Matched Contributions definition
Examples of Matched Contributions in a sentence
Any resulting required reductions under this Plan shall be made first to Unmatched Contributions, and second, on a pro rata basis, to Matched Contributions, and the Matching Contribution relating thereto.
Such designation shall apply equally to his Matched Contributions and Unmatched Contributions, if any.
For purposes of this Section 4.3, Matched Contributions means the sum of (i) the Before-Tax Contributions made on behalf of the Participant for a payroll period, excluding Before-Tax Contributions made with respect to any one-time lump sum preferred coverage bonus paid under a cafeteria plan described in section 125 of the Code maintained by any Employer, and (ii) the After-Tax Contributions made by the Participant for such payroll period.
The Employer shall make Employer Matching Contributions to each Participant's Employer Matching Contribution Account equal to 50% of Matched Contributions made by a Participant, beginning with a Participant's first Month of Participation following completion of one Year of Vesting Service; Notwithstanding the above, the Employer may decrease the Employer Matching Contribution allocable to any Participant if such decrease is necessary to ensure that the limitations of Sections 6.2 and 6.5 are satisfied.
Any Company Matched Contributions that are attributable to excess Compensation Redirection Amounts and that are not returned in accordance with Section 5.8 shall be treated as a mistaken contribution, shall be forfeited, shall be credited to and held in a suspense account and shall be applied to reduce the amount of Company Matched Contributions otherwise required of the Participating Companies for the next following Plan Years(s) until exhausted.