Salary Deferral Election Sample Clauses

Salary Deferral Election. If an Employee who is not a Participant wishes to make a Rollover Contribution to the Plan, or a Plan-to-Plan Transfer is proposed to be made to the Plan on his behalf, such Employee must execute such forms as the Plan Administrator shall require prior to any such Rollover Contribution or Plan-to-Plan Transfer being accepted by the Plan Administrator on behalf of the Plan. Provided, however, that the Adoption Agreement allows such Rollover Contributions and/or Plan-to-Plan Transfers.
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Salary Deferral Election. Each Participant may elect to defer receipt of his Compensation, up to a limit specified in the Adoption Agreement and the other provisions of this Plan, and to have that amount withheld from amounts due to him from the Employer, paid to the Plan and credited to the Participant's Salary Deferral Account. This election shall be made as follows: For the first Plan Year following or coincident with the Effective Date of this Plan (if this is a newly established plan), the election shall be made as soon as administratively practicable and shall be valid for the remainder of the Plan Year. Thereafter, the election shall be in effect for the period of time designated in the Salary Deferral Agreement, and shall be subject to the provisions of Sections 3.03 and 3.04. The availability of elective deferrals (Salary Deferral Contributions) under the Plan shall not discriminate in favor of Highly Compensated Employees. If provided for in the Adoption Agreement, the Employer may automatically defer a percentage of Compensation identified in the Adoption Agreement for any Employee eligible to participate who (1) has not made an election to defer a portion of Compensation and (2) has not affirmatively opted out of the Plan. Participants subject to this automatic enrollment process will be given prior written notice and a reasonable opportunity to take affirmative action to either elect to defer a portion of Compensation or elect not to participate in the Plan.
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Salary Deferral Election. Notwithstanding Section 5 of your ------------------------ Employment Agreement, in consideration of your continued employment by the Company, you hereby elect to defer, from the date hereof through the Expiration Date (as defined below), an amount equal to ten percent (10%) of your 2002 base salary that would otherwise be payable to you during such period (the "Deferred Amount"). The Company shall pay you the Deferred Amount in a lump sum payment, less applicable withholding taxes, on the Expiration Date; provided, that if -------- this letter agreement is earlier terminated, or the Expiration Date is extended, in each case pursuant to Section 2 below, the Company shall pay you the Deferred Amount on the date of such early termination or the expiration date of the Extended Term (as defined below), as applicable.
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Salary Deferral Election. I wish to make a pre-tax / post-tax (Xxxx) salary deferral contributions to the 403(b) Plan as follows: Enter an amount that does not exceed the lesser of (1) 100% of your compensation OR (2) the annual elective deferral limit in effect for the current year plus any additional “catch up” contributions. This election supersedes any previous salary reduction election made. $ *reduced from base compensation paid for one payroll period $ *Reduced from special pay or bonus compensation Date of receipt of Compensation: *Provided payment is sufficient to cover the deferral amount Investment Election – Please invest my future 403(b) Plan contributions with the vendor(s)/funding vehicles(s) and in the percentage increments listed below: Please list full and complete name of Vendor/Funding Vehicle from list of those available for 403(b) plan. Vendor/Funding Vehicle Name(s) Account/Policy # Investment Percentages (in increments of 1% or more) % % Total Contributions = 100% If you are setting up a new account, please attach a copy of the account application. Business Office The annual amount that you may contribute to the 403(b) Plan is further reduced by any additional contributions that you make to other employer (including self-employment) plan programs, such as SEP IRSs, SIMPLE IRSs, 401(k) plans and other 403(b) plans. Do/Did you contribute to any other retirement programs during this calendar year including any associated with your prior employer(s)? (This does not include state teachers’ retirement plans or Xxxx IRSs and Traditional IRAs) Yes No If yes, please enter the total amount contributed $ Do/Did you participate in any catch up provisions/special elections with your current or former employer(s)? Yes No If yes, please enter the total amount contributed $ I understand and agree that I am executing this Salary Reduction Agreement (the “Agreement”) in consideration for the contributions made by the employer on my behalf of such salary deferral amounts elected in the Agreement and/or any employer contributions (if applicable to the 403(b) Retirement Plan, as adopted by the Employer and as amended from time to time pursuant to section 403(b) of the Internal Revenue Code of 1986 (“Code”), as amended (the “403(b) Plan”). I instruct the Employer to reduce my compensation by the salary deferral contribution amounts indicated in the Agreement for each payroll period beginning with the payroll date designated pursuant to the terms of the 403(b) Plan following the d...
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Salary Deferral Election. □ I elect to defer my eligible compensation, for each pay period, in accordance with the following. I understand that my election will apply prospectively and as soon as administratively practicable after it is received by the Plan. Before-Tax % You can elect to make pre-tax contributions, after-tax (Xxxx) contributions or a combination of both, subject to certain Plan and/or IRS annual limits. Generally, your annual pre-tax and Xxxx contributions may not exceed the “maximum deferral limit” for that year. The maximum deferral limit for 2019 is $19,000. Other limits may apply, and you will be notified if you are impacted. After-Tax (Xxxx) % Total % □ I understand that my deferrals will be invested in the Plan’s default investment option unless and until I direct otherwise. □ I do NOT want my contribution percentage(s) to increase 1% each year up to 6% of my eligible compensation. Unless you check this box, your contribution percentage(s) will automatically increase by 1% each year up to a maximum of 6% (subject to Plan and/or IRS limits) unless and until you elect otherwise or your contribution percentage is at least 6%.
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Salary Deferral Election. Initial salary deferral election: I authorize and direct my Employer to withhold the following percentage of compensation and to contribute such amount to the SIMPLE Retirement Account ("SRA") which has been established pursuant to the terms of the Plan: % of compensation; or $ , which is % of compensation. This election will be effective and shall continue indefinitely until amended or terminated by me or by operation of the Plan or by law. Such date shall not be contrary to any terms of the Plan. If no date is entered, the Agreement shall become effective as of the first day of the first payroll period immediately following the execution of this Agreement. Total elective deferrals per calendar year shall not exceed the maximum amount allowed by applicable law ($11,500 in 2010, as adjusted for inflation thereafter).
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Salary Deferral Election. An agreement between a Participant and the Employer, whereby the Participant elects to have a specific percentage or dollar amount withheld from his/her Plan Compensation, and the Employer agrees to contribute such amount into the Plan. A Salary Deferral Election may only be made if the Plan qualifies as a Grandfathered 401(k) Arrangement as designated under AA §2-3 of the Profit Sharing Plan Adoption Agreement. See Section 3.02(c)(2)(i).
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Salary Deferral Election. In order to make Salary Deferrals under the Plan, a Participant must enter into a Salary Deferral Election which authorizes the Employer to withhold a specific dollar amount or a specific percentage from the Participant’s Plan Compensation. The Salary Deferral Election may permit a Participant to specify a different percentage or dollar amount be withheld from specified components of Plan Compensation, such as base pay, bonuses, commissions, etc. In addition, the Salary Deferral Election may provide the conditions on which an Employee’s affirmative Salary Deferral Election will expire. If an Employee’s Salary Deferral Election expires, such Employee can always complete a new affirmative election and designate a new deferral percentage. If the Plan is not an Automatic Contribution Arrangement and an Employee’s affirmative election expires, the Salary Deferral Election may provide that the Employee’s expiring deferral election remains in effect and may increase by a designated amount unless the Employee affirmatively elects otherwise. The Employer will deposit any amounts withheld from a Participant’s Plan Compensation as Salary Deferrals into the Participant’s Salary Deferral Account under the Plan. A Salary Deferral Election may only relate to Plan Compensation that is not currently available at the time the Salary Deferral Election is completed. In determining the amount to be withheld from a Participant’s Plan Compensation, a Salary Deferral election may be rounded to the next highest or lowest whole dollar amount. The Employer may designate under AA §6A-8 of the Grandfathered 401(k) Plan Adoption Agreement to apply a special effective date as of which Participants may begin making Salary Deferrals under the Plan. Regardless of any special effective date designated under AA §6A-8, a Salary Deferral Election may not be effective prior to the later of:
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Salary Deferral Election. 1.63. Self-employed Individual
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Related to Salary Deferral Election

