Contributions and Forfeitures Clause Samples
The "Contributions and Forfeitures" clause defines the rules governing how contributions—such as money, property, or services—are made to a plan, fund, or agreement, and under what circumstances those contributions may be forfeited. Typically, this clause outlines eligibility requirements for making contributions, the process for allocating them, and the specific events (such as failure to meet certain conditions or early withdrawal) that could result in forfeiture of all or part of a participant's interest. Its core function is to ensure fairness and clarity in the management of contributions, while also protecting the plan or agreement from misuse or non-compliance by participants.
Contributions and Forfeitures. Amount - The employer must select a definite contribution formula under a money purchase pension plan. Options (a) and (d) are nonintegrated formulas, options (b) and (c) are integrated formulas.
Contributions and Forfeitures. 3.01 AMOUNT. ------
Part I. [Options (a) through (g)] Amount of Employer's contribution. The Employer's annual contribution to the Trust will equal the total amount of deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions, as determined under this Section 3.01. (Choose any combination of (a), (b), (c) and (d), or choose (e))
(a) Deferral contributions (Code Section 401(k) arrangement). (Choose (1) or (2) or both)
(1) Salary reduction arrangement. The Employer must contribute the amount by which the Participants have reduced their Compensation for the Plan Year, pursuant to their salary reduction agreements on file with the Advisory Committee. A reference in the Plan to salary reduction contributions is a reference to these amounts.
(2) Cash or deferred arrangement. The Employer will contribute on behalf of each Participant the portion of the Participant's proportionate share of the cash or deferred contribution which he has not elected to receive in cash. See Section 14.02
Contributions and Forfeitures. Each Participant's Account shall be increased by that portion of the contribution and forfeitures which is allocated to him.
Contributions and Forfeitures. A. Elective Deferrals ------------------ If this paragraph is checked, Elective Deferrals not in excess of 10% of a Member's Compensation shall be contributed to the Trust by the Employer in accordance with a Salary Adjustment Agreement with the Member. The minimum Elective Deferrals per Member shall be $ ------- per week/month.
Contributions and Forfeitures. 8
4.1 Employer Contributions 8 4.2 Contributions by Participants 8 4.3 Disposition of Forfeitures 9 4.4 Rollover Contributions 10
Contributions and Forfeitures. Amount of Employer Contributions and Plan Allocations: Sections 3.01 through 3.06
Contributions and Forfeitures. 6.01 The Employer shall pay to the Custodian, from time to time, such sums of money as specified in the Adoption Agreement on behalf of each Participant. Employer contributions for each Plan Year shall be delivered to the Custodian not later than the due date for filing the Employer's income tax return, including extensions thereof. No contributions shall be accepted by the Custodian from any
Contributions and Forfeitures. 4.1 401(k)
Contributions and Forfeitures. 3.01 AMOUNT. ------
PART I. [OPTIONS (A) THROUGH (G)] AMOUNT OF EMPLOYER'S CONTRIBUTION. The Employer's annual contribution to the Trust will equal the total amount of deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions, as determined under this Section 3.01. (Choose any combination of (a), (b), (c) and (d), or choose (e)) [X] (a) DEFERRAL CONTRIBUTIONS (CODE (S)401(K) ARRANGEMENT). The Employer must contribute the amount by which the Participants have reduced their Compensation for the Plan Year, pursuant to their salary reduction agreements on file with the Advisory Committee. A reference in the Plan to salary reduction contributions is a reference to these amounts.
Contributions and Forfeitures. 3.01 AMOUNT.
PART I. [OPTIONS (a) THROUGH (g)]