Common use of Employer Nonelective Contributions Clause in Contracts

Employer Nonelective Contributions. If you are eligible to participate in your Employer’s SIMPLE Plan, your Employer may make a nonelective contribution for equal to 2% of your compensation, without regard to whether you elected to make salary reduction contributions for the applicable calendar year. This contribution would be made instead of any matching contribution by your Employer. Your Employer must notify you that a 2% nonelective contribution will be made instead of a matching contribution within a reasonable period of time before the Election Period for the applicable Plan Year. Rollover Contributions. You may roll over contributions from other SIMPLE- IRAs which consist of cash, and the Custodian may, but shall not be obligated to, accept all or any part of any other rollover contribution from a SIMPLE-▇▇▇ to your

Employer Nonelective Contributions. If you are eligible to participate in your Employer’s SIMPLE Plan, your Employer may make a nonelective contribution con- tribution for equal to 2% of your compensation, without regard to whether you elected to make salary reduction contributions for the applicable calendar year. This contribution would be made instead of any matching contribution by your Employer. Your Employer must notify you that a 2% nonelective contribution will be made instead of a matching contribution within a reasonable period of time before the Election Period for the applicable appli- cable Plan Year. Rollover Contributions. You may roll over contributions from other SIMPLE- SIMPLE-IRAs which consist of cash, and the Custodian may, but shall not be obligated to, accept all or any part of any other rollover contribution from a SIMPLE-▇▇▇ to yournot