AMOUNT OF MATCHING CONTRIBUTIONS Sample Clauses

The "Amount of Matching Contributions" clause defines how much an employer will contribute to an employee's retirement or savings plan based on the employee's own contributions. Typically, this clause specifies a percentage or dollar-for-dollar match up to a certain limit; for example, an employer might match 50% of employee contributions up to 6% of their salary. This clause ensures employees understand the extent of employer support for their savings, promoting transparency and helping employees maximize their benefits.
AMOUNT OF MATCHING CONTRIBUTIONS. For each Plan Year, the Employer's matching contribution is: (Choose any combination of (1), (2), (3), (4) and (5))
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AMOUNT OF MATCHING CONTRIBUTIONS. Subject to the limitations contained in Sections 3.9 and 3.5.2, for each Plan Year the Employer will contribute in cash and/or Qualifying Employer Securities, Matching 401(k) Contributions to the Trust Fund in an amount, if any, calculated by reference to the Participants' Elective Deferrals as specified in the Adoption Agreement.
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AMOUNT OF MATCHING CONTRIBUTIONS. For each Plan Year, the Employer's matching contribution is: (Choose any combination of (1), (2), (3), (4) and (5)) (1) An amount equal to -----------% of each Participant's eligible contributions for the Plan Year. (2) An amount equal to -----------% of each Participant's first tier of eligible contributions for the Plan Year, plus the following matching percentage(s) for the following subsequent tiers of eligible contributions for the Plan Year: --------------------------------------. (3) Discretionary formula. (i) An amount (or additional amount) equal to a matching percentage the Employer from time to time may deem advisable of the Participant's eligible contributions for the Plan Year. (ii) An amount (or additional amount) equal to a matching percentage the Employer from time to time may deem advisable of each tier of the Participant's eligible contributions for the Plan Year. (4) An amount equal to the following percentage of each Participant's eligible contributions for the Plan Year, based on the Participant's Years of Service: Number of Years of Service Matching Percentage ----------- ------------ ----------- ------------ ----------- ------------ ----------- ------------ The Advisory Committee will apply this formula by determining Years of Service as follows: -------------------------------------------------. (5) A Participant's matching contribuitons may not: (Choose (i) or (ii)) (i) Exceed -------------------------------------------. (ii) Be less than -------------------------------------.
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AMOUNT OF MATCHING CONTRIBUTIONS. Subject to Option (i), for each Plan Year, the Employer's matching contribution is: (Choose any combination of (1), (2), (3) and (4)) (1) An amount equal to ----------% of each Participant's Salary Recuction contributions for the Plan Year. (2) An amount equal to ----------% of each Participant's first tier of Salary Reduction contributions for the Plan Year, plus the following matching percentage(s) for the following subsequent tiers of Salary Reduction contributions for the Plan Year: -------------------------------------------------. (3) Discretionary formula. (i) An amount (or additional amount) equal to a matching percentage the Employer from time to time may deem advisable of the Participant's salary reduction contributions for the Plan Year. (ii) An amount (or additional amount) equal to a matching percentage the Employer from time to time may deem advisable of each tier of the Participant's Salary Reduction contributions for the Plan Year. [Note: Under Options (2) and (3)(ii), the matching percentage for any subsequent tier of salary reduction contributions may not exceed the matching percentage for any prior tier.] (4) A Participant's matching contributions may not: (i) Exceed ---------------------------------------. (ii) Be less than ---------------------------------. (i) Amount of salary reduction contributions taken into account. When determining a Participant's salry reduction contributions taken into account under the matching contributions formula(s), the following rules apply: (Choose any combination of (1) through (3)) (1) The Advisory Committee will take into account all eligible contributions credited for the Plan Year. (2) The Advisory Committee will disregard eligible contributions exceeding ------------------------------------. (3) The Advisory Committee will treat as the first tier of Salary Recuction contributions, an amount not exceeding:----------------------. The subsequent tiers of eligible contributions are: -------------------. Part III. [Option (j). Special rules for Code ss.401(k) Arrangement. (Choose (j), if applicable)
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AMOUNT OF MATCHING CONTRIBUTIONS. For each Plan Year, the Employer's matching contribution is: (Choose any combination of (1), (2), (3), (4) and (5)) [N/A] (1) An amount equal to _________ % of each Participant's eligible contributions for the Plan Year. [N/A] (2) An amount equal to _________ % of each Participant's first tier of eligible contributions for the Plan Year, plus the following matching percentage(s) for the following subsequent tiers of eligible contributions for the Plan___________________.
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AMOUNT OF MATCHING CONTRIBUTIONS. For each Plan Year, the Employer's matching contribution is: (CHOOSE ANY COMBINATION OF (1), (2), (3), (4) AND (5)) (1) An amount equal to ____% of each Participant's eligible contributions for the Plan Year. (2) An amount equal to ____% of each Participant's first tier of eligible contributions for the Plan Year, plus the following matching percentage(s) for the following subsequent tiers of eligible contributions for the Plan ________________. [X] (3) Discretionary formula. (i) An amount (or additional amount) equal to a matching percentage the Employer from time to time may deem advisable of the Participant's eligible contributions for the Plan Year. (ii) An amount (or additional amount) equal to a matching percentage the Employer from time to time may deem advisable of each tier of the Participant's eligible contributions for the Plan Year.
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AMOUNT OF MATCHING CONTRIBUTIONS. For each Plan Year, the Employer's matching contribution is: (Choose any combination of (1), (2), (3), (4) and (5)) o (1) An amount equal to __% of each Participant's eligible contributions for the Plan Year. o (2) An amount equal to __% of each Participant's first tier of eligible contributions for the Plan Year, plus the following matching percentage(s) for the following subsequent tiers of eligible contributions for the Plan Year: ___. ý (3) Discretionary formula. (a) An amount (or additional amount) equal to a matching percentage the Employer from time to time may deem advisable of the Participant's eligible contributions for the Plan Year.
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AMOUNT OF MATCHING CONTRIBUTIONS. The Board of Directors may in its sole discretion (but shall have no obligation to) credit a specific amount of Matching Contributions to any one or more Participant(s) who receive Pre-Tax Contribution Credits, which Matching Contributions shall be expressed as a percentage of such Participants' Pre-Tax Contribution Credits, but which may differ among Participants, including, without limitation, similarly situated Participants.
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AMOUNT OF MATCHING CONTRIBUTIONS. For each Plan Year, the Employer's matching contribution is: (Choose any combination of (1), (2), (3), (4) and (5)) [X] (1) An amount equal to 50% of each Participant's eligible contributions for the Plan Year. [ ] (2) An amount equal to _______% of each Participant's first tier of eligible contributions for the Plan Year, plus the following matching percentage(s) for the following subsequent tiers of eligible contributions for the Plan _________________ _____________________________________________________________. [ ] (3) Discretionary formula. [ ] (i) An amount (or additional amount) equal to a matching percentage the Employer from time to time may deem advisable of the Participant's eligible contributions for the Plan Year. [ ] (ii) An amount (or additional amount) equal to a matching percentage the Employer from time to time may deem advisable of each tier of the Participant's eligible contributions for the Plan Year.
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Related to AMOUNT OF MATCHING CONTRIBUTIONS

