Section 401(k) Contributions Clause Samples
The Section 401(k) Contributions clause outlines the rules and procedures for employee participation in an employer-sponsored 401(k) retirement savings plan. It typically specifies eligibility requirements, contribution limits, and the process for making pre-tax payroll deductions into the plan. This clause ensures that both employees and employers understand how retirement contributions are handled, promoting compliance with tax laws and providing a clear framework for saving for retirement.
Section 401(k) Contributions. Subject to the terms and conditions of this Article V, any Participant may, at any time and from time to time, elect to have contributed to the Trust Fund out of his Flexible Compensation, specified in multiples of one percent (1%), an amount which shall be designated a Section 401(k) Contribution and shall constitute a contribution to the Trust Fund by the Company on behalf of the Participant under the provisions of Section 401(k) of the Code.
Section 401(k) Contributions. The Section 401(k) contributions by Employer for Employee’s account for 2006 shall become fully vested upon termination of employment, other than a voluntary termination by Employee prior to the Scheduled Termination Date.
Section 401(k) Contributions