  • Deferral Election A Participant may elect to defer all or a specified percentage of the Compensation earned in a Plan Year by such Participant for serving as a member of the Board of any Participating Fund or as a member of any committee or subcommittee thereof. Reimbursement of expenses of attending meetings of the Board, committees of the Board or subcommittees of such committees may not be deferred. Such election shall be made by executing before the first day of such Plan Year such election notice as the Administrator may prescribe; provided, however, that upon first becoming eligible to participate in the Plan by reason of appointment to a Board, a Participant may file a Deferral Election not later than 30 days after the effective date of such appointment, which election shall apply to Compensation earned in the portion of the Plan Year commencing the day after such election is filed and ending on the last day of such Plan Year.

  • Deferral Elections As provided in Sections 5(f), 6(h) and 14(d), the Executive may elect to defer the Pre-Change in Control Severance Payment, the Post-Change in Control Severance Payment and the Consulting Payment as follows. The Executive’s deferral election shall satisfy the requirements of Treasury Regulation Section 1.409A-2(b) and the terms and conditions of the Deferred Compensation Plan. Such deferral election shall designate the whole percentage (up to a maximum of 100%) of the Pre-Change in Control Severance Payment, the Post-Change in Control Severance Payment and the Consulting Payment to be deferred, shall be irrevocable when made, and shall not take effect until at least twelve (12) months after the date on which the election is made. Such deferral election shall provide that the amount deferred shall be deferred for a period of not less than five (5) years from the date the payment of the amount deferred would otherwise have been made, in accordance with Treasury Regulation Section 1.409A-2(b)(1)(ii).

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • 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.

  • Deferral Account 3.1 Establishing and Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Deferral Period The Deferred Share Units will be subject to a deferral period in accordance with the election made by Grantee and the terms of the Deferred Compensation Plan. The Grantee may change the period of deferral by filing a subsequent election with the Company in accordance with the terms of the Deferred Compensation Plan. During the deferral period, the Grantee will have no right to transfer any rights under his or her Deferred Share Units and will have no other rights of ownership therein.

  • Initial Election The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

  • Deferral Notwithstanding the foregoing, if the Company shall furnish to Holders requesting registration pursuant to this Section 2.3, a certificate signed by the President or Chief Executive Officer of the Company stating that in the good faith judgment of the Board, it would be materially detrimental to the Company and its shareholders for such registration statement to be filed at such time, then the Company shall have the right to defer such filing for a period of not more than ninety (90) days after receipt of the request of the Initiating Holders; provided, however, that the Company may not utilize this right more than once in any twelve (12) month period; provided further, that the Company shall not register any other of its shares during such twelve (12) month period. A demand right shall not be deemed to have been exercised until such deferred registration shall have been effected.

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

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