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

  • Any Employee who is eligible to make a Voluntary or Required After-tax Contribution or an Elective Deferral or Xxxx Elective Deferral (if the Employer takes such contributions into account in the calculation of the Actual Contribution Percentage), or to receive a Matching Contribution (including forfeitures) or a Qualified Matching Contribution.

  • Forfeitures may not be allocated to a Xxxx Elective Deferral Account and no contributions other than designated Xxxx Elective Deferrals will be allocated.

  • If elected in the Adoption Agreement, Direct Rollover contributions described in Code Section 402A(c)(3) are permitted to be allocated to the Xxxx Elective Deferral Account.

  • A Direct Rollover from a Xxxx Elective Deferral account under a qualified cash or deferred arrangement may only be made to another designated Xxxx account under an applicable retirement plan described in Code Section 402A(e)(1) or to a Xxxx XXX described in Code Section 408A, and only to the extent the rollover is permitted under the rules of Code Section 402(c).

  • Each Participant’s Xxxx Elective Deferral Account shall continue to be maintained and administered separately until it is completely distributed.

  • The Xxxx Elective Deferral account is the required separate account maintained to record the contribution and withdrawal of a Participant’s Xxxx Contributions and other adjustments as required by the Plan.

  • An exception to the foregoing timing rule on deposits to the Trust is available where the earlier remittance of Elective Deferral or Xxxx Elective Deferral amounts is on account of bona fide administrative considerations (as more fully described in the Income Tax regulations), and that the timing of such remittance is not made for the principal purpose of accelerating deductions.

  • If a Key Employee makes an Elective Deferral or Xxxx Elective Deferral or has an allocation of Matching Contributions credited to his or her account, a Top-Heavy minimum contribution will be required for non-Key Employees who are Participants.

  • Forfeitures may not be allocated to the Xxxx Elective Deferral Account.

  • A Xxxx Elective Deferral must satisfy the requirements applicable to Elective Deferrals made under a qualified cash or deferred arrangement.


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: (a) irrevocably designated by the Participant at the time the Participant elects to make a cash or deferred election under Section 3.1 of the Plan as a Xxxx Elective Deferral that is being made in lieu of all or a portion of the Elective Deferrals the Participant is otherwise eligible to make under the Plan; and (b) 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 cash or deferred election.
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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 mean Compensation and Elective Deferrals for: . [Note: The Employer must complete the blank line with the applicable time period for computing the Basic Match, such as "each payroll period," "each calendar month," "each Plan Year quarter" or "the Plan Year."]

  • 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 an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of a Participant's Deferral Contribution.

  • 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's contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess "annual additions" pursuant to Section 4.10(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.6 shall be considered an Elective Contribution for purposes of the Plan. Any such contributions deemed to be Elective Contributions shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the discrimination requirements of Regulation 1.401(k)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Elective Contributions are amounts excludible from the Employee's gross income under Code Sections 125, 402(a)(8), 402(h) or 403(b), and contributed by the Employer, at the Employee's election, to a Code Section 401(k) arrangement, a Simplified Employee Pension, cafeteria plan or tax-sheltered annuity. The term "Compensation" does not include:

  • Matching Contributions means local cash and/or in-kind contributions made by the Subrecipient, subcontractor, or other local resources that qualify as match for the Contract funding.