Contribution Limits definition

Contribution Limits. The IRS limits the amount a participant may contribute to an employer's retirement plan. These limits are based on the calendar year, and may change from year to year. While ORU will monitor your deferral contributions and attempt to prevent an excess contribution, you are primarily responsible for ensuring that your contributions do not exceed the allowable limit. Basic Limit: Unless you are eligible for one of the "catch-up" rules described below, the annual contribution limit for deferral contributions is $22,500 for 2023. This limit applies to your aggregate deferral contributions to the Plan. Your pre-tax contributions and Xxxx contributions are aggregated for this purpose. • Age 50 Rule: If you will be age 50 or older by the end of 2022, you may contribute an additional $7,500 for 2023. Please indicate your use of this provision by checking the appropriate blank on the Retirement Enrollment Agreement form.
Sample 1
Contribution Limits. The IRS limits the amount a participant may contribute into an employer's retirement plan. These limits are based on the calendar year, and may change from year to year. While ORU will monitor your deferral contributions and attempt to prevent an excess contribution, you are primarily responsible for ensuring that your contributions do not exceed the allowable limit.
Sample 1Sample 2Sample 3
Contribution Limits. The minimum initial contribution is $500. Subsequent contributions must be at least $100. The current maximum contribution limit for all Plan Accounts for the same beneficiary under all 529 savings plans sponsored by the State of Nevada is $500,000. Although you can no longer contribute to an Account once this limit is reached, the Account may continue to grow through investment returns. Residency Requirements: You do not have to be a resident of Nevada. You must simply be a U.S. citizen or resident alien.
Sample 1

Examples of Contribution Limits in a sentence

  • If this Agreement requires Council approval, Contractor must sign and date an Acknowledgment of Campaign Contribution Limits Form.

  • If this Agreement requires Council approval, Contractor must sign and date an Acknowledgment of Campaign Contribution Limits Form attached hereto and incorporated herein as Schedule O.

  • Thus, such a member would benefit from receiving, as compensation, in their final year of employment that portion of the Employer Non-elective contribution, which is in excess of the maximum Contribution Limits of IRC §415.

  • Deductions from your paycheck will be made pre- tax up to the HSA Contribution Limits designated by the IRS.

  • The maximum amount of voluntary contributions by the member when added to the other employer contributions made by Council shall not exceed the Australian Tax Office's Age Based Contribution Limits and in any event shall not reduce the wages of the employee below that required to meet any order of a court, child support agency, garnishee or like impost on that employee's pay.

  • Contribution Limits All contributions will be limited to R36 000 during any year and R500 000 over the life of an individual Investor.• No contributions in excess of the contribution limits will be accepted.• The investment must come from your discretionary investments or new savings.

  • Further, if this Agreement is subject to the Campaign Reform Act, Contractor must complete and submit Schedule O, Acknowledgment of Campaign Contribution Limits, which shall be attached hereto and incorporated herein.

  • Most Contribution Limits Remain IntactPre-existing limits on contributions to campaigns, parties, and PACs generally remain in effect.

  • For contracts with the Oakland Unified School District, please contact the Oakland Unified School District.Contractor Acknowledgement ofCity of Oakland Campaign Contribution Limits To be completed by City Representative prior to distribution to ContractorCity Representative Phone Project Spec No. Department Contract/Proposal Name This is an Original Revised form (check one).

  • For additional discussion, see CRS Report R43825, Increased Campaign Contribution Limits in the FY2015 Omnibus Appropriations Law: Frequently Asked Questions, by R.


More Definitions of Contribution Limits

Contribution Limits. The IRS limits the amount a participant may contribute to an employer's retirement plan. These limits are based on the calendar year, and may change from year to year. While ORU will monitor your deferral contributions and attempt to prevent an excess contribution, you are primarily responsible for ensuring that your contributions do not exceed the allowable limit. Basic Limit: Unless you are eligible for one of the "catch-up" rules described below, the employee annual contribution limit for deferral contributions is $23,000 for 2024. This limit applies to your aggregate deferral contributions to the Plan. The 2024 annual limit for employee and employer match combined is $69,000. Your pre-tax contributions and Xxxx contributions are aggregated for this purpose. • Age 50 Rule: If you will be age 50 or older by the end of 2023, you may contribute an additional $7,500 for 2024. Please indicate your use of this provision by checking the appropriate blank on the Retirement Enrollment Agreement form.
Sample 1
Contribution Limits. (check the appropriate box(es)):
Sample 1

Related to Contribution Limits

  • Catch-Up Contributions means Salary Reduction Contributions made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are Age 50 or over by the end of their taxable years. An “otherwise applicable Plan limit” is a limit in the Plan that applies to Salary Reduction Contributions without regard to Catch-up Contributions, such as the limits on Annual Additions, the dollar limitation on Salary Reduction Contributions under Code Section 402(g) (not counting Catch-up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500.

  • Defined Contribution Dollar Limitation means, for any Limitation Year, $46,000, as adjusted for increases in the cost-of-living under Code section 415(d). If a short Limitation Year is created because of a Plan amendment changing the Limitation Year to a different 12-consecutive month period, the Defined Contribution Dollar Limitation for the short Limitation Year will not exceed the amount determined in the preceding sentence multiplied by a fraction, the numerator of which is the number of months in the short Limitation Year and the denominator of which is 12.

