Examples of Profit Sharing Contribution in a sentence
Your share of the profit sharing contribution is determined by the following fraction: Profit Sharing Contribution X Your Compensation Total Compensation of All Participants Eligible toShare For example: Suppose the profit sharing contribution for the Plan Year is $20,000.
Profit Sharing Contributions will be allocated to the Profit Sharing Contribution Accounts of each Participant eligible to share in such allocations after the end of the Plan Year.
Profit Sharing Contribution – A Profit Sharing Contribution is a contribution your Employer may choose to make each year based on the formula in the Plan document for Participants who meet the Profit Sharing Contribution eligibility requirements.
Profit Sharing Contributions The Company may, in its sole discretion, make a Profit Sharing Contribution to the Plan on your behalf.
Please note that if you are an Eligible Employee and terminate employment with the Company due to death, disability or attainment of Normal Retirement Age you will be eligible to receive a Profit Sharing Contribution regardless of whether you meet any service requirement and/or last day requirement described in this Section.