SALARY REDUCTION ARRANGEMENT. If the Employer elects a salary reduction arrangement, any Employee eligible to participate in the Plan may file a salary reduction agreement with the Advisory Committee. The salary reduction agreement may not be effective earlier than the following date which occurs last: (i) the Employee's Plan Entry Date (or, in the case of a reemployed Employee, his reparticipation date under Article II); (ii) the execution date of the Employee's salary reduction agreement; (iii) the date the Employer adopts the Code Section 401(k) arrangement by executing the Adoption Agreement; or (iv) the effective date of the Code Section 401(k) arrangement, as specified in the Employer's Adoption Agreement. Regarding clause (i), an Employee subject to the Break in Service rule of Section 2.03(B) of the Plan may not enter into a salary reduction agreement until the Employee has completed a sufficient number of Hours of Service to receive credit for a Year of Service (as defined in Section 2.02) following his reemployment commencement date. A salary reduction agreement must specify the amount of Compensation (as defined in Section 1.12) or percentage of Compensation the Employee wishes to defer. The salary reduction agreement will apply only to Compensation which becomes currently available to the Employee after the effective date of the salary reduction agreement. The Employer will apply a reduction election to all Compensation (and to increases in such Compensation) unless the Employee specifies in his salary reduction agreement to limit the election to certain Compensation. The Employer will specify in Adoption Agreement Section 3.01 the rules and restrictions applicable to the Employees salary reduction agreements.
SALARY REDUCTION ARRANGEMENT. The Employer must contribute the amount by which the Participants have reduced their Compensation for the Plan Year, pursuant to their salary reduction agreements on file with the Advisory Committee. A reference in the Plan to salary reduction contributions is a reference to these amounts.
SALARY REDUCTION ARRANGEMENT. ELECTIVE DEFERRALS Each Participant may elect to have Compensation deferred by up to the maximum amount allowed by law. Catch–Up Contributions and Xxxx Elective Deferrals. Participants may make (select all that apply):
SALARY REDUCTION ARRANGEMENT. If the Employer elects a ----------------------------- salary reduction arrangement, any Employee eligible to participate in the Plan may file a salary reduction agreement with the Plan Administrator. The salary reduction agreement may not be effective earlier than the following date which occurs last: (i) the Employee's Plan Entry Date (or, in the case of a reemployed Employee, his reparticipation date under Article II); (ii) the execution date of the Employee's salary reduction agreement; (iii) the date the Employer adopts the Code section 401(k) arrangement by executing the Adoption Agreement; or (iv) the effective date of the Code section 401(k) arrangement, as specified in the Employer's Adoption Agreement Section 1.17. Regarding clause (i), an Employee subject to the Break in Service rule of Section 2.03(b) of the Plan may not enter into a salary reduction agreement until the Employee has completed a sufficient
SALARY REDUCTION ARRANGEMENT. If you, as employer, intend to limit your involvement solely to forwarding employee salary deferrals to Xxxxxxxx, a separate employer plan document may not be required. You should consult your legal or tax advisor about whether your employees can simply enter into a custodial agreement with Xxxxxxxx using the Xxxxxxxx Section 403(b)(7) Custodial Agreement provided. Employer Contributions
