Nonelective Contributions. To the extent the Employer makes nonelective contributions for the Plan Year which, at the time of contribution, it does not designate as qualified nonelective contributions, the Advisory Committee will allocate those contributions in accordance with the elections under Section 3.04 of the Employer's Adoption Agreement. For purposes of the special nondiscrimination tests described in Sections 14.08 and 14.09, the Advisory Committee may treat nonelective contributions allocated under this paragraph as qualified nonelective contributions, if the contributions otherwise satisfy the definition of qualified nonelective contributions.
Nonelective Contributions. Under the same provisions which apply to Nonelective Contributions.
Nonelective Contributions. During each Taxable Year the Employer will contribute a Nonelective Contribution for each Participant equal to (choose (a) or (f) or choose one or more of (b) – (e)):
Nonelective Contributions. If the Employer makes a nonelective contribution for the Plan Year which the Employer does not designate as a qualified nonelective contribution, the Plan Administrator will allocate the nonelective contribution in accordance with Adoption Agreement Section 3.04. For purposes of the nondiscrimination tests described in Sections 14.08 (ADP test), 14.09 (ACP test) and 14.10 (multiple use limitation), the Plan Administrator may treat nonelective contributions allocated under this Section 14.06(D) as qualified nonelective contributions, if the contributions otherwise satisfy the definition of qualified nonelective contributions. The Employer, to facilitate the Plan Administrator's correction of test failures under Sections 14.08, 14.09 and 14.10, also may make qualified nonelective contributions to the Plan irrespective of whether the Employer in its Adoption Agreement has elected to provide nonelective contributions.
Nonelective Contributions. Instead of making a matching contribution, you may, for any year, make a nonelective contribution equal to 2% of compensation for each eligible employee who has at least $5,000 in compensation for the year. Nonelective contributions may not be based on more than $210,000* of compensation. To elect to make nonelective contributions, you must notify employees within a reasonable period of time before the applicable 60-day election periods for such year. See Timing of Salary Reduction Elections above. Note: Insert “$5,000” in Article III, item 2b(i) to impose the $5,000 compensation requirement. You may expand the group of employees who are eligible for nonelective contr ibutions by inserting a compensation amount lower than $5,000. Effective Date (Article VII) Insert in Article VII, the date you want the provisions of the SIMPLE IRA plan to become effective. You must insert January 1 of the applicable year unless this is the first year for which you are adopting any SIMPLE IRA plan. If this is the first year for which you are adopting a SIMPLE IRA plan, you may insert any date between January 1 and October 1, inclusive of the applicable year. Additional Information
Nonelective Contributions. (Choose any combination of (1) through (4))
Nonelective Contributions. In lieu of making Matching Contributions described in Section 5.3(b), the Employer must make Nonelective Contributions to the SIMPLE IRA for each Eligible Employee in an amount equal to two percent (2%) of the Eligible Employee’s Compensation. In order to elect to make such Nonelective Contributions for a calendar year, the Employer must notify all Eligible Employees of such election within a reasonable time before the Election Period for that Plan Year. Compensation of each Participant taken into account under the Plan in determining the 2% Nonelective Contributions shall not exceed the limits described in Section 401(a)(17) of the Code, as adjusted by the Secretary of the Treasury for increases in the cost of living in accordance with Section 401(a)(17) of the Code. Such adjustments will be in multiples of $5,000. (The Compensation limit for 2002 is $200,000.)
Nonelective Contributions. The following modifications apply to the definition of Compensation for nonelective contributions: .
Nonelective Contributions. See Sections 1.48 and 3.04 and Elections 25 through 28. [Note: The Employer may make an Operational QNEC without electing 6(d). See Section 3.04(C)(2). If the only Nonelective Contributions are Safe Harbor Contributions, choose 6(f) and do not choose 6(d).]
Nonelective Contributions. In lieu of Employer Matching Contributions, the Employer shall make a contribution of 2% of Compensation (Compensation not to exceed the limits described in Section 401(a)(17) of the Code, as adjusted by the Secretary of the Treasury for increases in the cost of living in accordance with Section 401(a)(17) of the Code, or $200,000 for 2002) for each Eligible Employee, regardless of whether the Eligible Employee elects to make Elective Deferrals to the Plan.
