Discretionary Matching Contributions definition

Discretionary Matching Contributions means the contributions made by an Employer pursuant to Section 4.3(b) as an additional match to a Participant’s Elective Contributions.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Discretionary Matching Contributions means the contributions made by an Employer to the Trust Fund on behalf of a Participant subject to the conditions and limitations described in Plan section 4.3(b).

Discretionary Matching Contributions means (i) Discretionary Matching Contributions made to this Plan for a Participant pursuant to Section 3.5(a) and (ii) matching contributions made for the Participant pursuant to the Superseded Plan prior to September 1, 1998.

Examples of Discretionary Matching Contributions in a sentence

If this Plan is also utilizing a Safe Harbor Contribution, pursuant to Section VII of this Adoption Agreement, Discretionary Matching Contributions may not exceed 4% of Compensation.
Discretionary Matching Contributions will be allocated to each Participant’s Account on a pro-rata basis based on the ratio each Participant’s matchable savings contributions for the Plan Year bear to the total matchable savings contributions from all Participants in the Plan.
The Employer in its Adoption Agreement must elect the type(s) of Matching Contributions (Fixed or Discretionary Matching Contributions), and as applicable, the Matching Contribution rate(s)/amount(s), the limit(s) on Elective Deferrals or Employee Contributions subject to match, the limit(s) on the amount of Matching Contributions, and the time period the Plan Administrator will apply in the computation of any Matching Contributions.
To the extent the Employer makes Discretionary Matching Contributions, the Plan Administrator will allocate the Discretionary Matching Contributions to the Account of each Participant entitled to the match under the Employer's discretionary matching allocation formula and who satisfies the allocation conditions for Discretionary Matching Contributions, if any, the Employer elects in its Adoption Agreement.
The Employer's election to match Catch-Up Deferrals will apply to all Matching Contributions or will specify the Fixed Matching Contributions or Discretionary Matching Contributions which apply to the Catch-Up Deferrals.
Amounts in the Forfeiture Account which have been forfeited shall be utilized to restore Accounts, pay Plan fees and expenses and reduce Company Matching Contributions, Company Corrective Matching Contributions, Company Qualified Non-Elective Contributions, Parthenon Company Profit Sharing Contributions, Sterling Steel Contributions, Western Pneumatic Tube Contributions, and/or Company Discretionary Matching Contributions, as directed by the Administrative Committee.
Additional Matching Contributions are Fixed or Discretionary Matching Contributions ("Fixed Additional Matching Contributions" or "Discretionary Additional Matching Contributions") the Employer makes to its Safe Harbor 401(k) Plan (including a Safe Harbor 401(k) Plan the Employer elected into during the Plan Year under Section 3.05(I)(1)) and are not Safe Harbor Matching Contributions.
No Company Discretionary Matching Contributions shall be made with respect to a Participant’s Catch-Up Contributions.
Except as provided in Section 3.03(C)(2), the Employer in its Adoption Agreement must elect the type(s) of Matching Contributions (Fixed or Discretionary Matching Contributions), and as applicable, the Matching Contribution rate(s)/amount(s), the limit(s) on Elective Deferrals or Employee Contributions subject to match, the limit(s) on the amount of Matching Contributions, and the time period the Plan Administrator will apply in the computation of any Matching Contributions.
The Employer’s election to match Catch-Up Deferrals will apply to all Matching Contributions or will specify the Fixed Matching Contributions or Discretionary Matching Contributions which apply to the Catch-Up Deferrals.

More Definitions of Discretionary Matching Contributions

Discretionary Matching Contributions means the contributions made by the Participating Employers to the Trust from time to time in the discretion of the Committee with respect to Participants' Before-Tax and After-Tax Contributions in accordance with the provisions of Section 3.4(b).

Discretionary Matching Contributions means any discretionary contributions that may made by the Company to the Plan on behalf of a Participant with respect to the Participant’s Elective Deferrals pursuant to Section 5.1 of the Plan.

Discretionary Matching Contributions means the contributions made by an Employer to the Trust Fund on behalf of a Participant subject to the conditions and Employer discretion as described in section 4.3(b).

Discretionary Matching Contributions means the contributions made by the Company pursuant to Section 3.1(a)(v) (Discretionary Matching Contributions) which are based on the Participant's Elective Deferrals.