ALLOCATION OF MATCHING CONTRIBUTIONS Clause Samples
The Allocation of Matching Contributions clause defines how employer matching contributions are distributed to employees' retirement or benefit accounts. Typically, this clause outlines the formula or percentage the employer will match based on the employee's own contributions, and may specify eligibility requirements, vesting schedules, or limits on the matching amount. Its core practical function is to ensure transparency and fairness in how matching funds are provided, encouraging employee participation while clearly delineating the employer's obligations.
ALLOCATION OF MATCHING CONTRIBUTIONS. The Committee or its designee shall separately allocate the Matching Contribution made by an Employer among the Employer's Participants in the proportion which the matched Salary Deferral Contributions and matched After-Tax Contributions of each such Participant bears to the total matched Salary Deferral Contributions and matched After-Tax Contributions of all such Participants. Each Participant's proportionate share shall be credited to his Matching Contribution Account.
ALLOCATION OF MATCHING CONTRIBUTIONS. If Matching Contributions will be made, allocations will be made to each Participant who satisfies the applicable requirements of Section E of this Participating Employer Agreement.
ALLOCATION OF MATCHING CONTRIBUTIONS. If Matching Contributions will be made, allocations will be made to each Participant who satisfies the requirements of Section
ALLOCATION OF MATCHING CONTRIBUTIONS. Employer Matching Contributions shall be allocated pursuant to the terms of the Basic Plan Document, notwithstanding the foregoing:
ALLOCATION OF MATCHING CONTRIBUTIONS. (a) Any contribution made by an Adopting Company for a Plan Year shall first be allocated to the Matching Contribu tions Accounts of those Participants employed thereby who have been credited with a Year of Service for such Year as follows:
(1) For the Plan Year ending June 30, 1990, if the High Average Actual Deferral Percentage for such Plan Year would exceed the higher of the two Percentage Limitations described in Section 4.5(b), the portion of such Adopting Company's contribution for such Year which equals the smal lest aggregate amount which, when allocated to the Matching Contributions Accounts of those Partici pants employed thereby who are Non-Highly Compensated Employees in the same ratios which each such Participant's Salary Reduction Contribution for such Year bears to the aggregate of the Salary Reductions Contributions of all of such Participants and included as constituting Salary Reduction Contributions of such Participants in computing the Low Average Actual Deferral Percentage, will result in the High Ave rage Actual Deferral Percentage meeting one of such Percentage Limitations shall be allocated to the Matching Company Contributions Accounts of such Participants who are Non-Highly Compensated Employees. By so providing, each Adopting Company intends that any amount allocated to the Matching Contributions Account of a Participant who is a Non-Highly Compensated Employee pursuant to the provisions of this Section 5.1(a)(1) constitute a qualified nonelective contribution. Accordingly, all of such amounts shall be deemed to constitute Salary Reduction Contributions for purposes hereof.
(2) For Plan Years beginning after June 30, 30, 1990, the portion of such Adopting Company's contribution which equals the aggregate amount which, when allocated to the Matching Contributions Account of each Participant employed thereby on the basis of One Dollar ($1.00) for each One Dollar ($1.00) of such Participant's ▇▇▇ ▇▇▇ Reduction Contribution for such Year up to but not exceeding Two Hundred Dollars ($200.00), or such other amount as the Sponsoring Company may specify for such Plan Year (the "Dollar For Dollar Match Limit"), shall be allocated to each such Participant's Matching Contributions Account. All of such amounts shall be deemed to constitute Salary Reduction Contributions for all purposes hereof other than the provisions of Section 5.1(a)(4); thereafter, for succeeding Plan Years beginning after June 30, 1991, the portion of such Adopting Com...
ALLOCATION OF MATCHING CONTRIBUTIONS. Employer Matching Contributions shall be allocated pursuant to the terms of the Basic Plan Document, notwithstanding the foregoing:
(A) [X] retirement (B) [ ] disability (C) [X] death (D) [ ] other, as specified below:
(A) [X] as of each pay period for which a contribution was made pursuant to a Salary Reduction Agreement.
(B) [ ] semi-monthly.
(C) [ ] as of the last day of the month preceding the month in which the contribution was made.
(D) [ ] as of the last day of the Plan quarter preceding the quarter in which the contribution was made.
(E) [ ] as of the last day of the Plan year.
ALLOCATION OF MATCHING CONTRIBUTIONS. The Committee or its designee shall separately allocate the Matching Contribution made by an Employer among the Employer’s Participants in the proportion which the matched Salary Deferral Contributions matched Catch-up Salary Deferral Contributions, and matched After–Tax Contributions of each such Participant bear to the total matched Salary Deferral Contributions, matched Catch-up Salary Deferral Contributions, and matched After–Tax Contributions of all such Participants. Each Participant’s proportionate share shall be credited to his Matching Contribution Account.
ALLOCATION OF MATCHING CONTRIBUTIONS. Employer Matching Contributions shall be allocated pursuant to the terms of the Basic Plan Document, notwithstanding the foregoing:
i ________ A Participant who terminates before the end of the period for which contributions are allocated shall share in the allocation of Employer Matching Contributions if termination of employment was the result of (select all that apply):
(a) retirement (b) ______ disability (c) ______ death (d) ______ other, as specified below: -------------------------- -------------------------- --------------------------
ALLOCATION OF MATCHING CONTRIBUTIONS. The Committee or its designee shall separately allocate the Matching Contribution made by an Employer among the Employer’s Participants in the proportion which the matched Salary Deferral Contributions, matched Catch-up Salary Deferral Contributions, and, for periods beginning before January 1, 2007, matched After-Tax Contributions of each such Participant bear to the total matched Salary Deferral Contributions, matched Catch-up Salary Deferral Contributions, and, for periods beginning before January 1, 2007, matched After-Tax Contributions of all such Participants. Each Participant’s proportionate share shall be credited to his Matching Contribution Account.
ALLOCATION OF MATCHING CONTRIBUTIONS. At the time of payment of Matching Contributions to the Trust pursuant to Section 4.4, the Employer shall deliver to the Plan Administrator a schedule showing the name of each Participant for whom Matching Contributions are included in such payment and the amount of Matching Contributions for each such Participant as determined by the applicable provisions of the Adoption Agreement. The Participants who are entitled to receive Matching Contributions shall be those Participants on whose behalf Elective Deferrals have been made and who have satisfied the eligibility conditions for receiving Matching Contributions as set forth in the Adoption Agreement. Subject to the provisions of Articles VI and XII, the Plan Administrator shall allocate to the Matching Account of each Participant listed on such schedule the amount of Matching Contributions made on his behalf to the Trust as shown therein.