Salary Reduction Election. I hereby authorize my Employer to reduce my compensation (as defined in the 457(b) plan (the Plan)) by % or $ and to apply such amount each pay period toward the purchase of the funding vehicle(s) offered by an authorized provider under the Plan. If I am a current employee, I understand that this election applies only to compensation paid or made available no earlier than the first day of the calendar month after the calendar month in which this Agreement is signed. If I am a newly hired employee and the Plan so permits, I understand that this election applies to compensation payable in the calendar month in which I first become an employee if I enter into this Agreement with my Employer on or before the first day in which I perform services for the Employer. I further understand that this Agreement is irrevocable with respect to compensation paid and shall supersede any prior Agreement between my Employer and me under the Plan. Pre-Tax Deferral % or $ (per pay period) Xxxx 457(b) Contribution* % or $ (per pay period) Special 457 Pre-Tax Deferral Catch Up* % or $ (per pay period) Special 457 Xxxx Catch-up* % or $ (per pay period) Pre-Tax Age 50+ Catch Up* % or $ (per pay period) Xxxx Age 50+ Catch Up* % or $ (per pay period) *Xxxx Contributions, Special 457 Catch Up and Age 50+ Catch Up are available only if permitted under the Plan document. • If an employee elects the Special 457 Catch Up, he must be within three years prior to the year in which he will reach Normal Retirement Age (as defined in the Plan) and have not previously contributed up to the maximum amount permitted in those prior years. Contact a local Voya FinancialTM representative for more information. • If an employee is eligible for both the Special 457 Service Catch Up and the Age 50+ Catch Up in the same tax year, he cannot use both Catch Ups in the same tax year. IRS rules provide that such a Participant can use the Catch Up that allows him to contribute the greater amount in that tax year. Contact your local Voya representative for additional information. I direct my Employer to remit 457 contributions pursuant to this Agreement to the following provider approved under the Plan: I understand that it is my responsibility to establish an account with my selected provider by completing the required enrollment forms prior to submitting this request. PLEASE COmPLETE ThIS fORm AND RETURN IT TO YOUR EmPLOYER. KEEP A COPY fOR YOUR RECORDS. Note that it may take several payroll cy...
Salary Reduction Election. An eligible employee may make an election to have his or her compensation for each pay period reduced. The total amount of the reduction in the employee’s compensation for a calendar year cannot exceed the applicable amount for that year.
Salary Reduction Election. Subject to the requirements of the SIMPLE IRA Plan of the above-named employer, I authorize the percentage OR dollar amount listed below to be withheld from my pay each pay period and contributed to my SIMPLE IRA as a salary reduction contribution. Insert percentage. OR Percentage . % Insert single- sum amount which equals this Amount
Salary Reduction Election. Subject to the requirements of the SIMPLE plan of ___________________ (name of employer) I authorize __________% or $____________ (which equals ________% of my current rate of pay) to be withheld from my pay for each pay period and contributed to my SIMPLE IRA as a salary reduction contribution.
Salary Reduction Election. 1. RA Contract Complete Sections A and B You may elect to contribute a higher percentage than indicated in the chart below. If you choose to do this, the maximum contribution from the College is 5%, inclusive of the non-elective and matching contributions. Indicate your election(s) in A below
Salary Reduction Election. Each Eligible Employee may make a salary reduction election to have his or her Compensation reduced for the Year in any amount selected by the Eligible Employee. The Employer will make a salary reduction contribution to the Plan, as an Elective Deferral, in the amount by which the Eligible Employee’s Compensation has been reduced. The limitation on salary reduction contributions is $7,000 for 2002 and increasing by $1,000 for each Year thereafter up to $10,000 for 2005 and later Years. After 2005, the $10,000 limit will be adjusted (but only in $500 increments) by the Secretary of the Treasury for cost-of-living increases under Code §408(p)(2)(E). Beginning in 2002, the amount of an Eligible Employee’s salary reduction contributions permitted for a Year is increased for Eligible Employees aged 50 or over by the end of the Year by the amount of allowable Catch-Up Contributions. The Catch-Up Contribution Limit in a SIMPLE 401(k) Plan is $500 for 2002, increasing by $500 for each Year thereafter up to $2,500 for 2006. After 2006, the Catch-Up Contribution Limit of $2,500 will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code §414(v)(2)(C). Any such adjustments will be in multiples of $500. Catch-Up Contributions are otherwise treated the same as other salary reduction contributions.
Salary Reduction Election. 104550 Supplemental Retirement Plan (Matching Plan) (if applicable) □ Participant must contribute 3% or more to be eligible for Troy’s matching funds. Employees eligible for Xxxx University matching program will receive a match of 3% on a maximum of $18,000.00 of salary ($540.00 annual maximum [$45.00 monthly for a 12 month employee; $54.00 monthly for a 10 month employee]).
Salary Reduction Election. I wish to make salary reduction contributions to the 403(b) Plan as follows: Enter an amount that does not exceed the lesser of (1) 100% of your compensation OR (2) the annual elective deferral limit in effect for the current year plus any additional “catch up” contributions. This election supercedes any previous election made. Fixed-Dollar ($) Method - Reduced from base compensation paid for each payroll period. 403(b) TSA (before tax) $ + 403(b) XXX Xxxx (after tax) $ = Total SRA Amount $ Percentage (%) Method - Reduced from base compensation paid for each payroll period. 403(b) TSA (before tax) % + 403(b) XXX Xxxx (after tax) % = Total SRA Amount % The salary reduction amount indicated above will only be processed if there is sufficient salary to cover the deferral request.
Salary Reduction Election. Each Participant may elect to receive his or her full Compensation for any Plan Year in cash or have his or her Compensation reduced and applied toward the cost of benefits available to the Participant under one or more Benefit Option(s). Such amounts are considered Elective Contributions under the terms of this Plan. Each Participant may elect to make Elective Contributions by enrolling in the Plan pursuant to Section 3.02. The amount of Elective Contributions will be the dollar amount of the Participant’s Compensation that equals the amount necessary to pay the required contribution for each Benefit Option in which the Employee has elected to participate for the Plan Year. The Participant’s Compensation for the Plan Year will be reduced by the amount of his or her Elective Contributions in equal amounts each payroll period. A salary reduction agreement to make Elective Contributions will be effective as described below:
Salary Reduction Election. Tax Deferred Annuity Plan ☐✔ Additional Contributions: I want to make a pre-tax contribution, into the Roanoke College Tax Deferred Annuity Plan. The amount of my contributions each pay period will be: Select one: $ OR % of base compensation For employees age 50 and over, this amount will include any additional catch up contribution permitted under IRC 414(v). Contact TIAA-CREF to calculate your maximum contribution under the IRC Section. (000) 000-0000 Employee Signature Date Print, sign, and return to: Roanoke College, Office of Human Resources, College Hall. For questions, contact Human Resources at 375-2442. For Human Resources use only: Paycycle ☐ Biweekly ☐ Monthly Accepted by:
