Matching Limit definition

Matching Limit means, with respect to a Participant, the maximum designated percentage of 401(k) Compensation of such Participant that, if contributed by such Participant to the Savings and Retirement Plan, is eligible for a matching contribution under the Matching Formula of the Savings and Retirement Plan under which such Participant is eligible to make contributions.
Sample 1Sample 2Sample 3
Matching Limit means, for any Plan Year, the excess of: (a) the lesser of: (i) $17,000 or (ii) the product of the Adjusted Matching Percentage times the sum of the Participant's Projected Gross Compensation, over (b) the product of 4% times the lesser of: (i) the Statutory Limit under Section 401(a)(17) of the Code on compensation that may be taken into account under the Savings Plan for the Plan Year, or (ii) the excess of a Participant's Projected Gross Compensation over the Participant's Projected SRP Deferral and Projected EDP Deferral.
Sample 1Sample 2Sample 3
Matching Limit means the maximum amount of the aggregate Before-Tax and After-Tax Contributions with respect to which an Employer will make an Employer Matching Contribution.
Sample 1Sample 2

Examples of Matching Limit in a sentence

  • The Matching Percentage and Matching Limit for a Participant for any Plan Year shall be determined in good faith by the Administrator as of December 31 of the immediately preceding calendar year.

  • Matching Limit on Elective Deferrals:In determining the Employer matching contribution above, only the following will be matched.

  • Notwithstanding the foregoing provisions of this Section 7.1, in no event shall a Matching Award be granted to a Participant at any Investment Date which would result in such Participant having received in the aggregate (taking into account all prior Matching Awards) the opportunity to receive Shares pursuant to Matching Awards having a Fair Market Value (measured at the Grant Date for each such Matching Award) greater than the Participant’s Aggregate Matching Limit.

  • The Company's Matching Credit in each Plan Year shall equal the product of the Participant's Annual Deferral for such Plan Year times the Matching Percentage for the Plan Year; provided, however, that in no event shall the Matching Credit credited to a Participant's Account in any Plan Year exceed the Matching Limit for such Plan Year.

  • The Matching Percentage and Matching Limit for a Participant for 11607380684.7 any Plan Year shall be determined in good faith by the Administrator as of December 31 of the immediately preceding calendar year.

  • The Company’s Matching Credit in each Plan Year shall equal the product of the Participant’s Annual Deferral for such Plan Year times the Matching Percentage for the Plan Year; provided, however, that in no event shall the Matching Credit credited to a Participant’s Account in any Plan Year exceed the Matching Limit for such Plan Year.

  • Subject to the limitations of this Article, if the sum of an Active Participant's Matched Before-Tax Contributions and Matched After-Tax Contributions (stated as a percentage of Compensation) equals the Matching Limit, the Participant may elect to reduce his or her Compensation (in addition to any reduction under section 4.1(a)) by a whole percentage pursuant to a Compensation Reduction Agreement.

  • The Company's Matching Credit in each Plan Year shall equal the product of the Participant's Annual Deferral for such Plan Year times the Matching Percentage for the Plan Year; provided, however, that in no event shall the Matching 11609967859.4 Credit credited to a Participant's Account in any Plan Year exceed the Matching Limit for such Plan Year.

  • Subject to the limitations of this Article, if the sum of an Active Participant’s Matched Before-Tax and Matched After-Tax Contributions (stated as a percentage of Compensation) equals the Matching Limit, the Participant may elect to contribute to the Plan pursuant to a Payroll Deduction Agreement (in addition to any Matched After-Tax Contributions under section 4.1(b)) a whole percentage of his or her Compensation.

  • As stated in the consolidated financial statements, impairment loss of approximately HK$59,996,000 was recognised on the prepayments and deposits paid during the year ended 31 December 2011.


More Definitions of Matching Limit

Matching Limit means the designated percentage of compensation of Participant contributions to the Savings and Retirement Plan that are eligible for a matching contribution under the Savings and Retirement Plan.
Sample 1Sample 2
Matching Limit means any limit on the value or number of Shares which will be subject to a Matching Share Award which the Board decides under rule 6.3 (Terms of Matching Share Awards), and which may be expressed as a value of each Contribution or a number of Investment Shares purchased, or otherwise;
Sample 1

Related to Matching Limit

  • Matching Contribution means an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of an Employee Contribution made by such Participant, or on account of a Participant's Elective Deferral, under a plan maintained by the Employer.

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

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • 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).

  • Qualified Matching Contributions means any Participating Employer Contributions to this Plan on behalf of Eligible Employees, provided that amounts attributable to such contributions are not distributable merely on account of the Employee’s hardship and are immediately vested.

  • Matching Period has the meaning specified in Section 5.4(1)(e).

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Elective Deferrals mean Compensation and Elective Deferrals for: . [Note: The Employer must complete the blank line with the applicable time period for computing the Basic Match, such as "each payroll period," "each calendar month," "each Plan Year quarter" or "the Plan Year."]

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Matching Contribution Account means that portion of a Participant’s Account established to record Matching Contributions on behalf of a Participant. Matching Contributions shall be deemed to be invested in the Company stock, and a Participant shall not be permitted to elect a different Deemed Crediting Option for such Matching Contributions.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Matching means the trading mode through which sell orders are assigned to appropriate buy orders to ensure the maximisation of economic surplus for single day-ahead or intraday coupling;

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Plan Year means the calendar year.

  • Actual Deferral Percentage means, with respect to a Plan Year, the ratio (expressed as a percentage) of the amount of Tax Deferred Contributions made pursuant to Section 4.01(a) and Qualified Nonelective Non-ESOP Contributions made on behalf of the Participant for the Plan Year to the Participant’s Testing Compensation for the Plan Year.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Non-Highly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Nonhighly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • Nonelective Contribution means an amount contributed by a participating

  • Non-Highly Compensated Participant means any Participant who is neither a Highly Compensated Employee nor a Family Member.

  • Employer Contributions means the amount transferred by an employer to a funding account or a health reimbursement account.