CATCH-UP DEFERRALS Clause Samples

The Catch-Up Deferrals clause allows participants in a retirement or savings plan to make additional contributions beyond regular limits, typically to compensate for previous periods when they did not contribute the maximum allowed. This provision often applies to employees nearing retirement age, enabling them to increase their savings by making larger contributions in the years leading up to retirement. Its core practical function is to help individuals bridge gaps in their retirement savings, ensuring they have adequate funds by allowing them to "catch up" on missed contributions.
CATCH-UP DEFERRALS. 02(D)/(E)). A Participant otherwise eligible to do so (Choose (a) or (b).):
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CATCH-UP DEFERRALS. The Employer in its Adoption Agreement will elect whether or not to permit Catch-Up Eligible Participants to make Catch-Up Deferrals to the Plan under this Section 3.02(D).
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CATCH-UP DEFERRALS. The Plan Administrator will include Catch-Up Deferrals.
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CATCH-UP DEFERRALS. ‌ (3. 02(D)/(E)). A Participant otherwise eligible to do so (Choose (a) or (b).): (a) 🞎 Permitted. May make the following Catch-Up Deferrals to the Plan (Choose one or both of (1) and (2).): (1) 🞎 Age 50 Catch-Up. (2) 🞎 Qualified Organization Catch-Up. See Section 3.02(D)(2). (Choose a. if applicable.): a. 🞎 Denominational Service (1.17). For purposes of Qualified Organization Catch-Ups, the Plan limits Denominational Service as Service for the Employer as follows: (b) 🗹 Not Permitted. May not make any Catch-Up Deferrals to the Plan. 22. MATCHING CONTRIBUTIONS (EXCLUDING SAFE HARBOR MATCH AND ADDITIONAL MATCH UNDER SECTION 3.05)‌
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Related to CATCH-UP DEFERRALS

  • Deferrals If permitted by the Company, the Participant may elect, subject to the terms and conditions of the Plan and any other applicable written plan or procedure adopted by the Company from time to time for purposes of such election, to defer the distribution of all or any portion of the shares of Common Stock that would otherwise be distributed to the Participant hereunder (the “Deferred Shares”), consistent with the requirements of Section 409A of the Code. Upon the vesting of RSUs that have been so deferred, the applicable number of Deferred Shares shall be credited to a bookkeeping account established on the Participant’s behalf (the “Account”). Subject to Section 5 hereof, the number of shares of Common Stock equal to the number of Deferred Shares credited to the Participant’s Account shall be distributed to the Participant in accordance with the terms and conditions of the Plan and the other applicable written plans or procedures of the Company, consistent with the requirements of Section 409A of the Code.

  • 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.

  • 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.

  • Tax-Deferred Earnings The investment earnings of your IRA are not subject to federal income tax until distributions are made (or, in certain instances, when distributions are deemed to be made).

  • 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.