Additional Automatic Enrollment Provisions Clause Samples

The "Additional Automatic Enrollment Provisions" clause establishes rules for automatically enrolling eligible individuals, such as employees, into a plan or program without requiring them to take action. Typically, this clause outlines the criteria for eligibility, the default contribution rates or plan options, and the process for opting out or making changes. By setting these automatic procedures, the clause helps increase participation rates and ensures compliance with regulatory requirements, while also simplifying administration for employers and reducing the risk of individuals missing out on benefits due to inaction.
Additional Automatic Enrollment Provisions. Automatic enrollment made in accordance with Section 5.03(c) of the Basic Plan Document is subject to the following: (1) An initial pre-tax Deferral Contribution of 3.00% will be made for: (A) Newly-eligible Employees on each such Employee’s Entry Date. (B) Each Eligible Employee having a Reemployment Commencement Date will be treated as follows for purposes of the above-described automatic enrollment contributions: (i) Shall not be automatically enrolled.
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Additional Automatic Enrollment Provisions. Automatic enrollment made in accordance with Section 5.03(c) of the Basic Plan Document is subject to the following: (1) An initial pre-tax Deferral Contribution of 3.00% will be made for: (A) Newly-eligible Employees on each such Employee’s Entry Date. (B) Each Eligible Employee having a Reemployment Commencement Date will be treated as follows for purposes of the above-described automatic enrollment contributions: (i) Shall be automatically enrolled later of 30 days from date of rehire or Entry Date.
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Related to Additional Automatic Enrollment Provisions

  • Automatic Extension At the end of the initial term and any subsequent ------------------- term, this Agreement shall automatically renewed for a five (5) year term unless one of the parties provides the other party with written notice of intent not to renew, not less than one hundred eighty (180) day prior to the expiration of the then current term.

  • Automatic Payments You can agree with a seller who accepts PayPal to use PayPal as the payment method for future purchases with that seller. This agreement is between you and the seller and allows you to pay the seller on a one-time, regular or sporadic basis. Depending on the seller you wish to pay, you might also be able to directly instruct PayPal to make future payments to the seller on your behalf on a one-time, regular or sporadic basis. Examples of automatic payments that can be arranged by you either with a seller or with PayPal include those that PayPal calls a “billing agreement,” "subscription," "recurring payment,” “reference transaction,” "preauthorised transfer" or "preapproved payment." You authorise and instruct PayPal to pay the third party (or another person they direct) amounts from your payment method for the amounts you agree to owe and as presented to PayPal by that third party. You may cancel an automatic payment up to 3 business days before the date of the next scheduled payment from your account settings or by contacting us. Once you contact PayPal to cancel an automatic payment, all future automatic payments under your agreement with that seller will be stopped. If you cancel an automatic payment, you may still owe the seller money for the purchase or have additional obligations to the seller for any goods or services that you receive but have not paid for. If you have authorised an automatic payment and PayPal performs currency conversion for an automatic payment transaction, PayPal will use the transaction exchange rate (including PayPal's currency conversion fee) in effect at the time the automatic payment transaction is processed.

  • Termination of 401(k) Plan At Parent’s written request, delivered no later than fifteen (15) days prior to the Closing, the Company shall terminate the Furmanite Corporation 401(k) Savings and Investment Plan (the “Company 401(k) Plan”) effective immediately prior to the Closing Date and contingent upon the occurrence of the Closing, and upon such termination, shall cease all further contributions to the Company 401(k) Plan for pay periods beginning on and after the Closing Date and, to the extent the Company 401(k) Plan provides for loans to participants, and upon such termination, shall cease making any such additional loans effective immediately prior to the Closing Date. If Parent does not instruct the Company to terminate the Company 401(k) Plan, nothing herein shall be deemed to prevent the Surviving Corporation or Parent from terminating the Company 401(k) Plan following the Closing in accordance with applicable Law. In the event that Parent instructs the Company to terminate the Company 401(k) Plan, (a) prior to the Closing Date and thereafter (as applicable), the Company and Parent shall take any and all action as may be required, including amendments to the Company 401(k) Plan and/or the corresponding 401(k) plan sponsored or maintained by Parent or one of its Subsidiaries (the “Parent 401(k) Plan”) to comply with applicable Law, (b) subject to the receipt of a favorable IRS determination letter with respect to the termination of the Company 401(k) Plan, to permit each employee of the Company and its Subsidiaries who continues to be employed by Parent or its Subsidiaries (including, for the avoidance of doubt the Surviving Corporation and its Subsidiaries) immediately following the Effective Time (each, a “Continuing Employee”) to make rollover contributions of “eligible rollover distributions” (within the meaning of Section 401(a)(31) of the Code, including of loans) in cash or notes (in the case of loans) in an amount equal to the eligible rollover distribution portion of the account balance distributable to such Continuing Employee from the Company 401(k) Plan to the corresponding Parent 401(k) Plan, and (c) upon any termination of the Company 401(k) Plan in accordance with this Section 6.03, the Continuing Employees shall be eligible to participate, effective as of the Effective Time, in the Parent 401(k) Plan.

  • LEAST RESTRICTIVE ENVIRONMENT/DUAL ENROLLMENT CONTRACTOR and ▇▇▇ shall follow all LEA policies and procedures that support Least Restrictive Environment (“LRE”) options and/or dual enrollment options if available and appropriate, for students to have access to the general curriculum and to be educated with their nondisabled peers to the maximum extent appropriate. CONTRACTOR and ▇▇▇ shall ensure that LRE placement options are addressed at all IEP team meetings regarding students for whom ISAs have been or may be executed. This shall include IEP team consideration of supplementary aids and services, goals and objectives necessary for placement in the LRE and necessary to enable students to transition to less restrictive settings. When an IEP team has determined that a student should be transitioned into the public school setting, CONTRACTOR shall assist the LEA in implementing the IEP team’s recommended activities to support the transition.

  • REFERENCED CONTRACT PROVISIONS Term provision and Amount Not To Exceed provision, of the Contract are deleted in their entirety and replaced with the following: Period One means the period from July 1, 2018 through June 30, 2019 Period Two means the period from July 1, 2019 through June 30, 2020 Period Three means the period from July 1, 2020 through June 30, 2021 Period Four means the period from July 1, 2021 through June 30, 2022 Period Five means the period from July 1, 2022 through June 30, 2023 Period One Amount Not To Exceed: $ 1,104,767 Period Two Amount Not To Exceed: 1,104,767 Period Three Amount Not To Exceed: 1,104,767 Period Four Amount Not To Exceed: 1,287,723 Period Five Amount Not To Exceed: 1,446,490 TOTAL AMOUNT NOT TO EXCEED: $ 6,048,514”