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Employer Contributions 16.01 Employer contributions shown in the tables in the attached appendices shall be made on all hours of work performed which are included in computing the eight (8) hours per day and forty (40) hours per week after which overtime is payable and shall be recorded on a standard remittance report provided by the Union and remitted on or before the fifteenth (15th) day of the month following the month for which contributions are due and payable, to the Trust Funds. Hours of work performed are interpreted to mean daily travel time, daily working time, reporting time, and, if the employee is required to perform a welding test, testing time. Contributions for overtime hours will be calculated as straight time hours. The Employer shall provide each employee covered by this Agreement with a statement with each weekly paycheque stating the total number of hours reported for contributions to the Pension and Health & Welfare Funds on behalf of that employee for the period covered by the paycheque. 16.02 All such funds due and payable to the above funds shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds are not wages or benefits due to an employee and industry promotion funds are deemed to be dues for services rendered by the Association. 16.03 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Fund, including provisions for an audit, security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds as liquidated damages, and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 16.04 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 16.05 The Employer shall not be required to make additional contributions or payments to any Industry Funds established by the Union or its Local Unions nor to any such funds established by Provincial or Territorial Government orders, regulations, or decrees for the purpose of providing similar benefits, it being understood and agreed that the contributions for herein, or any portions thereof shall be deemed to be in lieu of and/or shall be applied as payments to such funds. This provision shall not be applicable to any national funds or plans having general application and established by an Act of the Government of Canada. 16.06 In the Province of Ontario, the Trustees/Administrator of the employee benefit funds referred to in this Agreement shall promptly notify the Local Union of the failure by any Employer to pay any employee benefit contributions required to be made under this Agreement and which are owed under the said funds in order that the Program Administrator of the Ontario Employee Wage Protection Program may deem that there has been an assignment of compensation under the said Program in compliance with the Regulations to the Ontario Employment Standards Amendment Act, 1991, in relation to the Ontario Employee Wage Protection Program. 16.07 The parties hereto agree that contribution rates for the trust funds listed herein do not include any Provincial or Federal taxes.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.

  • Elective Deferrals (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.