Nonelective Contribution means an amount contributed by a participating

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Catch-Up Contributions means Salary Reduction Contributions made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are Age 50 or over by the end of their taxable years. An “otherwise applicable Plan limit” is a limit in the Plan that applies to Salary Reduction Contributions without regard to Catch-up Contributions, such as the limits on Annual Additions, the dollar limitation on Salary Reduction Contributions under Code Section 402(g) (not counting Catch-up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500.

  • Employer Contributions means all amounts paid into ASRS by an

  • Matching Contributions are contributions made by the Employer on account of elective deferrals under a Code Section 401(k) arrangement or on account of employee contributions. Matching contributions also include Participant forfeitures allocated on account of such elective deferrals or employee contributions.

  • Member contributions means all amounts paid to ASRS by a member.

  • 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.

  • Employee Contributions are contributions made by a Participant on an after-tax basis, whether voluntary or mandatory, and designated, at the time of contribution, as an employee (or nondeductible) contribution. Elective deferrals and deferral contributions are not employee contributions. Participant nondeductible contributions, made pursuant to Section 4.01 of the Plan, are employee contributions.

  • 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.

  • Accumulated contributions means the sum of all

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • Member contribution means a contribution under regulation 32;