Nonelective Contributions means any amount that the Employer, in its sole discretion, may contribute on behalf of each Participant to provide benefits for such Participant and his or her Spouse and Dependents, if applicable, under one or more of the Benefit Plan(s) or Policy(ies) offered under the Plan. The amount of employer contribution that is applied towards the cost of the Benefit Plan(s) or Policy(ies) for each Participant and/or level of coverage shall be subject to the sole discretion of the Employer. The amount of Nonelective Contribution for each Participant may be adjusted upward or downward in the contributing Employer's sole discretion. The amount shall be calculated for each Plan Year in a uniform and nondiscriminatory manner and may be based upon the Participant's dependent status, commencement or termination date of the Participant's employment during the Plan Year, and such other factors as the Employer shall prescribe. To the extent set forth in the SPD or enrollment material, the Employer may make Nonelective Contributions available to Participants and allow Participants to allocate the Nonelective Contributions among the various Benefit Plans or Policies offered under the Plan in a manner set forth in the SPD of additional, taxable Compensation except as otherwise provided in the SPD or enrollment material.
Nonelective Contributions are contributions made by the Employer which are not subject to a deferral election by an Employee and which are not matching contributions.
Nonelective Contributions means nonelective contributions made by the Employer pursuant to Section 3.3(b).
Examples of Nonelective Contributions in a sentence
Employer contributions shall be deposited into the 403(b) account selected by employee to receive Employer contributions, provided such account will accept Employer Non-elective Contributions.
The following information pertains to all of my other employers for the current calendar year: Includible Earnings $ ; Elective Deferrals and/or salary reduction contributions to a Xxxx 403(b) or Xxxx 401(k) plan $ ; Non-elective Contributions $ .
If the employee does not designate a 403(b) account to receive Employer’s contributions, or if the account designated will not accept Employer’s Non-elective Contributions for any reason, then Employer shall deposit contributions, in the name of the employee, into the endorsed 403(b) program.
No employee may receive cash in lieu of or as an alternative to any of the Employer’s Non-elective Contribution(s) described herein.
More Definitions of Nonelective Contributions
Nonelective Contributions means the Employer contribution of two percent (2%) of Compensation of each Eligible Employee as described in Section 5.3(c).
Nonelective Contributions means contributions made by the Employer (other than Matching Contributions) with respect to which the Employee may not elect to receive the contributions in cash or other benefits instead of being contributed to the Plan.
Nonelective Contributions means Company contributions made on behalf of a Participant under Article V or this Article VIII, and any other employer contributions made under another qualified plan maintained by a member of the Affiliated Group with respect to which the Participant may not elect to receive the contribution in the form of cash or another benefit instead of having the contribution made to the plan.
Nonelective Contributions means a contribution made by the Employer to the Plan that is not a Pre-tax Contribution.
Nonelective Contributions means any amount that the Employer, in its sole discretion, may contribute on behalf of each Participant to provide benefits for such Participant and his or her Spouse and Dependents, if applicable, under one or more of the Reimbursement Account benefits offered under the Plan. The amount of Employer contribution that is applied towards the cost of the Reimbursement Account benefits(s) for each Participant and/or level of coverage shall be subject to the sole discretion of the Employer. The amount of Nonelective Contribution for each Participant may be adjusted upward or downward in the contributing Employer’s sole discretion. The amount shall be calculated for each Plan Year in a uniform and nondiscriminatory manner and may be based upon the Participant’s Dependent status,
Nonelective Contributions means the amounts contributed by the Employer pursuant to Section 3.04. Nonelective Contributions are intended to satisfy the safe harbor contribution requirement under Code Section 401(k)(11).
Nonelective Contributions means those contributions made by the Participant pursuant to Section 4.1.