Automatic enrollment definition

Automatic enrollment means a plan provision under which the employee will have a specified contribution made to a plan described in subsection (1) equal to a compensation reduction that will be made for the employee unless the employee affirmatively elects no compensation reduction contributions or a compensation reduction contribution in another amount.

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Automatic enrollment means an employee retirement plan provision under which an employee will have a specified contribution made to the plan, equal to a compensation reduction, that will be made for the employee unless the employee affirmatively elects, in accordance with the federal "Pension Protection Act of 2006", Pub.L. 109-280, either not to have any compensation reduction contributions or a compensation reduction contribution in an alternative amount.

Automatic enrollment means an employee retirement plan provision under which an employee will have a specified contribution made to the plan, equal to a compensation reduction, that will be made for

Examples of Automatic enrollment in a sentence

• Nothing in this Warrant expressed and nothing that may be implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the Holders of the Warrants any right, remedy, or claim under or by reason of this Warrant or of any covenant, condition, stipulation, promise, or agreement hereof.

• Automatic enrollment will be implemented as soon as administratively feasible.

• Automatic enrollment, as described in Section 2.4 of the Base Plan Document, shall/ shall not apply.

• Automatic enrollment will be implemented as soon as administratively feasible upon agreement by all locals.

• Automatic enrollment contributions made after such date remain in the Plan and are subject to the Plan's regular distribution rules.

• Automatic enrollment will not take effect until 35 days after date of hire, rehire or transfer to provide an opt out period for the employee.

• Automatic enrollment will be implemented as soon as administratively feasible upon ratification.

• Automatic enrollment payroll deductions will equal the percentage of pay eligible for company match (8% of pay).

• Automatic enrollment beginning January 1, 2016 for union employees who have not elected to participate and who are eligible for Company Retirement Contributions (CRCs) o Enrolled at 2% of pay as pre‐tax employee contributions o Advance notice with information about opting out will be provided to all affected employees • A one‐time $300 Additional Company Retirement Contribution (ACRC) will be paid in January 2016 to members’ account for employees who were hired after January 1, 2012.

• Automatic enrollment will increase to 6% of qualified earnings at ratification.

More Definitions of Automatic enrollment

Automatic enrollment means an employee retirement plan provision under which an employee will have a specified contribution made to the plan, equal to a compensation reduction, that will be made for the employee unless the employee affirmatively elects, in accordance with the federal “Pension Protection

Automatic enrollment means enrollment under Article II, section 1(B) of the Port Gamble S’Klallam Constitution. Applications for automatic enrollment are approved by the Tribal Council.

Automatic enrollment means an employee retirement plan provision under which an employee will