True Up Matching Contribution definition
True Up Matching Contribution means any Matching Contribution made to the Plan for a Plan Year that when aggregated with the Regular Matching Contributions made on a Participant's behalf for the Plan Year will provide Matching Contributions at the maximum rate specified in the Plan taking into account the Participant's Elective 403(b) Contributions, After- Tax Contributions, and Compensation for the full Plan Year.
True Up Matching Contribution means the contribution of each Employer for each Contribution Period (which shall be the Plan Year, as specified in Section 1.1(i)) that when aggregated with the Regular Matching Contributions made on each eligible Participant’s behalf for all Contribution Periods ending during the Plan Year will provide each such Participant with an Employer Matching Contribution at the maximum rate specified in paragraph (a) of this Section 3.1 taking into account the Participant’s Tax Deferred Contributions and/or Taxable Employee Contributions and Compensation for the full Plan Year. For purposes of this paragraph (b) an “eligible Participant” is a Participant who is eligible for an allocation of True Up Matching Contributions for the Plan Year pursuant to the provisions of Section 7.2.
True Up Matching Contribution means any Matching Contribution made to the Plan at an Employer’s discretion for a Plan Year that when aggregated with the Regular Matching Contributions made on a Participant’s behalf for the Plan Year will provide the maximum Matching Contribution based on the match rate in effect for the Plan Year taking into account the Participant’s 401(k) Contributions and Compensation for the full Plan Year. In the event the Employer does not affirmatively elect to make a True Up Matching Contribution for any Plan Year, the Employer shall be deemed to have elected to not make a True Up Matching Contribution for such Plan Year.
Examples of True Up Matching Contribution in a sentence
The True Up Matching Contribution for a Contribution Period shall be allocated among Participants who are Active Participants as of the last day of the Plan Year.