401(k) Plan Year definition
Examples of 401(k) Plan Year in a sentence
For those employed on the last day of the 401(k) Plan Year, a 100% match of the first 3% of the employee’s contribution, plus 50% of the next 2% of the employee’s contribution.
The Plan Administrator must provide a notice to each Participant a reasonable period of time before the 60th day prior to the beginning of each SIMPLE 401(k) Plan Year, describing the Participant's Elective Deferral rights and the Employer's SIMPLE Contributions which the Employer will make for the Plan Year described in the notice.
The Plan Administrator must provide notice to each Participant a reasonable period of time before the 60th day prior to the beginning of each SIMPLE 401(k) Plan Year, describing the Participant's deferral election rights and the Employer's matching or nonelective contributions which the Employer will make for the Plan Year described in the notice.
For each 401(k) Plan Year, the University shall contribute 6% of an employee’s eligible wages under the plan as an employer retirement contribution for each eligible employee who is at least 21 years of age.
The Plan Administrator must provide notice to each Participant a reasonable period of time before the 60th day prior to the beginning of each SIMPLE 401(k) Plan Year, describing the Participant’s deferral election rights and the Employer’s matching or nonelective contributions which the Employer will make for the Plan Year described in the notice.
BIW will make contributions on your behalf no later than October 15 following the close of the calendar year, with the first contribution being made in 2024 for the 2023 401(k) Plan Year.
For those employed on the last day of the 401(k) Plan Year, a 100% match of the first 3% of the employee's Deferrals, plus 50% of the next 2% of the employee's Deferrals.