Exit Contribution definition

Exit Contribution has the meaning set out in paragraph 2.14.2 of Part 1 of this Schedule.
Sample 1
Exit Contribution means: the revised contributions required by the Administering Authority from the Supplier or any Sub-contractor set out in a rates and adjustment certificate arising as a result of a valuation carried out under regulation 64(2) of the LGPS Regulations; or the revised contributions required by the Administering Authority from a Supplier or any Sub-contractor set out in the actuary's certificate prepared in the circumstances set out in regulation 64(4) of the LGPS Regulations
Sample 1
Exit Contribution has the meaning set out in paragraph 3.14.2;
Sample 1

Examples of Exit Contribution in a sentence

  • DBFM Co (and/or any relevant Service Provider) shall be responsible for any part of any Exit Contribution arising on termination of the Admission Agreement which relates to any unpaid contributions due under the Admission Agreement up to the date of termination of the Admission Agreement in so far as those unpaid contributions related to any amount payable under Clause 26.2.4(a).

  • The Authority shall be responsible for paying an amount equal to the Exit Contribution to the Administering Authority for immediate credit to the LGPS.

  • As such, an Employer’s failure to make an Exit Contribution constitutes a delinquency and will be treated in the same manner as any other delinquent Contribution.

  • An Employer described in subsection (a) above shall pay an Exit Contribution after the expiration of its collective bargaining agreement if it ceased to have an obligation to contribute to the Fund as a result of such expiration, and it did not enter into a successor collective bargaining agreement requiring contributions to the Fund.

  • The amount of an Employer’s Exit Contribution is equal to the amount of the Employer’s Contributions due for the 36-month period preceding the month in which the Employer ceased to have an obligation to contribute to the Fund.

  • Any such decision by the Trustees to waive an Exit Contribution shall have no precedential effect, and should not be construed as an indication that the Trustees will decide to waive an Exit Contribution in the future under similar facts and circumstances.

  • Notwithstanding anything to the contrary, the Trustees may waive an Exit Contribution imposed under this Article V, Section 6 if the Trustees decide, in their sole and absolute discretion, that such waiver is appropriate based on the facts and circumstances.

  • The Exit Contribution shall be paid no later than the 20th day of the month following the month in which the Fund assessed the Exit Contribution by sending written demand for the payment of the Employer’s Exit Contribution.

  • While the actual cost of the Employer’s cessation of its obligation to contribute to the Fund cannot be precisely quantified, the Exit Contribution is designed to cover a portion of the costs associated with the loss of contribution income to the Fund, which it uses to fund its accrued liabilities.

  • The Exit Contribution is a type of Contribution that an Employer is obligated to make under the Trust Document (which is incorporated by reference in the Plan Document).


More Definitions of Exit Contribution

Exit Contribution means either;
Sample 1

Related to Exit Contribution

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Cash Contribution refers to a direct payment of Contribution in Canadian currency.

  • 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.

  • In-kind contribution means a contribution of goods or services received by a candidate committee, joint candidates committee, political committee, continuing political committee, political party committee, or legislative leadership committee, which contribution is paid for by a person or entity other than the recipient committee, but does not include services provided without compensation by an individual volunteering a part of or all of his or her time on behalf of a candidate or committee.

  • Cash contributions means the re- cipient’s cash outlay, including the outlay of money contributed to the re- cipient by third parties.

  • Company Contribution means that portion of the main extension costs which the Company will fund based upon the following formula:

  • Member contribution means a contribution under regulation 32;

