Salary Deferral Contributions. The Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which its Participants’ Considered Compensation was reduced on a pre-tax basis pursuant to salary deferral agreements (excluding amounts of Considered Compensation deferred pursuant to Section 3.02 that are properly characterized as Catch-up Salary Deferral Contributions). Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the Participant. Any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Participant of the amount required to be contributed to the Trust. A salary deferral agreement can only be made with respect to an amount that is not currently available to the Participant on the date of the agreement. Further, a salary deferral agreement can only be made with respect to amounts that would (but for the agreement) become currently available after the later of the date on which the Employer adopts the Plan or the date on which such adoption of the Plan is effective. A Salary Deferral Contribution for a Participant may not be made earlier than the date on which the Participant’s salary deferral agreement is made. A Participant’s Salary Deferral Contribution must be made after the Participant’s performance of services with respect to which the Salary Deferral Contribution is made, or when the cash would be currently available to the Participant, if earlier. A Participant’s or former Participant’s right to benefits derived from Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. The maximum amount a Participant may elect to reduce his Considered Compensation under his salary deferral agreement shall be determined by the Committee, in its sole discretion from time to time. In addition, the election to have Salary Deferral Contributions made, the ability to change the rate of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time. A Participant will be permitted to make (or change) a Salary Deferral Contribution elect...
Salary Deferral Contributions. The Employer shall make a Salary Deferral Contribution in an amount equal to the amount by which its Members' Considered Compensation was reduced as a result of salary deferral agreements. Any such salary deferral agreement shall be an agreement in a form satisfactory to the Committee to prospectively receive Considered Compensation from the Employer in a reduced amount and to have the Employer contribute an amount equal to the amount of the reduction to the Trust on account of the Member. Further, any such salary deferral agreement shall be revocable in accordance with its terms, provided that no revocation shall be retroactive or permit payment to the Member of the amount required to be contributed to the Trust. A Member's right to benefits derived from Salary Deferral Contributions made to the Plan on his behalf shall be nonforfeitable. The maximum amount a Member may elect to reduce his Considered Compensation under his salary deferral agreement shall be determined by the Committee, in its sole discretion from time to time. In addition, the election to have Salary Deferral Contributions made, the ability to change the rate of Salary Deferral Contributions, the right to suspend Salary Deferral Contributions, and the manner of commencing new Salary Deferral Contributions shall be permitted under any uniform method determined by the Committee from time to time.
Salary Deferral Contributions. Salary Deferral Contributions shall be allocated to the Salary Deferral Account of each Participant as of each Valuation Date.
Salary Deferral Contributions. Contributions made pursuant to an individual retirement annuity program in accordance with the requirements of Section 408(b) of the Code and applicable Treasury regulations;
Salary Deferral Contributions. Contributions to an Employer Plan made by a Participant pursuant to a cash or deferred election (normally in accordance with the terms of a qualified cash or deferred arrangement under Section 401(k) of the Code).
Salary Deferral Contributions. Contributions made to the Plan during the Plan Year by the Employer, at the election of the Participant, in lieu of cash compensation, including contributions made pursuant to a salary reduction agreement.
Salary Deferral Contributions. Each Participant may elect to enter into a written salary deferral agreement with the Employer to defer payment of a portion of his or her Compensation. The Employer shall pay the amount designated to be deferred in the salary deferral agreement to the Trustee on the Participant's behalf to be credited to the Participant's Salary Deferral Account. The amount of Compensation which the Participant may elect to defer shall be expressed as a percentage of the Participant's Compensation and shall not exceed the percentage set forth in the Adoption Agreement For all purposes under this Plan other than the application of the vesting schedule for Employer contributions, the amount deferred by the Participant shall be deemed to be a contribution made by the Employer. The salary deferral agreement shall be in such form as provided by the Employer and shall apply to each payroll period after the salary deferral agreement has been completed by the Participant and submitted to the Employer. The salary deferral agreement may be amended or terminated for future payroll periods at such times and in such manner as permitted under nondiscriminatory rules and procedures established by the Employer.
Salary Deferral Contributions. Salary Deferral Contributions, as defined in Section 5.01(a) of Article V, made pursuant to a written salary deferral agreement with a Participant shall be allocated and credited to such Participant's Salary Deferral Account as of the date contributed to the Trust.
Salary Deferral Contributions. Upon becoming a Participant, an Eligible Employee may elect to reduce his or her Pay by an amount that does not exceed the Contribution Dollar Limit, within the limits described in Section 3.5, and have such amount contributed to the Plan by the Employer as an Employee Pre-Tax Contribution, a Xxxx Contribution (as defined in Section 3.9), or both (together, “Salary Deferral Contributions”). Such election shall be expressed as a whole percentage (or as whole percentages) of the Participant’s total Pay, and shall be made in such manner and with such advance notice as prescribed by the Administrator. A Participant’s Salary Deferral Contribution election shall be effective with the first administratively reasonable payroll paid after the date such notice is received and acknowledged by the Administrative Committee in the Human Resources Department of the Company. Effective January 1, 2019, each Participant who fails to affirmatively elect to reduce his or her Pay as a Salary Deferral Contribution (including a Contribution Percentage election of zero percent (0%)) shall be deemed to have elected an Employee Pre-Tax Contribution of one percent (1%), to be invested in accordance with Section 7.2 or 7.5, as applicable. As of the first pay date following each Participant’s Entry Date, such Participant (including a rehired Participant) who fails to affirmatively elect to reduce his or her Pay as a Salary Deferral Contribution (including a Contribution Percentage election of zero percent (0%)) shall be deemed to have elected an Employee Pre-Tax Contribution election of one percent (1%), to be invested in accordance with Section 7.2 or 7.5, as applicable. Effective January 1, 2020, each Participant who is deemed to have elected to make an Employee Pre-Tax Contribution pursuant to this Section, or who has affirmatively elected to make a Salary Deferral Contribution of less than six percent (6%), shall have his or her Contribution Percentage increased by one percent (1%), to be invested in accordance with Section 7.2 or 7.5, as applicable, as of the first pay date following January 1 of the second Plan Year beginning after his or her deemed or affirmative Salary Deferral Contribution election applies. Each such Participant’s Contribution Percentage shall continue to be increased annually, with the first pay date following each January 1, until the Contribution Percentage reaches six percent (6%); provided, however, that a Participant’s Contribution Percentage will not b...
Salary Deferral Contributions. Participant elections to defer Compensation shall be made in either (a) increments of 1% which shall not be less than 1% nor greater than _15__% (not greater than 15) or (b) a specific dollar amount which shall not exceed the percentage contribution specified in (a). The deferral amount is to be allocated to the Participant's Account under the Plan as a Section 401(k) Contribution.
