Xxxx Contributions. As part of your deferral elections, you must indicate the percentage that will be deferred on a pre-tax basis, and the percentage that will be deferred as a "Xxxx contribution". Xxxx contributions are after-tax contributions, so they will be included in your taxable income and subject to income tax withholding. However, Xxxx contributions are not taxed when distributed from the Plan and earnings on those contributions can also be received tax-free if certain IRS requirements are satisfied.
Xxxx Contributions. May Participants designate all or a portion of their Elective Deferrals as Xxxx Elective Deferrals? i. [ ] No.
Xxxx Contributions. Participant Xxxx Contributions SHALL BE allowed. U. AFTER-TAX CONTRIBUTIONS. Participant After-tax Contributions SHALL NOT BE allowed.
Xxxx Contributions. If permitted by the Plan, Participants may make Xxxx Contributions into their Custodial Accounts. Unless otherwise required, Xxxx Contributions shall be treated as “elective deferrals” under Section 402(g) of the Code and, as such, shall be subject to the requirements and limitations imposed by that section of the Code. The Program Sponsor or other Plan TPA or record keeper shall separately account for Xxxx Contributions from all other contributions to the Account.
Xxxx Contributions. Any contribution made to the Plan at the election of a Participant that is includable in the Participant’s gross income at the time deferred and has been irrevocably designated as Xxxx Contributions by the Participant. A Participant’s Xxxx Contributions will be maintained in a separate account containing only the Participant’s Xxxx Contributions and gains and losses attributable to those Xxxx Contributions. No Xxxx Contribution may be made prior to the first day of the Plan Year beginning after December 31, 2005. Xxxx Contributions shall not include any contributions properly distributed as Excess Amounts as defined under Section 3.7.2 and are limited by Code Section 402(g) (See Section 3.4.2).
Xxxx Contributions. In the event an Employee does not designate on his Compensation Reduction Agreement whether the contributions elected to be made are Deferred Salary Contributions or Xxxx Contributions, all contributions elected on such Compensation Reduction Agreement shall be deemed for all purposes of the Plan to be Deferred Salary Contributions.
Xxxx Contributions. Contributions into a Xxxx 403(b) shall be allowed provided that the individual investment management firm’s contract allows it.
Xxxx Contributions. The Employee’s salary will be reduced by the amount indicated above. I understand that my contributions are limited to the legal maximum allowed under IRS Codes when this agreement went into effect. I further understand that Xavier University will not match any of my contributions that are made to my account. (The Xxxx option is only offered by ING.) The limit on salary reduction for 2016 is $18,000. If you have been employed with the University for 15 or more consecutive years, you may contribute an additional $3,000 in 2016. For employees age 50 or over, an additional catch up contribution of $6,000 may be contributed for 2016. Each catch-up has its own limit. This limit must not exceed the statutory limitation under IRC section 414(v). I understand it is my responsibility to ensure I do not exceed the maximum allowed under IRS codes. (This amount should be reviewed by the appropriate Retirement Plan Provider prior to the execution of this Agreement) Employee Signature Date
Xxxx Contributions. Contributions made by the Plan Sponsor to the Plan in accordance with Section 5.1 pursuant to an election by a Participant to defer a portion of his or her Compensation into the Plan under Code §402A after receipt of the Compensation for taxability purposes, which contribution may earn tax-free earnings, gains, or interest if the applicable provisions of Code §402A are satisfied.
