Limitations on Safe Harbor Matching Contributions. If a Safe Harbor Matching Contribution is made to the Plan: [ ] a. The Employer elects to match Safe Harbor Matching Contributions on an annual basis. [ ] b. The Employer elects to match actual Elective Deferrals made: [ ] i. on a payroll basis [Plan defaults to this election]. [ ] ii. on a monthly basis. [ ] iii. on a Plan Year quarterly basis. [ ] iv. The Employer elects to true up Safe Harbor Matching Contributions made to the Plan on the above basis. If one of the Matching Contribution calculation periods at paragraph (7)(b) above is selected, Matching Contributions must be deposited to the Plan not later than the last day of the calendar quarter next following the quarter to which they relate.
Appears in 4 contracts
Samples: Nonstandardized Adoption Agreement (1st Constitution Bancorp), Nonstandardized Adoption Agreement (Connecticut Water Service Inc / Ct), Prototype Defined Contribution Plan (Old Dominion Freight Line Inc/Va)
Limitations on Safe Harbor Matching Contributions. If a Safe Harbor Matching Contribution is made to the Plan: [ ] a. The Employer elects to match Safe Harbor Matching Contributions on an annual basis. [ ] b. The Employer elects to match actual Elective Deferrals made: [ ] i. on a payroll basis [Plan defaults to this election]). [ ] ii. on a monthly basis. [ ] iii. iii on a Plan Year quarterly Quarterly basis. [ ] iv. The Employer elects to true up Safe Harbor Matching Contributions made to the Plan on the above basis. If one of the Matching Contribution calculation periods at paragraph (7)(b) above is selected, Matching Contributions must be deposited to the Plan not later than the last day of the calendar quarter next following the quarter to which they relate.
Appears in 1 contract
Samples: Prototype Defined Contribution Plan (Savannah Bancorp Inc)
