Deferred Profit Sharing Plan Clause Samples
Deferred Profit Sharing Plan. You are not allowed to withdraw or transfer outside established plan, any of the Company contributions (Deferred Profit Sharing Plan - DPSP) or earnings until retirement or termination.
Deferred Profit Sharing Plan. Employee’s Deferred Profit Sharing Plan account is 100% vested. Employee is eligible for a regular company contribution through the effective date of termination, and no further contributions will be made thereafter. Employee’s eligibility to make voluntary employee contributions will terminate on the effective date of Employee’s termination. Any existing Wellness or Plan Credits designated as a DPSP contribution will default to taxable cash through the end of the severance period or the end of the current calendar year should the severance period extend beyond the current calendar year. Distribution of DPSP account values will be made in accordance with the provisions of the Plan. Questions regarding Deferred Profit Sharing should be directed to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ at ▇▇▇ ▇▇▇-▇▇▇▇. Additionally, you may contact ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ to discuss the distribution of your Non-qualified Deferred Compensation Plan (NQ Plan) account. Distribution of your NQ Plan account will be made in accordance with such plans and applicable regulations, including, without limitation, Section 409A of the Internal Revenue Code and regulations issued thereunder.
Deferred Profit Sharing Plan. The company will contribute .83 cents per hour into the Company’s Deferred Profit Sharing Plan beginning April 1, 2017; .85 cents per hour into the Company’s Deferred Profit Sharing Plan beginning April 1, 2018; and .87 cents per hour into the Company’s Deferred Profit Sharing Plan beginning April 1, 2019.