Inclusion of Elective Deferrals Clause Samples

The Inclusion of Elective Deferrals clause establishes that employees may choose to defer a portion of their compensation into a retirement or savings plan, such as a 401(k). This clause typically outlines the process for making such elections, the types of compensation eligible for deferral, and any applicable limits or conditions. By clearly defining how and when employees can make elective deferrals, the clause ensures both compliance with legal requirements and clarity for participants regarding their savings options.
Inclusion of Elective Deferrals. Does Compensation include Employer Contributions made pursuant to a salary reduction agreement which are not includible in the gross income of the Employee under Sections 125, 402(e)(3), 402(h)(1)(B), and 403(b) of the Code?
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Inclusion of Elective Deferrals. Does Compensation include Employer Contributions made pursuant to a salary reduction agreement which are not includible in the gross income of the Employee under Sections 125, 402(e)(3), 402(h)(1)(B), and 403(b) of the Code? / / Yes / / No NOTE: If neither box is checked, "Yes' will be deemed to be selected.
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Inclusion of Elective Deferrals. 1. Elective Deferrals. For purposes of Elective Deferrals, does Compensation include Employer Contributions made pursuant to a salary reduction agreement which are not includible in the gross income of the Employee under any of the following Sections of the Code? (ANSWER "INCLUDED" OR "EXCLUDED" FOR EACH OF THE FOLLOWING ITEMS.) Section 125 (cafeteria plans) [X] Included [ ] Excluded Section 402(e)(3) (401(k) plans) [X] Included [ ] Excluded Section 402(h)(1)(B) (salary deferral SEP plans) [X] Included [ ] Excluded Section 403(b) (tax-sheltered annuity plans) [X] Included [ ] Excluded NOTE: IF A BOX IS NOT CHECKED FOR AN ITEM, "INCLUDED" WILL BE DEEMED TO BE SELECTED FOR THAT ITEM.
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Inclusion of Elective Deferrals. Compensation shall include Employer Contributions (made pursuant to a salary reduction agreement) that are not includible in the gross income of the Employee under any of the following Code Sections: Section 125 (cafeteria plans), Section 132(f)(4) (transportation fringe benefits), Section 402(e)(3) (401(k) plans), Section 408(k) (salary deferral SEP plans), Section 403(b) (tax sheltered annuity plans), Section 457 (deferred compensation plans of state and local governments and tax-exempt organizations) (select “Yes” or “No” for each of the following contribution types). Elective Deferrals þ Yes ¨ No Matching Contributions ¨ Yes ¨ No Employer Profit Sharing Contributions þ Yes ¨ No NOTE: If a box is not selected for an item, “Yes” will apply for the applicable contribution type, if applicable.
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Inclusion of Elective Deferrals 
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Inclusion of Elective Deferrals 
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Related to Inclusion of Elective Deferrals

  • Elective Deferrals (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.

  • Highly Compensated Employee The term Highly Compensated Employee includes highly compensated active employees and highly compensated former employees.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • 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.

  • 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.