Employer Matching Contributions Sample Clauses
The Employer Matching Contributions clause outlines the employer's commitment to contribute additional funds to an employee's retirement or savings plan, typically based on the amount the employee contributes. In practice, this clause specifies the percentage or amount the employer will match, such as matching 50% of employee contributions up to a certain limit, and may detail eligibility requirements or vesting schedules. Its core function is to incentivize employees to save for retirement by providing additional financial benefits, while also helping employers attract and retain talent.
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Employer Matching Contributions. The Employer will match contributions of employees who have completed six (6) months of employment. Employer will match 50% of the employee contribution, up to a maximum of 3% employee salary. (Example 1: An employee who contributes 6% of their wages, is eligible for a 3% employer matching contribution. Example 2: An employee who contributes 4% of their wages, is eligible for a 2% employer matching contribution. Example 3: An employee who contributes 10% of their wages is eligible for a 3% employer matching contributions).
Employer Matching Contributions. [Check all that apply] [X] (a) Salary. [X] (b) Bonuses.
Employer Matching Contributions. For each Plan Year and subject to the terms of Section 4.3 of the Plan, the Employer shall match the Employee’s Elective Deferral on a dollar-for-dollar basis (not to exceed the lesser of 3% of the Employee’s Compensation or the Applicable Limit), unless a lesser percentage is inserted here that is equal to or greater than 1%, but not more than 3% of the Employee’s Compensation, or the Applicable Limit:
Employer Matching Contributions. The Employer may elect to make regular matching contributions under the Plan. Such matching contributions on behalf of any Member shall be conditioned upon the Member making after-tax contributions under Section 3.1 and/or 401(k) deferrals under Sections 3.2 and 3.9. If so adopted, the Employer shall contribute monthly under the Plan on behalf of each of its Members an amount equal to a percentage (as specified by the Employer in the Adoption Agreement) of the Member's after-tax contributions and/or 401(k) deferrals not in excess of a maximum percentage as specified by the Employer in the Adoption Agreement (in increments of 1%) of his Salary for such month. The percentage elected by the Employer shall be based on 5% increments not to exceed 200% or in accordance with one of the schedules of matching contribution formulas listed below, and must be uniformly applicable to all Members. Years of Employment Matching % Formula Step 1 Less than 3 50% At least 3 but less than 5 75% 5 or more 100% Formula Step 2 Less than 3 100% At least 3 but less than 5 150% 5 or more 200%
Employer Matching Contributions. The Employer may elect to make regular matching contributions under the Plan. Such matching contributions on behalf of any Member shall be conditioned upon the Member making after-tax contributions under Section 3.1 and/or 401(k) deferrals under Sections 3.2 and 3.
Employer Matching Contributions. If the correction of Excess Aggregate Contributions attributable to Employer matching contributions is not in proportion to the Vested and non-Vested portion of such contributions, then the Vested portion of the Participant's Account attributable to Employer matching contributions after the correction shall be subject to Section 6.5(g).
(b) Any distribution and/or forfeiture of less than the entire amount of Excess Aggregate Contributions (and Income) shall be treated as a pro rata distribution and/or forfeiture of Excess Aggregate Contributions and Income. Distribution of Excess Aggregate Contributions shall be designated by the Employer as a distribution of Excess Aggregate Contributions (and Income). Forfeitures of Excess Aggregate Contributions shall be treated in accordance with Section 4.4.
(c) Excess Aggregate Contributions attributable to amounts other than voluntary Employee contributions, including forfeited matching contributions, shall be treated as Employer contributions for purposes of Code Sections 404 and 415 even if distributed from the Plan. Forfeited matching contributions that are reallocated to Participants' Accounts for the Plan Year in which the forfeiture occurs shall be treated as an "annual addition" pursuant to Section 4.9(b) for the Participants to whose Accounts they are reallocated and for the Participants from whose Accounts they are forfeited.
(d) For each Highly Compensated Participant, the amount of Excess Aggregate Contributions is equal to the Employer matching contributions made pursuant to Section 4.1(b), voluntary Employee contributions made pursuant to Section 4.12, Excess Contributions recharacterized as voluntary Employee contributions pursuant to Section 4.6(a) and any qualified non-elective contributions or elective deferrals taken into account pursuant to Section 4.7(c) on behalf of
Employer Matching Contributions. [Check all that apply] o(a)Salary. o(b)Bonuses. o(c)Commissions o(d)Other. ____________________________________[Describe – In defining Compensation for deferral purposes, please note that elections to defer compensation generally must be made in the year prior to performance period for which the right to the compensation arises. Plan Sponsors should consult with counsel in determining the types of compensation and any special timing rules.]
Employer Matching Contributions. Contributions made to the Plan by the Employer pursuant to Section 3.2.
Employer Matching Contributions. The Employer may elect to make regular matching contributions under the Plan. Such matching contributions on behalf of any Member shall be conditioned upon the Member making after-tax contributions under Section 3.1 and/or 401(k) deferrals under Sections 3.2 and 3.10. If so adopted, the Employer shall contribute under the Plan on behalf of each of its Members an amount equal to a percentage (as specified by the Employer in the Adoption Agreement) of the Member=s after-tax contributions and/or 401(k) deferrals not in excess of a maximum percentage as specified by the Employer in the Adoption Agreement (in increments of 1%) of his Salary. The percentage elected by the Employer shall be based on a formula not to exceed 2005 or in accordance with one of the schedules of matching contribution formulas listed below, and must be uniformly applicable to all Members.
Employer Matching Contributions. Forfeitures of Employer Matching Contributions will be used as follows (check and complete (a) or (b)):
(a) Applied to reduce the following contributions required of the Employer (check (i) and/or (ii)): [X] (i) Employer Matching Contributions