Salary Reduction definition
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).
Salary Reduction means the amount by which the Participant’s Compensation is reduced and applied by the Employer under this Health Care FSA to pay for Benefits and the Administrative Fee, before any applicable state and federal taxes have been deducted from the Participant’s Compensation.
Salary Reduction means a specified amount by which a Participant’s Compensation is decreased, pursuant to a Salary Reduction Election, for federal income tax and Social Security tax purposes and, wherever permitted, under applicable law for state and local income tax purposes.
Examples of Salary Reduction in a sentence
A Participant's Salary Reduction Contributions under Election 5b.
Participants may make Salary Reduction Contributions from accumulated sick pay, from accumulated vacation pay or from back pay.
Participants may not make Salary Reduction Contributions from accumulated sick pay, from accumulated vacation pay or from back pay.
The Employer will determine its Matching Contribution based on Salary Reduction Contributions made during each (Choose one of e.
If a Participant's Salary Reduction Contributions are suspended pursuant to a provision of the Plan (e.g., distribution due to military leave covered by the HEART Act), then a Participant's Affirmative Election will expire on the date the period of suspension begins unless otherwise elected below.
More Definitions of Salary Reduction
Salary Reduction means an election by a Participant to have the Compensation that would otherwise be payable reduced and contributed by the Employer to the Plan as a regular contribution on behalf of the Participant.
Salary Reduction means the amount by which the Participant’s Compensation is reduced and applied by the Employer under this Plan, as permitted, before any applicable Social Security and federal taxes have been deducted from the Participant’s compensation (i.e., on a pre-tax basis).
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 provided under this Plan.
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
Salary Reduction means: (a) the voluntary reduction of an Employee’s Compensation made in consideration of such Employee’s participation in the Pre-Tax Premiums and/or Flexible Spending Accounts pursuant to an Election, and (b) the dollar amount of such reduction.
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 before any applicable state and/or federal taxes have been deducted from the Participant’s Compensation (i.e. Pre-tax basis).
Salary Reduction means: (a) the voluntary reduction of an Employee’s Compensation made in consideration of such Employee’s participation in the Premium Only Plan, Flexible Spending Accounts, and/or the Health Savings Account pursuant to an Election; and (b) the dollar amount of such reduction.