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.
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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.
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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.
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Examples of Salary Redirection Agreement in a sentence

  • On or after the first xxx of the plan year I cannot change or revoke this Salary Redirection Agreement with respect to pre-tax premiums before the next anniversary date of the plan unless a "change in status" occurs (as defined under the plan and IRS).

  • The maximum pre-tax premiums a Participant can contribute via the Salary Redirection Agreement is the total cost of the applicable benefit plans or policies selected minus any non-elective contribution made by the Employer.


More Definitions of Salary Redirection Agreement

Salary Redirection Agreement means an agreement between the Participant and the
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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.
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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
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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.
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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.
Sample 1
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.
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Related to Salary Redirection Agreement

  • Salary Reduction Agreement means an agreement between a dis- trict and an employee to reduce the employee’s salary for the pur- pose of making direct contributions to or purchases of a qualified investment product. Art. 6228a-5, Sec. 4(5), Tex. Rev. Civ. Stat.

  • Salary reduction plan means a benefit plan whereby state and

  • Participation Agreement means a written agreement entered into between a Participant and the Employer pursuant to the provisions of Section 4.1

  • Designation Agreement means a designation agreement in substantially the form of Exhibit G attached hereto, entered into by a Bank and a Designated Lender and accepted by the Administrative Agent.

  • Adoption Agreement means the written agreement pursuant to which the Employer adopts the Plan. The Adoption Agreement is a part of the Plan as applied to the Employer.

  • Termination Agreement has the meaning set forth in the Recitals.

  • Participant Account means that separate account maintained under the Plan to record the amount that a Participant has contributed to the Plan during an Offering Period.

  • Allocation Agreement or “Agreement” shall mean this NMTC Program Allocation Agreement between the Fund and the Allocatee and Subsidiary Allocatee, as the case may be, including the Organization Specific Terms and Conditions (Schedule 1) and the General Allocation Terms and Conditions (Schedule 2) and any attachments hereto, as such Agreement may, from time to time, be amended in accordance with its terms.

  • Authorised Participant Agreement means, in respect of an Authorised Participant, the authorised participant agreement (as amended, supplemented, novated and/or replaced from time to time) entered into by the Issuer and such Authorised Participant.

  • Diversion agreement means a mechanism designed to hold a child accountable for his or her behavior and, if appropriate, securing services to serve the best interest of the child and to provide redress for that behavior without court action and without the creation of a formal court record;

  • Affiliation Agreement means a written agreement between a chartered program and any person that sets forth the roles and responsibilities of the parties, is signed by the individuals with authority to sign contracts, and provides for any of the following:

  • Salary Reduction means the amount by which the Participant's Compensation is reduced and applied by the Employer under this Plan to pay for one or more of the Benefits, as permitted for the applicable Component, before any applicable state and/or federal taxes have been deducted from the Participant's Compensation (i.e., on a pre-tax basis).