Common use of Contribution Limitation Clause in Contracts

Contribution Limitation. Please add the dollar amount from section (I) and the dollar amount from sections (II) and (III) if applicable to check the total annual dollar amount estimated. (Will change if pay changes) Example: My salary is 35,000. I’d like to contribute 5% that will be matched and an additional 6% for a total of 11% of my salary: 35000 x .11=$3,850 total employee annual contribution. Enter Total Dollar estimated employee contribution amount $ This amount must not produce a total contribution that exceeds the employee's statutory limitation. It is the participant's responsibility to ensure not to contribute more than your IRS limits. 2022 calendar year limit is $20,500. Employees aged 50 or older or with the institution greater than 15 years may be able to provide catch-up contributions. Please consult your tax adviser or the IRS website for limits. Employee Name (Print) Employee ID Number Employee Signature Date

Contribution Limitation. Please add the dollar amount from section (I) and the dollar amount from sections (II) and (III) if applicable to check the total annual dollar amount estimated. (Will change if pay changes) Example: My salary is 35,000. I’d like to contribute 5% that will be matched and an additional 6% for a total of 11% of my salary: 35000 x .11=$3,850 total employee annual contribution. Enter Total Dollar estimated employee contribution amount $ This amount must not produce a total contribution that exceeds the employee's statutory limitation. It is the participant's responsibility to ensure not to contribute more than your IRS limits. 2022 2023 calendar year limit is $20,50022,500. Employees aged 50 or older or with the institution greater than 15 years may be able to provide catch-up contributions. Please consult your tax adviser or the IRS website for limits. Employee Name (Print) Employee ID Number Employee Signature Date