Eligibility Requirement(s) for Matching Contributions Sample Clauses

The 'Eligibility Requirement(s) for Matching Contributions' clause defines the specific conditions an employee must meet to qualify for employer matching contributions in a retirement or savings plan. Typically, this clause outlines criteria such as minimum length of service, minimum employee contribution levels, or employment status (e.g., full-time or part-time). For example, an employee may need to complete one year of service and contribute at least 5% of their salary to be eligible for matching. The core function of this clause is to set clear standards for participation, ensuring that both employees and employers understand when matching contributions will be provided and under what circumstances, thereby promoting fairness and transparency in benefit administration.
Eligibility Requirement(s) for Matching Contributions. A Participant who makes Deferral Contributions during the Plan Year under Section 1.05(a) shall be entitled to Matching Contributions for that Plan Year if the Participant satisfies the following requirement(s) (Check the appropriate box(es). Options (B) and (C) may not be elected together): (A) ¨ Is employed by the Employer on the last day of the Plan Year. (B) ¨ Earns at least 500 Hours of Service during the Plan Year. (C) ¨ Earns at least 1,000 Hours of Service during the Plan Year. (D) ¨ Other: (E) ¨ No requirements. Note: If option (A), (B) or (C) above is selected, then Matching Contributions can only be made by the Employer after the Plan Year ends. Any Matching Contribution made before Plan Year end shall not be subject to the eligibility requirements of this Section 1.05(b)(3)).
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Eligibility Requirement(s) for Matching Contributions. A Participant who makes Deferral Contributions during the Plan Year under Section 1.05(a) shall be entitled to Matching Contributions for that Plan Year if the Participant satisfies the following requirement(s) (Check the appropriate box(es). Options (B) and (C) may not be elected together): (A) |_| Is employed by the Employer on the last day of the Plan Year. (B) |_| Earns at least 500 Hours of Service during the Plan Year. (C) |_| Earns at least 1,000 Hours of Service during the Plan Year. (D) |_| Other: _______ (E) |X| No requirements. Note: If option (A), (B) or (C) above is selected, then Matching Contributions can only be made by the Employer after the Plan Year ends. Any Matching Contribution made before Plan Year end shall not be subject to the eligibility requirements of this Section 1.05(b)(3)).
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Eligibility Requirement(s) for Matching Contributions. A Participant who makes Deferral Contributions during the Plan Year under Section 1.05 (a) shall be entitled to Matching Contributions for that Plan Year if the Participant satisfies the following requirement(s) (Check the appropriate box(es). Options (B) and (C) may not be elected together): (A) ¨ Is employed by the Employer on the last day of the Plan Year. (B) ¨ Earns at least 500 Hours of Service during the Plan Year. (C) ¨ Earns at least 1,000 Hours of Service during the Plan Year. (D) ¨ Other: ___________________ (E) ¨ No requirements.
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Eligibility Requirement(s) for Matching Contributions. A Participant who makes Deferral Contributions during the Plan Year under Section 1.05(a) shall be entitled to Matching Contributions for that Plan Year if the Participant satisfies the following requirement(s) (Check the appropriate box(es). Options (B) and (C) may not be elected together): (A) o Is employed by the Employer on the last day of the Plan Year. (B) o Earns at least 500 Hours of Service during the Plan Year.
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Related to Eligibility Requirement(s) for Matching Contributions

  • 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.

  • 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.

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

  • 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.

  • 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.