Examples of 401(k) Matching Contribution in a sentence
If the Participant has not contributed the maximum applicable dollar amount in effect under Code §402(g) for the Plan Year, the Participant’s Company 401(k) Matching Contribution Amount under this Plan for the Plan Year is zero (0).
For each payroll period during Plan Years beginning on or after October 1, 2007, the Plan Administrator will allocate so much of the total 401(k) Matching Contributions for the payroll period as of a date or the dates determined by the Plan Administrator, but no later than the last day of the Plan year to the 401(k) Matching Contribution Account of each Participant as will equal 25% of the Participant’s Salary Reduction Contributions for the payroll period.
The Company 401(k) NEC Contribution and Company 401(k) Matching Contribution to the Plan on behalf of a Participant who is a Continuing Sporting Employee, if any, for the Plan Year that includes the Transfer Date shall be calculated by taking into account the Participant’s Recognized Compensation paid by both ATK and the Company, the contributions made on behalf of the Participant to both the 401(k) Plan and the Alliant Techsystems Inc.
Each Excess 401(k) Matching Contribution shall equal the amount of a Participant’s elective deferral to the Plan for a payroll period, provided that if the amount of the Participant’s elective deferral for a payroll period exceeds 3% of the Participant’s Compensation earned during that payroll period, the contribution shall equal 3% of the Participant’s Compensation for that payroll period.
In any event, a Participant may not obtain a loan from amounts allocated to his or her 401(k) Matching Contribution Account, ESOP Matching Contribution Account, and Retirement Contribution Account.- 66 -(d) Written Applications.