Limits on Employer Matching Contributions Sample Clauses

Limits on Employer Matching Contributions. Section 401(m)(2) of the Internal Revenue Code and the regulations thereunder are incorporated in this Plan by reference. The limitation contained in Section 401(m)(2)(A)(i) is referred to in this Plan as Limit C and that contained in Section 401(m)(2)(A)(ii) is referred to as Limit D. For purposes of calculating Limit C or D, the following rules apply: (i) The ACP of all eligible Employees will be taken into account, (ii) An eligible Employee is any Employee who is directly or indirectly eligible to receive an Employer Contribution and includes an Employee who would be a Participant or would receive an Employer Contribution but for the failure to make a cash or deferred election, an Employee whose right to make a cash or deferred election has been suspended because of an election (other than certain one-time elections) not to participate because of receipt of a distribution or because his or her compensation is below a stated amount. (iii) In the case of an Employee who is eligible to participate in the Plan and who makes or receives no Employer Contribution, the contribution ratio that is to be included in the ACP is zero. (iv) An Employer Contribution is taken into account for a Plan ~(ear only if it is M made on account of the Participant's cash or deferred election for the Plan Year, II) allocated to the Participant's Employer Contribution Account during that Plan Year and (III) paid to the Trust Fund by the end of the 12th month following the close of the Plan Year. (v) All Employer Contributions that are made under two or more plans that are aggregated for purposes of Sections 401(a)(4) and 410(b) (other than Section 410(b)(2)(A)) of the Internal Revenue Code are to be treated as made under a single plan and if two or more plans are permissively aggregated for purposes of Section 401(m) of the Internal Revenue Code, the aggregated plans must satisfy Sections 401(a)(4) and 410(b) of the Internal Revenue Code as though they were a single plan, (vi) In the case of a highly Highly-Compensated Participant who is either a 5% owner or one of the ten most Highly-Compensated Participants and is thereby subject to the family aggregation rules of Section 414(q)(6) of the Internal Revenue Code, the ACP for the family group (which is treated as one Highly- Compensated Participant) is the greater of (a) the ACP determined by combining the contributions and compensation of all eligible family members who are highly compensated without regard to family aggregation ...
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Related to Limits on Employer Matching Contributions

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Company Contributions (a) For employees hired, rehired or who become covered under the CWA 3176 Agreement through any means before January 1, 2016, the Company shall contribute a Company Matching Contribution equal to 25 percent of the Participant’s Contribution up to a maximum of 6 percent of eligible wage.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

  • Employee Contributions Any member of the bargaining unit who is hired on or after September 1, 2010 is eligible to make a voluntary contribution to the City=s Deferred Compensation Plan offered by Ameritas.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

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