  • Campaign Contribution means a gift, subscription, loan, advance or deposit of money or other thing of value, including the estimated value of an in-kind contribution, that is made to or received by an applicable public official or any person authorized to raise, collect or expend contributions on that official’s behalf for the purpose of electing the official to either statewide or local office. “Campaign Contribution” includes the payment of a debt incurred in an election campaign, but does not include the value of services provided without compensation or unreimbursed travel or other personal expenses of individuals who volunteer a portion or all of their time on behalf of a candidate or political committee, nor does it include the administrative or solicitation expenses of a political committee that are paid by an organization that sponsors the committee.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee’s account under any plan of an Employer or a Related Company solely on account of “elective contributions” made on his behalf or “employee contributions” made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Defined Contribution Plan A retirement plan which provides for an individual account for each participant and for benefits based solely on the amount contributed to the participant's account, and any income, expenses, gains and losses, and any forfeitures of accounts of other participants which the plan may allocate to such participant's account. The Advisory Committee must treat all defined contribution plans (whether or not terminated) maintained by the Employer as a single plan. Solely for purposes of the limitations of Part 2 of this Article III, the Advisory Committee will treat employee contributions made to a defined benefit plan maintained by the Employer as a separate defined contribution plan. The Advisory Committee also will treat as a defined contribution plan an individual medical account (as defined in Code Section 415(l)(2)) included as part of a defined benefit plan maintained by the Employer and, for taxable years ending after December 31, 1985, a welfare benefit fund under Code Section 419(e) maintained by the Employer to the extent there are post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code Section 419A(d)(3)).

  • Contribution Date has the meaning set forth in Section 4.3 hereof.

  • Qualifying contribution means, with respect to a

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Elective Contribution means the Employer contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess “annual additions” pursuant to Section 4.11(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.7(b) which is used to satisfy the “Actual Deferral Percentage” tests shall be considered an Elective Contribution for purposes of the Plan. Any contributions deemed to be Elective Contributions (whether or not used to satisfy the “Actual Deferral Percentage” tests or the “Actual Contribution Percentage” tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the nondiscrimination requirements of Regulation 1.401(k)-1(b)(5) and Regulation 1.401(m)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Defined Contribution Plan Fraction means a fraction, the numerator of which is the sum of the Annual Additions to the Member's account under all the defined contribution plans (whether or not terminated) maintained by the Employer for the current and all prior Limitation Years (including the Annual Additions attributable to the Member's nondeductible employee contributions to all defined benefit plans, whether or not terminated, maintained by the Employer, and the Annual Additions attributable to all welfare benefit funds, individual medical accounts, and simplified employee pensions, maintained by the Employer), and the denominator of which is the sum of the maximum aggregate amounts for the current and all prior Limitation Years of service with the Employer (regardless of whether a defined contribution plan was maintained by the Employer). The maximum aggregate amount in any Limitation Year is the lesser of (i) 125 percent of the dollar limitation under Code Section 415(c)(1)(A) after adjustment under Code Section 415(d) or (ii) 35 percent of the Member's Compensation for such year. If the Employee was a member as of the end of the first day of the first Limitation Year beginning after December 31, 1986, in one or more defined contribution plans maintained by the Employer which were in existence on May 6, 1986, the numerator of this fraction will be adjusted if the sum of this fraction and the Defined Benefit Plan Fraction would otherwise exceed 1.0 under the terms of this Plan. Under the adjustment, an amount equal to the product of (i) the excess of the sum of the fractions over 1.0 times (ii) the denominator of this fraction, will be permanently subtracted from the numerator of this fraction. The adjustment is calculated using the fractions as they would be computed as of the end of the last Limitation Year beginning before January 1, 1987, and disregarding any changes in the terms and conditions of the plan made after May 5, 1986, but using the Code Section 415 limitation applicable to the first Limitation Year beginning on or after January 1, 1987. The Annual Addition for any Limitation Year beginning before January 1, 1987, shall not be recomputed to treat all employee contributions as Annual Additions.

  • Charitable contribution means any donation or gift of money or any other thing of value.

  • 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.

  • In-kind contributions means services and goods as approved by the department that are provided by a grant recipient toward completion of a department-approved local snowmobile program under section 82107.

  • Payments in lieu of contributions means the money payments to

  • 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.

  • Discretionary Contribution means the contribution made by the Employer on behalf of a Participant as described in Section 4.4(b).

  • Initial Contribution means that contribution each Participant has made or agrees to make pursuant to Section 5.1.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Annual Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Company Contribution Amount means, for any one Plan Year, the amount determined in accordance with Section 3.5.