RSP Contributions Sample Clauses

The RSP Contributions clause defines the obligations of parties regarding contributions to a Registered Savings Plan (RSP). Typically, this clause outlines who is responsible for making contributions, the frequency and amount of such contributions, and any conditions or limitations that may apply. For example, it may specify that an employer will contribute a certain percentage of an employee’s salary to the RSP on a monthly basis, or set annual maximums in line with regulatory limits. The core function of this clause is to ensure clarity and consistency in how RSP contributions are handled, thereby preventing misunderstandings and ensuring compliance with applicable laws and agreements.
RSP Contributions. You or a contributor can deposit amounts to your RSP in a single payment or in periodic payments up to the maximum contribution limit permitted by the Tax Act. You are responsible for determining the maximum permitted contribution to your RSP in any tax year. We will not accept contributions or transfers to your RSP after December 31 of the year you turn age 71.
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RSP Contributions. The Employer will contribute for each full-time employee, $0.25 per hour for each regular hour worked. There will be a matching contribution from the employee. Effective January 1, 2010, amend to read $0.33 per hour for each regular hour worked. It is recognized by both parties that the purpose of the RRSP is to provide long-term retirement savings for the employee. In this respect, the contributions of the employer and the employee to the RRSP plan shall be locked in until such time as the employment relationship has ceased.
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Related to RSP Contributions

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Company Contributions 32.1.1 The Company will make contributions on the Employee’s behalf to a complying superannuation fund which meets the Company’s statutory obligations under applicable superannuation legislation. 32.1.2 To avoid doubt, for an Employee working a roster with rostered overtime, the Company is only required to pay superannuation on the Ordinary Time Earnings component of the Annualised Wage.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • 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.

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.