SIMPLE 401(k) Matching Contribution Formula. For each Plan Year, the Employer shall contribute and allocate to each Eligible Employee’s account an amount equal to the Employee’s Elective Deferral contribution up to a limit of 3% of the Employee’s Compensation for the full Plan Year. If the Employer elects in the Adoption Agreement to make the Non-Elective Contribution as specified in paragraph 3.3(b) below, this Matching Contribution will not be made.
Appears in 9 contracts
Samples: Prototype Defined Contribution Plan, Prototype Defined Contribution Plan, Prototype Defined Contribution Plan (1st Constitution Bancorp)
SIMPLE 401(k) Matching Contribution Formula. For each Plan Year, the Employer shall contribute and allocate to each Eligible Employee’s account an amount equal to the Employee’s Elective Deferral contribution up to a limit of 3% of the Employee’s Compensation for the full Plan Year. If the Employer elects in the Adoption Agreement to make the Non-Elective Contribution as specified in paragraph 3.3(b3.2(b) below, this Matching Contribution will not be made.
Appears in 5 contracts
Samples: Prototype Defined Contribution Plan (FNB United Corp.), Nonstandardized Adoption Agreement (Chicopee Bancorp, Inc.), Prototype Defined Contribution Plan (United Community Bancorp)
SIMPLE 401(k) Matching Contribution Formula. For each Plan Year, the Employer shall contribute and allocate to each Eligible Employee’s 's account an amount equal to the Employee’s 's Elective Deferral contribution up to a limit of 3% of the Employee’s 's Compensation for the full Plan Year. If the Employer elects in the Adoption Agreement to make the Non-Elective Contribution as specified in paragraph 3.3(b3.2(b) below, this Matching Contribution will not be made.
Appears in 1 contract
Samples: Nonstandardized Adoption Agreement (Banctrust Financial Group Inc)
