Salary Deferral Contributions Clause Samples
Salary Deferral Contributions. The Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which its Participants’ Considered Compensation was reduced on a pre-tax basis pursuant to salary deferral agreements (excluding amounts of Considered Compensation deferred pursuant to Section 3.02 that are properly characterized as Catch-up Salary Deferral Contributions). Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the Participant. Any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Participant of the amount required to be contributed to the Trust. A salary deferral agreement can only be made with respect to an amount that is not currently available to the Participant on the date of the agreement. Further, a salary deferral agreement can only be made with respect to amounts that would (but for the agreement) become currently available after the later of the date on which the Employer adopts the Plan or the date on which such adoption of the Plan is effective. A Salary Deferral Contribution for a Participant may not be made earlier than the date on which the Participant’s salary deferral agreement is made. A Participant’s Salary Deferral Contribution must be made after the Participant’s performance of services with respect to which the Salary Deferral Contribution is made, or when the cash would be currently available to the Participant, if earlier. A Participant’s or former Participant’s right to benefits derived from Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. The maximum amount a Participant may elect to reduce his Considered Compensation under his salary deferral agreement shall be determined by the Committee, in its sole discretion from time to time. In addition, the election to have Salary Deferral Contributions made, the ability to change the rate of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time. A Participant will be permitted to make (or change) a Salary Deferral Contribution elect...
Salary Deferral Contributions. Each Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which the Considered Compensation of its Employees who are Participants was reduced on a pre-tax basis pursuant to salary deferral agreements (excluding amounts of Considered Compensation deferred pursuant to Section 3.02 that are properly characterized as Catch-up Salary Deferral Contributions). Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the Participant. Any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Participant of the amount required to be contributed to the Trust. A Participant’s or former Participant’s right to benefits attributable to Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. This paragraph shall be effective January 1, 2007. Except as provided below, each Employee who first becomes employed by the Employer on or after January 1, 2007 and who satisfies the requirements of Section 3.1 shall have three percent (3%) of his Considered Compensation automatically deducted from his pay as a Salary Deferral Contribution to this Plan (the “Automatic Deduction”). No Automatic Deduction shall be made with respect to an Employee if (a) the Employee affirmatively elects a different level of Salary Deferral Contributions in accordance with the provisions of this Plan or (b) the Employee affirmatively elects not to make Salary Deferral Contributions in accordance with the provisions of this Plan. The maximum amount a Participant may elect to reduce his Considered Compensation under his salary deferral agreement and have contributed to the Plan on a pre-tax basis shall be determined by the Committee, in its sole discretion from time to time. The election to have Salary Deferral Contributions made, the ability to change the rate of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time.
Salary Deferral Contributions. Salary Deferral Contributions shall be allocated to the Salary Deferral Account of each Participant as of each Valuation Date.
Salary Deferral Contributions. Contributions made pursuant to an individual retirement annuity program in accordance with the requirements of Section 408(b) of the Code and applicable Treasury regulations;
Salary Deferral Contributions. Contributions to an Employer Plan made by a Participant pursuant to a cash or deferred election (normally in accordance with the terms of a qualified cash or deferred arrangement under Section 401(k) of the Code).
Salary Deferral Contributions. 39 4.5. Actual Deferral Percentage Tests.............. 41 4.6. Refunds of Excess Salary Deferral Contributions.. 43
Salary Deferral Contributions. 17 4.4 CHANGES IN ELIGIBLE EARNINGS............................ 17 4.5
Salary Deferral Contributions. In lieu of paying a Participant his full Compensation in a payroll period, the Participating Employer shall make a Salary Deferral Contribution on the Participant's behalf in an amount equal to the amount of Compensation that the Participant has elected to defer under Section 3.2(a). In no event, however, shall the Salary Deferral Contributions made on behalf of a Participant exceed the limitations of Article V. The Committee may prospectively revoke, amend, or temporarily suspend a Participant's election to participate to the extent it deems necessary to satisfy those limits in any Plan Year.
Salary Deferral Contributions. Beginning as soon as practicable after the filing of the Salary Deferral Agreement pursuant to Section 3.2 or a modification thereto as provided in Section 4.5(a), there shall be contributed by each Employer to the Plan Salary Deferral Contributions in an amount equal to the Salary Deferral Rate each Participant has selected times each Participant's Eligible Earnings rounded down to the nearest whole dollar.
Salary Deferral Contributions. Participant elections to defer Compensation shall be made in either (a) increments of 1% which shall not be less than 1% nor greater than _15__% (not greater than 15) or (b) a specific dollar amount which shall not exceed the percentage contribution specified in (a). The deferral amount is to be allocated to the Participant's Account under the Plan as a Section 401(k) Contribution.