Common use of Maximum and minimum amounts Clause in Contracts

Maximum and minimum amounts. 1. The amount that an employee may defer shall not exceed the maximum amount allowable under Section 457 of the Internal Revenue Code for each calendar year. 2. The minimum amount an employee may defer is $10.00 per biweekly pay period. 3. An employee’s work schedule must be regular and earnings must be sufficient to permit deferral of a regular amount.

Maximum and minimum amounts. 1. The amount that an employee may defer shall not exceed the maximum amount allowable under Section 457 of the Internal Revenue Code for each calendar year. 2. The minimum amount an employee may defer is $10.00 per biweekly pay period. 3. An employee’s work schedule must be regular and earnings must be sufficient to permit meet minimum deferral of a regular amountrequirements.