Discretionary Matching Contribution definition
Examples of Discretionary Matching Contribution in a sentence
The Employer shall have the right to make a Discretionary Matching Contribution.
The Employer in its Adoption Agreement may elect to make a Discretionary Matching Contribution to the Plan.
If the Employer makes a Discretionary Matching Contribution, the Discretionary Matching Contribution will not apply as to Elective Deferrals exceeding % of the Participant's Compensation (complete the blank if applicable or leave blank).
Discretionary Matching Contribution means a Matching Contribution which the Employer in its sole discretion elects to make to the Plan.
The Employer under a Discretionary Matching Contribution retains discretion over the amount of its Matching Contributions, and, except as the Employer otherwise elects in its Adoption Agreement, the Employer also retains discretion over the matching formula.
If the Employer makes a Discretionary Matching Contribution, the Discretionary Matching Contribution will not apply as to Elective Deferrals exceeding % (may not exceed 6%) of the Participant's Compensation and the total discretionary Matching Contribution will not exceed 4% of Compensation.
The Employer retains discretion over the Discretionary Matching Contribution rate or amount, the limit(s) on Elective Deferrals or Employee Contributions subject to match, the per Participant match allocation limit(s), the Participants who will receive the allocation, and the time period applicable to any matching formula(s) (collectively, the "matching formula"), except as the Employer otherwise elects in its Adoption Agreement.
Participants who are NHCEs shall be eligible to share in any Company Qualified Non-Elective Contributions if they are also eligible (or, if made, would be eligible) for a Company Discretionary Matching Contribution for such Plan Year, as set forth in Subsection 5.2(b) hereof.
An Employer shall make any Company Discretionary Matching Contribution as soon as administratively reasonable after the end of the applicable Plan Year and, for purposes of deducting such Contributions, by not later than the Company’s federal tax filing date, including extensions.
The Trustee shall post such amount to each eligible Participant’s Company Discretionary Matching Contribution Account as soon as administratively reasonable after the total Contribution has been balanced against the specific amount to be credited to each Participant’s Company Discretionary Matching Contribution Account.