Mandatory Employee Contribution definition

Mandatory Employee Contribution means an Employee Contribution that equals the specified percentage of a Participant’s Compensation which the Participant must contribute to the Plan in order to receive an allocation of Employer contributions and Forfeitures for the Allocation Period.
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Mandatory Employee Contribution means Participant contributions which are to be made as a condition of employment with the Employer. Pursuant to Code Section 414(h), and upon authorization by the Internal Revenue Service, such contributions shall be picked up by the Employer and shall be deemed to be Employer contributions which are not taxable income to the Employee.
Sample 1
Mandatory Employee Contribution. Employees will contribute 1% of the employee's salary.
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Examples of Mandatory Employee Contribution in a sentence

  • The Employer must specify the time period to which any Mandatory Employee Contribution formula will apply (which is deemed to be the Plan Year if the Employer does not so specify).

  • The Mandatory Employee Contribution is a condition of employment.

  • That means that, unlike the compensation that you actually receive, the amount of the Mandatory Employee Contribution (and all of the earnings accumulated while it is invested in the Plan) will not be taxed in the year it is contributed to the Plan.

  • So if you were to leave your Employer, you would be entitled to the full Mandatory Employee Contribution balance (plus earnings).

  • A Mandatory Employee Contribution is a pre-tax Employee contribution which the Employee agrees to make as a condition of employment.

  • The amount of your Compensation that is contributed to the Plan as a Mandatory Employee Contribution will be contributed on a pre-tax basis.

  • You are required to contribute five percent of your Compensation into the Plan as a Mandatory Employee Contribution.

  • An Eligible Employee may make, on or before first being eligible to participate under any plan of the Employer, an irrevocable election to contribute to the Plan the Mandatory Employee Contribution.

  • Mandatory Employee Contribution means a pre-tax Employee contributionwhich the Employee agrees to make as a condition of employment.

  • In parts of the literature there are researchers who suggest SDT methods are a way to discover “blue ocean” type solutions, completely changing the way the “need” is understood and reformulating it to arrive at new solutions.

Related to Mandatory Employee Contribution

  • Employee Contribution means any contribution made to the Plan by or on behalf of a Participant that is included in the Participant's gross income in the year in which made and that is maintained under a separate account to which earnings and losses are allocated.

  • 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).

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.

  • Member contribution means a contribution under regulation 32;

  • 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.

  • Matching Contributions means local cash and/or in-kind contributions made by the Contractor, a subcontractor, or other local resources that qualify as match for the Contract funding.

  • Qualified Nonelective Contribution (QNEC) means the Employer's contributions to the Plan that are made pursuant to Sections 12.1(a)(4), 12.5 and 12.7 or pursuant to any other Plan provision which provides for such contributions.

  • Safe Harbor has the meaning set forth in Section 10.2(d).

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.