Xxxx Elective Deferral definition

Xxxx Elective Deferral. Means an Elective Deferral that is irrevocably designated as a Xxxx Elective Deferral by the Participant and that is treated by the Participant’s Employer as includible in a Participant’s gross income at the time of the salary reduction. Xxxx Elective Deferrals must be separately accounted for pursuant to the Plan or this Agreement and must satisfy any other applicable provisions of Treasury Regulation 1.403(b)-3(c).
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Xxxx Elective Deferral means a Participant’s Elective Deferral that (a) is includible in the Participant’s gross income at the time that the Elective Deferral is deferred, and (b) has been irrevocably designated as a Xxxx Elective Deferral by the Participant in his or her deferral election. A Participant’s Xxxx Elective Deferrals will be allocated to the Participant’s Xxxx Elective Deferral Account.
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Xxxx Elective Deferral is an elective deferral that is (a) designated irrevocably by the Member at the time of the cash or deferred election as a Xxxx elective deferral that is being made in lieu of all or a portion of the pre-tax elective deferrals the Member is otherwise eligible to make under the Plan; and (b) treated by the Employer as includible in the Member’s income at the time the Member would have received the amount in cash if the Member had not made a cash or deferred election.
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Examples of Xxxx Elective Deferral in a sentence

  • Commodification of fishing rights through the political and legal sanctioning of transferability creates conditions institutions, and social relations to varying degrees.

  • A Participant may/ may not elect to automatically increase his rate of Elective Deferral Contributions and/or Xxxx Elective Deferral Contributions.

  • If Xxxx Elective Deferrals are permitted under the Plan, the Participant shall also designate whether the Elective Deferral will be characterized as a pre-tax Elective Deferral or a Xxxx Elective Deferral.

  • Once an Employee becomes eligible to have Elective Deferral Contributions and/or Xxxx Elective Deferral Contributions made on his or her behalf under the Plan under this standard, the Employee cannot be excluded from eligibility to have Elective Deferral Contributions and/or Xxxx Elective Deferral Contributions made on his or her behalf in any later year under this standard.

  • As set out below, you may elect to reduce your compensation and make a contribution to your retirement savings account as a Pre-Tax Elective Deferral or Xxxx Elective Deferral (but not both).

  • Within the Xxxx Elective Deferral sub-account, the Plan will separately account for amounts converted pursuant to this Section 7.6 that were distributable at the time of conversion, amounts converted pursuant to this Section 7.6 that were not distributable at the time of conversion, and rollovers from other plans of Xxxx elective deferrals or Xxxx in-plan conversion amounts, as well as any gains or losses attributable thereto.

  • Contributions and withdrawals of Xxxx Elective Deferrals will be credited and debited to a separate Xxxx Elective Deferral sub-account maintained within the Participant’s Account.

  • No contributions other than Xxxx Elective Deferrals, adjusted in accordance with Article 5, will be credited to a Participant’s Xxxx Elective Deferral sub-account.

  • If different from above, Xxxx Elective Deferral provisions shall be effective January 1, 2009.

  • For distributions made after December 31, 2007, an Eligible Retirement Plan shall include a Xxxx XXX as described in Code Section 408A; however, for taxable years beginning prior to January 1, 2010, the income restrictions that apply to a rollover from a traditional IRA into a Xxxx XXX will continue to apply to Participant Accounts as defined in paragraph 5.1 other than a Xxxx Elective Deferral Account.


More Definitions of Xxxx Elective Deferral

Xxxx Elective Deferral. An Elective Deferral that is (1) designated irrevocably by the Participant at the time of the Compensation reduction election (or any change thereto) as a “designated Xxxx contribution”, as defined in Code section 402A(c)(1), that is being made in lieu of all or a portion of the pre-tax Elective Deferrals the Participant is otherwise eligible to make under the Plan; and (2) treated by the Employer as includible in the Participant’s income at the time the Participant would have received that amount in cash if the Participant had not made a Compensation reduction election.
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Xxxx Elective Deferral means an Elective Deferral that is:
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Related to Xxxx Elective Deferral

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Plan Year means the calendar year.

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • Non-Highly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Plan Year(s means the approximate twelve-month periods between annual meetings of the shareholders of the Company, which, for purposes of the Plan, are the periods for which annual retainers are earned.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee’s account under any plan of an Employer or a Related Company solely on account of “elective contributions” made on his behalf or “employee contributions” made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Election Year means a year in which ordinary elections for local governments are required to be held;

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • Deferrals means the amount of the Director’s Compensation that the Director elects to defer according to this Agreement.

  • Limitation Year means the Plan Year.

  • Non-Highly Compensated Participant means any Participant who is neither a Highly Compensated Employee nor a Family Member.

  • Deferral means the amount or amounts of a Participant’s Compensation deferred under the provisions of Section 3.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Elective Contribution means the Employer contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess “annual additions” pursuant to Section 4.11(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.7(b) which is used to satisfy the “Actual Deferral Percentage” tests shall be considered an Elective Contribution for purposes of the Plan. Any contributions deemed to be Elective Contributions (whether or not used to satisfy the “Actual Deferral Percentage” tests or the “Actual Contribution Percentage” tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the nondiscrimination requirements of Regulation 1.401(k)-1(b)(5) and Regulation 1.401(m)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Matching Contributions are contributions made by the Employer on account of elective deferrals under a Code Section 401(k) arrangement or on account of employee contributions. Matching contributions also include Participant forfeitures allocated on account of such elective deferrals or employee contributions.

  • Employee Contributions are contributions made by a Participant on an after-tax basis, whether voluntary or mandatory, and designated, at the time of contribution, as an employee (or nondeductible) contribution. Elective deferrals and deferral contributions are not employee contributions. Participant nondeductible contributions, made pursuant to Section 4.01 of the Plan, are employee contributions.