Qualified Nonelective Contribution Sample Clauses

Qualified Nonelective Contribution. If the Employer specifies in the Adoption Agreement that Qualified Nonelective Contributions shall be made to the Plan, the Employer and each Participating Affiliate shall make Qualified Nonelective Contributions for each eligible Participant in such amount and as of each Allocation Date specified in the Adoption Agreement. In addition, in lieu of distributing Excess Contributions as provided in section 7.4(d) or Excess Aggregate Contributions as provided in section 7.5(d), the Employer and each Participating Affiliate may contribute on behalf of each Participant who is a Nonhighly Compensated Employee on the last day of each Plan Year such amount, if any, as the Employer and each Participating Affiliate determine in their discretion to contribute for such Plan Year to satisfy the ADP limit of section 7.4(b) or the ACP limit of section 7.5(b), or both, pursuant to the regulations under Code section 401(k) and Code section 401(m). Qualified Nonelective Contributions shall be subject to the following special rules:
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Qualified Nonelective Contribution. 14 2.63. Qualified Nonelective Contribution Account..............................................14 ARTICLE 3. PARTICIPATION..................................................................................15 3.1. Initial Participation...................................................................15 3.2. Special Participation Rule..............................................................16 3.3. Resumed Participation...................................................................16 3.4. Benefits for Owner-Employees............................................................16 3.5. Changes in Classification...............................................................17 ARTICLE 4. CONTRIBUTIONS..................................................................................18 4.1. Provisions Applicable to All Plans......................................................18 4.2. Provisions Applicable Only to Profit Sharing Plans......................................19 4.3. Provisions Applicable Only to Money Purchase Pension Plans..............................22 4.4. Forfeitures.............................................................................24 4.5. Rollover Contributions..................................................................24 -11- 56
Sample 1
Qualified Nonelective Contribution. On behalf of each Participant who is eligible to share in the Qualified Nonelective Contribution for the Plan Year, a discretionary Qualified Nonelective Contribution equal to a uniform percentage of each eligible individual’s Compensation or 415 Compensation. Such Qualified Nonelective Contribution shall be allocated to the Qualified Nonelective Contribution Account.
Sample 1
Qualified Nonelective Contribution. If the Employer specifies in the Adoption Agreement that Qualified Nonelective Contributions shall be made to the Plan, the Employer and each Participating Affiliate shall make Qualified Nonelective Contributions for each eligible Participant in such amount and as of each Allocation Date specified in the Adoption Agreement. In addition, in lieu of distributing Excess Contributions as provided in (S)7.4(d) or Excess Aggregate Contributions as provided in (S)7.5(d), the Employer and each Participating Affiliate may contribute on behalf of each Participant who is a Nonhighly Compensated Employee on the last day of each Plan Year such amount, if any, as the Employer and each Participating Affiliate determine in their discretion to contribute for such Plan Year to satisfy the ADP limit of (S)7.4(b) or the ACP limit of (S)7.5(b), or both, pursuant to the regulations under the Code (S)401(k) and Code (S)491(m). Qualified Nonelective Contributions shall be subject to the following special rules:
Sample 1

Related to Qualified Nonelective Contribution

  • 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.

  • Safe Harbor The recipient government will then compare the reporting year’s actual tax revenue to the baseline. If actual tax revenue is greater than the baseline, Treasury will deem the recipient government not to have any recognized net reduction for the reporting year, and therefore to be in a safe harbor and outside the ambit of the offset provision. This approach is consistent with the ARPA, which contemplates recoupment of Fiscal Recovery Funds only in the event that such funds are used to offset a reduction in net tax revenue. If net tax revenue has not been reduced, this provision does not apply. In the event that actual tax revenue is above the baseline, the organic revenue growth that has occurred, plus any other revenue-raising changes, by definition must have been enough to offset the in-year costs of the covered changes.

  • 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.

  • 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:

  • Partial Employer Contribution - Basic Eligibility The following employees covered by this Agreement receive the full Employer Contribution for basic life coverage, and at the employee's option, a partial Employer Contribution for health and dental coverages if they are scheduled to work at least fifty (50) percent but less than seventy-five (75) percent of the time. This means:

  • 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.

  • 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.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04.

  • The Contribution 4.1 The Minister will make a non-repayable Contribution to the Recipient in respect of the Project in an amount not exceeding the lesser of (a) and (b) as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.