Limits on Elective Deferrals Clause Samples
Limits on Elective Deferrals. If Elective Deferrals are permitted under the Plan, a Contributing Participant may elect under a salary reduction agreement to have his or her Compensation reduced by an amount as described below (Choose one):
Option 1: [X] An amount equal to a percentage of the Contributing Participant's Compensation from 1 % to 15% in increments of 1%.
Option 2: [ ] An amount of the Contributing Participant's Compensation not less than _______ and not more than ______________ The amount of such reduction shall be contributed to the Plan by the Employer on behalf of the Contributing Participant. For any taxable year, a Contributing Participant's Elective Deferrals shall not exceed the limit contained in Section 402(g) of the Code in effect at the beginning of such taxable year.
Limits on Elective Deferrals. If Elective Deferrals are permitted under the Plan, a Contributing Participant may elect under a salary reduction agreement to have their Compensation reduced by the amount described below. Such amount will be contributed to the Plan by the Employer on behalf of the Contributing Participant (select one):
Option 1: An amount equal to a percentage of the Contributing Participant’s Compensation from percent to percent in increments of percent.
Limits on Elective Deferrals. If Elective Deferrals are permitted under the Plan, a Contributing Participant may elect under a salary reduction agreement to have his or her Compensation reduced by an amount as described below (Choose one):
Limits on Elective Deferrals. In applying the second paragraph of Section 11.01(J) for any taxable year beginning after December 31, 2001, the phrase "the Applicable Dollar Limit for such taxable year" shall be substituted for the phrase "the dollar limit of Section 402(g) of the Code in effect at the beginning of that taxable year". For these purposes, the "Applicable Dollar Limit" for any taxable year beginning after December 31, 2001 and before January 1, 2007 shall be the amount set forth below: Taxable Year Applicable Starting In: Dollar Limit: -------------------------------------------------------- 2002 $11,000 2003 $12,000 2004 $13,000 2005 $14,000 2006 $15,000 For any taxable year starting after December 31, 2006, the "Applicable Dollar Limit" shall be $15,000, as increased by the cost-of-living adjustment, if any, in effect for such year under Section 402(g)(4) of the Code.
Limits on Elective Deferrals. 68 12.3 Catch-Up Contributions.........................................68 12.4 12.04 Vesting of Regular Matching Contributions................69 12.5
Limits on Elective Deferrals. If Elective Deferrals are permitted under the Plan, a Contributing Participant may elect under a salary reduction agreement to have his or her Compensation reduced by an amount as described below (Choose one):
Option 1: [X] An amount equal to a percentage of the Contributing Participant's Compensation from 1 % to 15% in increments of 1%.
Option 2: [ ] An amount of the Contributing Participant's Compensation not less than __ and not more than __. The amount of such reduction shall be contributed to the Plan by the Employer on behalf of the Contributing Participant. For any taxable year, a Contributing Participant's Elective Deferrals shall not exceed the limit contained in Section 402(g) of the Code in effect at the beginning of such taxable year. Part C. Elective Deferrals Based on Bonuses: Instead of or in addition to making Elective Deferrals through payroll deduction, may a Contributing Participant elect to contribute to the Plan, as an Elective Deferral, part or all of a bonus rather than receive such bonus in cash? (Choose one) Option 1: [ ] Yes.