Catch-Up Contributions Sample Clauses

Catch-Up Contributions. In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

Catch-Up Contributions. If you are age 50 or older by the close of the taxable year, you may make an additional contribution to your IRA. The maximum additional contribution is $1,000 per year.

Catch-Up Contributions. Unless otherwise elected in Section 2.4 of this amendment, all employees who are eligible to make elective deferrals under this plan and who have attained age 50 before the close of the plan year shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code. Such catch-up contributions shall not be taken into account for purposes of the provisions of the plan implementing the required limitations of Sections 402(g) and 415 of the Code. The plan shall not be treated as failing to satisfy the provisions of the plan implementing the requirements of Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of the making of such catch-up contributions.

Catch-Up Contributions. Employees who are eligible to make Elective Deferrals or ▇▇▇▇ Elective Deferrals under this Plan and who have attained age fifty (50) before the end of their taxable year shall be eligible to make Catch-Up Contributions in accordance with, and subject to the limitations of, Code Section 414(v). Such Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making of such Catch-Up Contributions. “Catch-Up Contributions” are Elective Deferrals or ▇▇▇▇ Elective Deferrals made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are age fifty (50) or over by the end of their taxable years. An otherwise applicable Plan limit is a limit in the Plan that applies to Elective Deferrals or ▇▇▇▇ Elective Deferrals without regard to Catch-Up Contributions, such as the limits on annual additions, the dollar limitation on Elective Deferrals or ▇▇▇▇ Elective Deferrals under Code Section 402(g) (not counting Catch-Up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-Up Contributions for a Participant for a taxable year may not exceed: (a) the dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year, or (b) when added to other Elective Deferrals or ▇▇▇▇ Elective Deferrals, seventy-five percent (75%) of the Participant’s Compensation for the taxable year.

Catch-Up Contributions. The Employer elects to match Catch-Up Contributions under the same formula or formulas as elected above. In the event that an Excess Contribution is recharacterized as a Catch-up Contribution, any Matching Contribution made thereon may remain in the Plan if the Matching Contribution Formula is not otherwise exceeded.

Catch-Up Contributions. Catch-up contributions are regular ▇▇▇▇ ▇▇▇ contributions made in addition to any other regular ▇▇▇▇ ▇▇▇ contributions. You are eligible to make catch-up contributions if you meet the eligibility requirements for regular contributions and you attain age 50 by the end of the taxable year for which a catch-up contribution is being made.

Catch-Up Contributions. If the Employee is age 50 or older by the end of any calendar year, the maximum salary reduction contributions to the Account by the Employee for such calendar year will be increased by the amount provided in Code Section 414(v) applicable to such year. In the event an Employee is eligible for both the catch-up contribution under this subsection and the increased elective deferral limit under Code Section 402(g)(7), any additional amount contributed as a result of these increased limits shall be treated first as an amount contributed under the increased limit under Code Section 402(g)(7) and then as an age 50 catch-up contribution (to the extent the age 50 catch-up exceeds the amount of increase under 402(g)(7)).

Catch-Up Contributions. Catch-Up Contributions are Elective Deferrals made to the Plan that are in excess of any otherwise applicable Plan limit that are made by Participants who are age fifty (50) or older (by the end of their tax year). An otherwise applicable Plan limit is a limit in the Plan that applies to Elective Deferrals or ▇▇▇▇ Elective Deferrals without regard to Catch-Up Contributions, such as the limit on Annual Additions, the dollar limitation on Elective Deferrals or ▇▇▇▇ Elective Deferrals under Code Section 402(g) (not counting Catch-Up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) Test under Code Section 401(k)(3). Catch-Up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year or when added to other Elective Deferrals or ▇▇▇▇ Elective Deferrals, 75% of the Participant’s Compensation for the taxable year. The dollar limit on Catch-Up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later. Different limits apply to Catch-Up Contributions under SIMPLE 401(k)

Catch-Up Contributions. Notwithstanding the election set forth in Box (A), Box (B) or Box (C) above, the amount of salary deferral1 shall be increased by the additional amount set forth below: (i) $ for individuals who are in one of the last three years prior to normal retirement age. (ii) the maximum amount permitted by law for individuals who are in one of the last three years prior to normal retirement age. The plan contains a special "catch-up" provision for Employees approaching Normal Retirement Age (age 65). This "catch-up" provision is available in each of the three consecutive calendar years immediately prior to the calendar year in which the Employee turns 65. Employees are eligible to use this provision if they did not defer the maximum amount allowed by law in one or more of the years they were eligible to participate in the plan. The maximum annual catch-up contribution allowed in each of these three years is the lesser of: 1. the plan year’s annual contribution limit ($19,500 in 2020), or 2. the total amount of underutilized contributions from prior years the Employee was eligible to participate in the Research Foundation of CUNY 457(b) plan. The total amount of underutilized contributions is calculated by taking the IRS maximum contribution for each year, and subtracting the amount the Employee actually contributed to the plan that same year. The differences for each year are then totaled to establish the limit.