DC Plan Clause Samples
A DC Plan clause defines the terms and conditions related to a defined contribution retirement plan offered by an employer. It typically outlines how contributions are made by both the employer and employee, how funds are invested, and the process for employees to access their account balances upon retirement or termination. This clause ensures that both parties understand their rights and obligations regarding retirement savings, providing clarity and structure to the management of retirement benefits.
DC Plan. The Dresser, Inc. Retirement and Savings Plan, effective April 10, 2001.
DC Plan. The Dresser Industries, Inc. Retirement Savings Plan-A, or the Dresser Industries, Inc. Retirement Savings Plan-B.
DC Plan. Retirement benefits for the existing Genesee County 401(a) Defined Contribution Plan (DC Plan) are governed by the applicable provisions of the Genesee County Retirement Ordinance and amendments thereto, together with the applicable IRS Rules, Genesee County Board Resolutions, Plan Documents, the rules of the Plan Administrator and governing law.
DC Plan. On the Implementation Date, all employees will become participants in the DC Plan, subject to the terms and conditions of such DC Plan. Non-Elective contributions • For 2013 Only o PMC will contribute five percent (5%) as a non- elective employer contribution at the end of the 2013 plan year, so long as the employee works at least one thousand (1,000) hours in the plan year and remains employed at PMC though the end of the 2013 plan year. If the employee terminates during the year due to death, disability, early retirement, or retirement, PMC will contribute the 5% at termination as long as the employee works at least one-thousand (1,000) hours in the plan year. o Employees who, by combination of age and years of service, achieve a numerical value of at least seventy
DC Plan. The DC Plan is a defined contribution plan and is intended to meet the qualification requirements of Section 401(a) of the Internal Revenue Code of 1986. The University will make contributions each year to your account in the DC Plan. You will have the ability to direct the investment of your account among the DC Plan’s selected investment options. The benefits to be provided through the DC Plan are not the obligations of the State of Oklahoma but are the obligation of the University. The only benefit to be provided under the DC Plan is the vested portion of contributions (and investment earnings thereon) made to the Plan by the University. All contributions by the University are 100% vested immediately.
DC Plan. Retirement benefits for the existing Genesee County 401(a) Defined Contribution Plan (DC Plan) are governed by the applicable provisions of the Genesee County Retirement Ordinance and amendments thereto, together with the applicable IRS Rules, Genesee County Board Resolutions, Plan Documents, the rules of the Plan Administrator and governing law.
Section 19.1 Contributions After completion of five hundred twenty (520) hours of straight-time employment, the Employer will contribute an amount equal to ten percent (10%) of the employee's gross earnings each pay period into the employee's personal DC Plan account. After completion of five hundred twenty (520) hours of straight- time employment, the employee shall contribute a mandatory pre-tax deferral of three percent (3%) of gross earnings or, in the alternative, may voluntarily elect a pre-tax deferral of seven percent (7%) of gross earnings each pay period into the employee’s personal DC Plan account. The election of the deferral amount is irrevocable.
Section 19.2 Vesting Employees shall be one hundred percent (100%) vested at all times on their own employee contributions and investment earnings. Employees shall be vested on Employer contributions and investment earnings according to the following schedule: Completed years of service Percent vested Two (2) years 25% Three (3) years 50% Four (4) years 75% Five (5) years 100%