Allocation of Employer Contributions and Forfeitures Sample Clauses

Allocation of Employer Contributions and Forfeitures. Participants will be eligible to receive the allocation of the Employer's Matching and Discretionary Contributions only if such Participants have completed a Year of Service during such Plan Year and are actively employed on the last day of such Plan Year. Notwithstanding the foregoing, Participants who are not actively employed on the last day of the Plan Year due to Disability, Normal, or Postponed Retirement or death will be eligible to receive the Employer's Matching and Discretionary Contributions regardless of the number of Hours of Service completed during such Plan Year. Any Forfeitures of Employer Contributions which arise will be used first to pay all or a part of the expenses of the Plan, and then if any amount remains, to reduce Employer Contributions to the Plan for such Plan Year in which the Forfeiture occurred. Notwithstanding anything to the contrary, for Plan Years beginning after December 31, 1989, if this is a Plan that would otherwise fail to meet the requirements of Code sections 401(a)(26), 410(b)(1) or 410(b)(2)(A)(i) and the Regulations thereunder because Employer Contributions have not been allocated to a sufficient number or percentage of Participants for a Plan Year, then the following rules will apply:
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Allocation of Employer Contributions and Forfeitures. (a) All money purchase contributions for a given Plan Year shall be allocated to the Account of the Participant for whom such contributions were made. Any forfeiture from a Participant’s money purchase contribution Subaccount arising under the Plan for a given Plan Year shall be applied as specified in the Adoption Agreement either: (i) to reduce the Employer Contribution in that year, or if in excess of the Employer Contribution for such Plan Year, the excess amounts shall be used to reduce the Employer Contribution in the next succeeding Plan Year or Years or (ii) to be added to the Employer contributions and allocated accordingly.
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Allocation of Employer Contributions and Forfeitures. (a) Discretionary Contributions: Allocation in Proportion to Compensation
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Allocation of Employer Contributions and Forfeitures. (Complete only if an integrated allocation formula is chosen.)
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Allocation of Employer Contributions and Forfeitures. (a) Discretionary Contributions: Allocation in Proportion to Compensation. If the Employer elects to make Discretionary Contributions, all such Contributions shall be allocated to the Employer Discretionary Account of each Participant entitled to share in the allocation of such Contributions, as of each Valuation Date. Except to the extent otherwise elected by the Employer in the Adoption Agreement, only those Participants who have completed a Year of Service during the Plan Year and who are employed on the last day of the Plan Year shall share in the allocation of Discretionary Contributions for such Plan Year, and then only on the basis of their respective Compensation, unless otherwise elected by the Employer in the Adoption Agreement. The preceding sentence notwithstanding, a Participant who has Separated from Service, during the Plan Year for which a Discretionary Contribution is made, due to retirement, death or Disability, and who is otherwise eligible to receive an allocation of a Discretionary Contribution, shall receive an allocation of the Discretionary Contribution for such Plan Year.
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Allocation of Employer Contributions and Forfeitures 
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Related to Allocation of Employer Contributions and Forfeitures

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Company Contributions (a) For employees hired, rehired or who become covered under the CWA 3176 Agreement through any means before January 1, 2016, the Company shall contribute a Company Matching Contribution equal to 25 percent of the Participant’s Contribution up to a maximum of 6 percent of eligible wage.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Amount of Employer Contribution The Employer Contribution amounts and rules in effect on June 30, 2017 will continue through December 31, 2017.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

  • 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.

  • Voluntary Employee Contributions (i) Subject to the governing rules of the relevant superannuation fund, an employee may, in writing, authorise their employer to pay on behalf of the employee a specified amount from the post- taxation wages of the employee into the same superannuation fund as the employer makes the superannuation contributions provided for in Clause 24(b).

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

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