All Plans. The provisions of this subparagraph apply to all plans. We shall pay to the Insurer or Trustee, as applicable, the Elective Deferral Contributions, Qualified Matching Contributions, and Qualified Nonelective Contributions for each Plan Year not later than the end of the 12-month period immediately following the Plan Year for which they are deemed to be paid. If Items O(8)(b)(i) and O(8)(b)(i)C(1), (2), or (3) are selected, we shall pay to the Insurer or Trustee, as applicable, the Qualified Matching Contributions calculated based on Elective Deferral Contributions and Pay for the pay period specified in Item O(8)(b)(i)C not later than the last day of the following Plan-year Quarter. All Contributions are forwarded by us to the Trustee to be deposited in the Trust Fund or to the Insurer to be deposited under the Annuity Contract, as applicable. Contributions that are accumulated through payroll deduction shall be paid to the Trustee or Insurer, as applicable, by the earlier of (i) the date the Contributions can reasonably be segregated from our assets, or (ii) the 15th business day of the month following the month in which the Contributions would otherwise have been paid in cash to the Member.
Appears in 2 contracts
Sources: 401(k) Profit Sharing Plan Adoption Agreement (First Financial Northwest, Inc.), 401(k) Profit Sharing Plan (Community Bancorp)