ELECTIVE DEFERRAL CONTRIBUTIONS Sample Clauses
The Elective Deferral Contributions clause defines the rules and procedures by which employees can choose to have a portion of their salary withheld and contributed to a retirement plan, such as a 401(k). Typically, this clause outlines eligibility requirements, limits on contribution amounts, and the process for making or changing deferral elections. Its core function is to provide employees with a structured and tax-advantaged way to save for retirement, while ensuring the employer administers contributions in compliance with applicable laws and plan terms.
ELECTIVE DEFERRAL CONTRIBUTIONS. Any Pre-Tax Contributions or ▇▇▇▇ Contributions made to this Plan at the election of a Participant, in lieu of cash compensation. With respect to any calendar year, a Participant’s Elective Deferral Contributions is the sum of all Employer contributions made on behalf of such Participant pursuant to an election to defer under any qualified cash or deferred arrangement (“CODA”) described in Code Section 401(k), any salary reduction simplified employee pension plan described in Code Section 408(k)(6), any SIMPLE IRA Plan described in Code Section 408(p), any plan described under Code Section 501(c)(18), and any contributions made on the behalf of a Participant for the purchase of any annuity contract under Code Section 403(b) under a salary reduction agreement. Elective Deferral Contributions shall not include any deferrals properly distributed as Excess Amounts under Section 3.7.2 and are limited by Code Section 402(g) (See Section 3.4.2).
ELECTIVE DEFERRAL CONTRIBUTIONS. (A) ELECTION. Elective Deferral Contributions shall (check (1) or (2)):
(1) Not be permitted under the Plan.
(2) Be permitted in accordance with the provisions of Section 3.4 of the Plan. If Section A.3.4(A)(2) is checked, a salary reduction agreement must be completed and filed by the Participant with the Administrative Committee prior to the date the Elective Deferral Contributions are made.
ELECTIVE DEFERRAL CONTRIBUTIONS. An Employee shall have completed [ ] Year of Service for Eligibility (not more than one Year of Service for Eligibility) to be eligible to make Elective Deferral Contributions.
ELECTIVE DEFERRAL CONTRIBUTIONS. If Elective Deferral Contributions are provided for under Section A.3.4 of the Adoption Agreement, the number of Hours of Service which a Participant must complete in a Year of Service for Benefit Accrual is [ N/A] (fill in blank but not to exceed 1,000 Hours of Service unless Section A.1.97(A)(2) is checked, in which case insert letters "ET" and the elapsed time rules apply; if there are no Elective Deferral Contributions, insert letters "N/A") in order for the Participant to have Elective Deferral Contributions made on his behalf under the Plan.
ELECTIVE DEFERRAL CONTRIBUTIONS. The Employer shall contribute an amount equal to (check one):
(i) [ ] percent of the Participant's Elective Deferral Contributions; or
(ii) that percent of the Participant's Elective Deferral Contributions, as determined by the Employer, in its sole discretion, for the Plan Year.
ELECTIVE DEFERRAL CONTRIBUTIONS. If different from the Plan’s Effective Date, this provision shall be effective (must not be earlier than the date this provision is adopted and must be effective not later than three months prior to the end of the applicable Plan Year).
ELECTIVE DEFERRAL CONTRIBUTIONS. This refers to the aggregate of amounts a Participant or the Contract Holder, acting on the Participant's behalf, contributes to an elective deferral plan under any salary reduction agreement that conforms to Section 402(g) of the Code ("Pre-tax Contributions") and, if permitted under the Plan and accepted by Us, after-tax contributions that satisfy the requirements of Section 402A of the Code ("403(b) R▇▇▇ Contributions"). To qualify as 403(b) R▇▇▇ Contributions, such amounts must:
ELECTIVE DEFERRAL CONTRIBUTIONS. Elective Deferral Contributions for a Participant are equal to a portion of Compensation as specified in an Elective Deferral Agreement. Such Elective Deferral Contribution shall not be made before the later of (i) the adoption or effective date of the cash or deferred arrangement (CODA) or (ii) the date the Participant signs the Elective Deferral Agreement. An Employee who is eligible to participate in the Plan for purposes of Elective Deferral Contributions may file an Elective Deferral Agreement with the Employer. The Participant shall modify or terminate an Elective Deferral Agreement by filing a new Elective Deferral Agreement. An Elective Deferral Agreement shall remain in effect until modified or terminated by the Participant. An Elective Deferral Agreement may also be terminated according to the terms of an automatic contribution arrangement (if selected in Items N(6), N(7), O(2) or Item E in the Additional Selections and Minor Modifications Addendum). An Elective Deferral Agreement to start or modify Elective Deferral Contributions shall be effective as soon as administratively feasible on or after the Participant’s Entry Date (Reentry Date, if applicable) or any following change date.
ELECTIVE DEFERRAL CONTRIBUTIONS. The Trustee, upon instructions from the Administrative Committee, shall, as of the date received from the Employer, allocate any Elective Deferral Contributions made on behalf of any Participant in accordance with Section 3.4, to the Elective Deferral Account of such Participant.
ELECTIVE DEFERRAL CONTRIBUTIONS. The rules relating to Elective Deferral Contributions are as follows:
(A) AMOUNT. If the Adoption Agreement provides for Elective Deferral Contributions, the Employer shall make an Elective Deferral Contribution to the Plan on behalf of each Participant who has elected to defer a portion of the Compensation otherwise payable for the Plan Year and have it contributed to the Plan. Such an election may only be made pursuant to a written salary reduction agreement between the Employer and the Participant. The agreement shall be on the Appropriate Form prescribed by the Administrative Committee, and the agreement shall specify the percentage or amount of Compensation that the Participant desires to defer (but in no event may Elective Deferral Contributions exceed for any Plan Year, after taking into account any Employer Contributions for such Plan Year under this Plan and under any other qualified profit-sharing or qualified stock-bonus plan the amount allowable under Section 3.1(B)(1) for the Taxable Year which ends with or within such Plan Year, or the limitations set forth in Section 3.8 below). A Participant shall not be permitted to enter into more than one salary reduction agreement in the periods specified in the Adoption Agreement, and the agreement for any such period must be entered into before the first day of such period. The Elective Deferral Contribution made for a Participant shall be in an amount equal to the amount specified in the Participant's salary reduction agreement; provided, however, that the Elective Deferral Contribution otherwise to be made for a Participant shall be reduced if and to the extent necessary to comply with the limitations of Section 3.4(B). An Elective Deferral Contribution made for a Participant shall be allocated to his Elective Deferral Account pursuant to Section 5.1(D). In the event the requirements of Section 3.4(B) would not otherwise be met, but only if the Adoption Agreement so provides, the Employer may make, on behalf of Non-Highly Compensated Employees, for any Plan Year, such Qualified Nonelective Contributions as are necessary to meet the requirements of Section 3.4(B). Such Employer Qualified Nonelective Contributions must be made by the Employer no later than 30 days after the end of the Plan Year. Such Employer Qualified Nonelective Contributions shall be separately accounted for and no portion of such Employer Qualified Nonelective Contributions attributable to Plan Years beginning after December 31, 1...