  • Contribution Rate means, in a reserve study as described in RCW 64.38.065, the amount contributed to the reserve account so that the association will have cash reserves to pay major maintenance, repair, or replacement costs without the need of a special assessment.

  • Deduction Limitation means the following described limitation on a benefit that may otherwise be distributable pursuant to the provisions of this Plan. Except as otherwise provided, this limitation shall be applied to all distributions that are “subject to the Deduction Limitation” under this Plan. If an Employer determines in good faith prior to a Change in Control that there is a reasonable likelihood that any compensation paid to a Participant for a taxable year of the Employer would not be deductible by the Employer solely by reason of the limitation under Code section 162(m), then to the extent deemed necessary by the Employer to ensure that the entire amount of any distribution to the Participant pursuant to this Plan prior to the Change in Control is deductible, the Employer may defer all or any portion of a distribution under this Plan. Any amounts deferred pursuant to this limitation shall continue to be credited/debited with additional amounts in accordance with Section 3.7 below, even if such amount is being paid out in installments. The amounts so deferred and amounts credited thereon shall be distributed to the Participant or his or her Beneficiary (in the event of the Participant’s death) at the earliest possible date, as determined by the Employer in good faith, on which the deductibility of compensation paid or payable to the Participant for the taxable year of the Employer during which the distribution is made will not be limited by Code section 162(m), or if earlier, the effective date of a Change in Control. Notwithstanding anything to the contrary in this Plan, the Deduction Limitation shall not apply to any distributions made after a Change in Control.

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Excess Contribution means a contribution that exceeds the

  • Contribution Percentage means the percentage obtained by dividing (x) the Adjusted Net Worth (as defined below) of such Guarantor by (y) the aggregate Adjusted Net Worth of all Guarantors; (ii) the “Adjusted Net Worth” of each Guarantor shall mean the greater of (x) the Net Worth (as defined below) of such Guarantor and (y) zero; and (iii) the “Net Worth” of each Guarantor shall mean the amount by which the fair saleable value of such Guarantor’s assets on the date of any Relevant Payment exceeds its existing debts and other liabilities (including contingent liabilities, but without giving effect to any Guaranteed Obligations arising under this Guaranty or any guaranteed obligations arising under any guaranty of any Permitted Additional Indebtedness) on such date. Notwithstanding anything to the contrary contained above, any Guarantor that is released from this Guaranty pursuant to Section 17 hereof shall thereafter have no contribution obligations, or rights, pursuant to this Section 18, and at the time of any such release, if the released Guarantor had an Aggregate Excess Amount or an Aggregate Deficit Amount, same shall be deemed reduced to $0, and the contribution rights and obligations of the remaining Guarantors shall be recalculated on the respective date of release (as otherwise provided above) based on the payments made hereunder by the remaining Guarantors. All parties hereto recognize and agree that, except for any right of contribution arising pursuant to this Section 18, each Guarantor who makes any payment in respect of the Guaranteed Obligations shall have no right of contribution or subrogation against any other Guarantor in respect of such payment until the Termination Date. Each of the Guarantors recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive its contribution right against any Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Required Lenders.

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Loss Allocation Limitation As defined in Section 4.4(g).

  • Company Contribution Amount means, for any one Plan Year, the amount determined in accordance with Section 3.5.

  • Contribution Date has the meaning set forth in Section 4.3 hereof.

  • Cash Contribution Amount means the aggregate amount of cash contributions made to the capital of the Company described in the definition of “Contribution Indebtedness.”

  • Matching Contributions are contributions made by the Employer on account of elective deferrals under a Code Section 401(k) arrangement or on account of employee contributions. Matching contributions also include Participant forfeitures allocated on account of such elective deferrals or employee contributions.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee’s account under any plan of an Employer or a Related Company solely on account of “elective contributions” made on his behalf or “employee contributions” made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Compensation Limit means the compensation limit of Section 401(a)(17) of the Code, as adjusted under Section 401(a)(17)(B) of the Code for increases in the cost of living.

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • Cash contributions means the re- cipient’s cash outlay, including the outlay of money contributed to the re- cipient by third parties.

  • Contribution Period means the period specified in Article VI for which Employer Contributions shall be made.

  • Elective Contribution means the Employer contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess “annual additions” pursuant to Section 4.11(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.7(b) which is used to satisfy the “Actual Deferral Percentage” tests shall be considered an Elective Contribution for purposes of the Plan. Any contributions deemed to be Elective Contributions (whether or not used to satisfy the “Actual Deferral Percentage” tests or the “Actual Contribution Percentage” tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the nondiscrimination requirements of Regulation 1.401(k)-1(b)(5) and Regulation 1.401(m)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • Additional contributions means contributions made by a member of a defined benefit plan to

  • Contribution Amounts the aggregate amount of capital contributions applied by the Borrower to permit the Incurrence of Contribution Indebtedness pursuant to Subsection 8.1(b)(xi).

  • Annual Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;