Eligibility for Matching Contribution Clause Samples

The 'Eligibility for Matching Contribution' clause defines the criteria that employees must meet to qualify for employer matching contributions to a retirement or savings plan. Typically, this clause outlines requirements such as minimum length of service, employment status (e.g., full-time or part-time), or minimum employee contribution levels. By clearly specifying who is eligible for matching, the clause ensures fairness and transparency in the allocation of employer contributions, and helps both employers and employees understand the conditions under which additional retirement benefits are provided.
Eligibility for Matching Contribution. A Participant who defers Compensation for the Plan Year shall receive an allocation of Matching Contributions determined in accordance with Section 5.01(a)(i) provided he satisfies the following requirements [complete the ones that are applicable]: (A) ☐ Describe requirements: (B) ☐ Is selected by the Employer in its sole discretion to receive an allocation of Matching Contributions (C) ☐ ▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇
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Eligibility for Matching Contribution. A Participant who defers Compensation for the Plan Year shall receive an allocation of Matching Contributions determined in accordance with Section 5.01(a)(i) provided he satisfies the following requirements (complete the ones that are applicable): (A) r Is employed on the last day of the Plan Year (B) r Completes [insert number] of hours of service during the Plan Year (C) r Is selected by the Employer in its sole discretion to receive an allocation of Matching Contributions (D) r No requirements (E) r Other
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Eligibility for Matching Contribution. A Participant who defers Compensation for the Plan Year may receive an allocation of Matching Contributions determined in accordance with Section 5.01(a)(i) provided he is employed by the Employer on the last day of such Plan Year.
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Eligibility for Matching Contribution. A Participant who defers Compensation for the Plan Year* shall receive an allocation of Matching Contributions determined in accordance with Section 5.01(a)(i) provided he satisfies the following requirements (complete the ones that are applicable): (A) x Is employed on the last day of the Plan Year (B) o Completes _______ [insert number] of hours of service during the Plan Year (C) o Is selected by the Employer in its sole discretion to receive an allocation of Matching Contributions (D) o No requirements (E) o Other _______ _______ _______ ________________________ * Or an Eligible Employee whose Compensation for the Plan Year exceeds the Section 401(a)(17) of the Code limit for that year, but who was not offered an opportunity to elect to defer to the Plan for such Plan Year.
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Related to Eligibility for Matching Contribution

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • 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 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.

  • Contribution Eligibility You are eligible to make a regular contribution to your ▇▇▇▇ ▇▇▇, regardless of your age, if you have compensation and your MAGI is below the maximum threshold. Your ▇▇▇▇ ▇▇▇ contribution is not limited by your participation in an employer-sponsored retirement plan, other than a Traditional IRA.