Salary Deferral Agreement. An agreement between the Employer and an Employee where the Employee authorizes the Employer to withhold a specified percentage or dollar amount of his or her Compensation (otherwise payable in cash) for deposit to the Plan on behalf of such Employee.
Salary Deferral Agreement. Salary Deferral Agreements may be entered into as of such date or dates (but at least once per Plan Year) as established by the Administrator in an administrative policy regarding Elective Deferrals promulgated under Section 8.6. A Participant may thereafter modify a Salary Deferral Agreement to increase or decrease the percentage or amount being withheld as permitted under such administrative policy. The Participant may also at any time suspend or cancel his or her Salary Deferral Agreement upon reasonable written notice to the Administrator. If a Participant cancels or suspends his or her Salary Deferral Agreement, the Participant will not be permitted to put a new Salary Deferral Agreement into effect until such time as set forth in such administrative policy. If necessary to insure that the Plan satisfies the ADP Test or upon a Participant reaching the Elective Deferral limit of Code §402(g) with respect to such Participant’s Elective Deferrals in the Plan, then the Sponsoring Employer may temporarily suspend a Participant’s Salary Deferral Agreement upon notice to the Participant. If a Participant has not elected in his or her Salary Deferral Agreement to withhold at the maximum rate permitted by the Plan for a Plan Year and the Participant wants to increase the total amount withheld for that Plan Year up to the maximum permitted rate, then the Participant can make a supplemental election at any time during the last two months of the Plan Year to withhold an additional amount for one or more pay periods (including, if elected in the Adoption Agreement, Catch-Up Contributions not in excess of the Catch-Up Contribution Limit). An Elective Deferral will constitute a payroll deduction authorization for purposes of applicable state law. If automatic enrollment is elected in the Adoption Agreement pursuant to paragraph (g) above, then the Participant must be given an effective opportunity to elect a different amount (including no amount).
Salary Deferral Agreement. Mo Day Year ❑ Female ❑ Male ❑ Married ❑ Unmarried Date of Birth This Agreement shall apply to all compensation paid from the effective date specified, until cancelled, superceded, or the employee ceases to be an eligible employee. This Agreement supercedes all previous agreements. I understand that I may change the percentage of compensation or dollar amount contributed to the Plan only when and as allowed under the terms of the Plan. I also understand that it is my responsibility to comply with the Internal Revenue Code deferral limits. Payroll Information Specify one of the following: ❑ New Enrollment ❑ Restart ❑ Increase Payroll Deduction ❑ Decrease Payroll Deduction ❑ Stop Deductions Specify the following: ❑ I elect to contribute % or $ (per pay period) of my compensation as before-tax contributions to the Governmental 457(b) Deferred Compensation Plan until such time as I revoke or amend my election. Payroll Effective Date: Date of Hire: Mo Day Year Mo Day Year Deferral agreements must be entered into prior to the first day of the month that the deferral will be made. Division Name Division Number Your Consent and Signature I have completed, understand and agree to the terms of this Agreement and authorize the payroll deduction as indicated on this form. Deferral agreements must be entered into prior to the first day of the month that the deferral will be made. I also understand that if I am increasing or decreasing my payroll deductions, the new deferral amount will take effect on the first pay period after the first of the month in which the change was made. If I am stopping payroll deductions, all existing deferrals will be cancelled. Participant Signature Date Participant forward to Plan Administrator/Trustee Authorized Signature(s) Authorized Plan Administrator/Trustee Signature Date Plan Administrator forward to Service Provider at: Xxxx County 0000 Xxxxxxx Xxx, 0xx Xxxxx Xxxxxxxxxxx, XX 00000-0000 Phone #: 0-000-000-0000 Fax #: 0-000-000-0000 Web site: xxx.xxxx000.xxx ][XXXX][/202161113
Salary Deferral Agreement. 6. If this Paragraph 6 is completed, the Employee is electing to defer more than $17,000 in 2012 because he or she is eligible for the "special 457 catch-up" that is available during the last three years before Normal Retirement Age. The Employee hereby elects, or has previously elected, age as his or her Normal Retirement Age. The Employee will attain such Normal Retirement Age in 2013, 2014 or 2015. Once the Employee elects to defer an additional amount using this Paragraph 6, the Employee cannot change his or her Normal Retirement Age. Employee signature Date Employer acceptance: Xxxxx Xxxxxxxxx, Senior Manager, Benefits & HR Date
Salary Deferral Agreement. Both the Employer and the Employee acknowledge and understand that the Employee has total responsibility for deciding whether to defer income and for instructing to whom the Employer is to provide the deferred income for investment purposes. The Employee may only contribute amounts that have not already been paid or made available. The Employee agrees and acknowledges that contributions shall not exceed the Internal Revenue Code deferral limit. This Agreement is legally binding and irrevocable for both the Employer and the Employee with respect to amounts paid while this Agreement is in effect and while employment continues. The Employee may terminate or otherwise modify this agreement at any time by giving written notice so that this agreement will not apply to salary subsequently paid. Employee’s Signature Date Authorized Signature for Employer Date
Salary Deferral Agreement. 1. This agreement is submitted to the University of Alaska, hereinafter “Employer,” on (date) by , hereinafter “Employee.” Employee elects to contribute $ per pay period, to a calendar year goal of $ Total of all deferrals under this Agreement may not, in 2018, exceed the $18,500 IRC limit unless Employee is age 50 or older and applying the Age 50+ catch-up of $6,000. Alternatively, Employee can elect the Special Catch-Up Limit of up to an additional $18,500 in one of the last three years of employment prior to normal retirement age.
Salary Deferral Agreement. Mo Day Year ❑ Female ❑ Male ❑ Married ❑ Unmarried Date of Birth This Agreement shall apply to all compensation paid from the effective date specified, until cancelled, superceded, or the employee ceases to be an eligible employee. This Agreement supercedes all previous agreements. I understand that I may change the percentage of compensation or dollar amount contributed to the Plan only when and as allowed under the terms of the Plan. I also understand that it is my responsibility to comply with the Internal Revenue Code deferral limits. Payroll Information Specify one of the following: ❑ New Enrollment ❑ Restart ❑ Increase Payroll Deduction ❑ Decrease Payroll Deduction ❑ Stop Deductions Specify the following: ❑ I elect to contribute $ (per pay period) of my compensation as before-tax contributions to the Governmental 457(b) Deferred Compensation Plan until such time as I revoke or amend my election. Payroll Effective Date: Date of Hire: Mo Day Year Mo Day Year Deferral agreements must be entered into prior to the first day of the month that the deferral will be made. Payroll Center Name Payroll Center Number Multiple Recordkeepers Specify recordkeeper name(s) and dollar amount you wish to allocate per pay period. RECORDKEEPER NAME: $ PER PAY PERIOD:
Salary Deferral Agreement. The Custodian may accept contributions from the Employer/Payor on behalf of a Employee/Participant made pursuant to a Salary Deferral Agreement. A Employee/Participant shall designate the amount or percentage of such Employee/Participant's compensation which is to be deferred in the Salary Deferral Agreement. Such amount or percentage shall be effective until otherwise modified in writing by the Employee/Participant. A Employee/Participant may amend or terminate his or her Salary Deferral Agreement at such times as may be permitted by the Employer/Payor, however the Employee/Participant may not change his or her election more than once per tax year.
Salary Deferral Agreement. (a) In general (b) Governing rules
Salary Deferral Agreement this section is effective for Plan Years beginning after December 31, 2001
