Salary Redirection Agreement definition

Salary Redirection Agreement means an agreement between the Participant and the Employer under which the Participant agrees to reduce his Compensation or to forego all or part of the increases in such Compensation and to have such amounts contributed by the Employer to the Plan on the Participant's behalf. The Salary Redirection Agreement shall apply only to Compensation that has not been actually or constructively received by the Participant as of the date of the agreement (after taking this Plan and Code Section 125 into account) and, subsequently does not become currently available to the Participant.

Salary Redirection Agreement means an agreement between the Participant and the Employer under which the Participant agrees to reduce his Compensation or to forego all or part of the increases in such Compensation and to have such amounts contributed by the Employer to the Plan on the Participant’s behalf. The Salary Redirection Agreement shall apply only to Compensation that has not been actually or constructively received by the Participant as of the date of the agreement (after taking this Plan and Code Section 125 into account) and, subsequently does not become currently available to the Participant.

Salary Redirection Agreement means the actual agreement between the Employee and Employer authorizing the Employer to deduct amounts from the Employee’s wages to pay for Qualified Transportation Expenses.

Examples of Salary Redirection Agreement in a sentence

• The amount of such Salary Redirection shall be specified in the Salary Redirection Agreement and shall be applicable for a Plan Year.

• Notwithstanding the above, for new Participants, the Salary Redirection Agreement shall only be applicable from the first day of the pay period following the Employee's entry date up to and including the last day of the Plan Year.

• An Eligible Employee shall also be required to complete a Salary Redirection Agreement during the Election Period for the Plan Year during which he wishes to participate in this Plan.

• However, a Participant may revoke a Benefit election or a Salary Redirection Agreement after the Plan Year has commenced and make a new election with respect to the remainder of the Plan Year, if both the revocation and the new election are on account of and consistent with a change in status and such other permitted events as determined under Article V of the Plan and consistent with the rules and regulations of the Department of the Treasury.

• Any such Salary Redirection Agreement shall be effective for the first pay period beginning on or after the Employee's effective date of participation pursuant to the Section titled: "Effective Date of Participation".

More Definitions of Salary Redirection Agreement

Salary Redirection Agreement or “SRA” means the actual or deemed agreement pursuant to which an eligible Employee or Participant elects to contribute his share of the cost of chosen Benefit Plans or Policies with Pre-tax or After-tax Contributions and/or Benefit Credits (if offered under the Plan) in accordance with Article III herein. If the Employer utilizes an interactive voice response (IVR) system or web-based program for enrollment, the SRA may be maintained on an electronic database in accordance with all applicable federal and/or state laws.

Salary Redirection Agreement means a written agreement signed by the Participant voluntarily agreeing to reduce his/her Compensation for the purpose of paying premiums for the Group Medical Insurance Plans and/or the Group Disability Plans.

Salary Redirection Agreement means an agreement between the Participant and the

Salary Redirection Agreement means an agreement between the Participant and the Employer under which the Participant agrees to reduce his Compensation or to forego all or part of the increases in such Compensation and to have such amounts contributed by the Employer to the Plan on

Salary Redirection Agreement means an agreement by and between the Eligible Employee and his or her Employer entered into during the applicable Annual Enrollment Election Period whereby the Eligible Employee agrees to a reduction in Compensation for the purpose of purchasing Benefits and which for all purposes hereunder are deemed to be Employer contributions. A Participant will enter into such agreement by making an election, on a timely basis, in a manner prescribed by the Plan Administrator.

Salary Redirection Agreement means an agreementbetweenthe Participant andthe Employerunderwhichthe Participant agrees to reduce his or her Compensation or to forego all or part of the increases in such Compensation and to have such amounts contributed by the Employer to the Plan on the Participant's behalf. The Salary Redirection Agreement shall apply only to Compensation that has not beenactually or constructivelyreceived by the Participant as of thedate of theagreement(aftertakingthis Planand CodeSection 125 into account) and, subsequently does not become currently available to the Participant.

Salary Redirection Agreement means c;m agreement between the Participant and the Employer under which the Participant agrees to reduce his Compensation or to forego all or part of the