Contribution Formula definition

Contribution Formula means as defined in Section 3.2.
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Contribution Formula. For each Plan Year the Employer will contribute for each qualifying Participant an amount equal to ______% (not to exceed 25%) of the qualifying Participant's Compensation for the Plan Year. #726(12/90) 1▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇., ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ EMPLOYER SIGNATURE Important: Please read before signing I am an authorized representative of the Employer named above and I state the following: 1. I acknowledge that I have relied upon my own advisors regarding the completion of this Adoption Agreement and the legal and tax implications of adopting this Plan. 2. I understand that my failure to properly complete this Adoption Agreement may result in disqualification of the Plan. 3. I understand that the Prototype Sponsor will inform me of any amendments made to the Plan and will notify me should it discontinue or abandon the Plan.
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Contribution Formula. If the Employer will make Matching Contributions, then the amount of such Matching Contributions made on behalf of a Qualifying Contributing Participant each Plan Year shall be (CHOOSE ONE): OPTION 1: [ ] An amount equal to % of such Contributing ---- Participant's Elective Deferral (and/or Nondeductible Employee Contribution, if applicable). OPTION 2: [ ] An amount equal to the sum of % of the ----- portion of such Contributing Participant's Elective Deferral (and/or Nondeductible Employee Contribution, if applicable) which does not exceed % of the Contributing ---- Participant's Compensation plus % of the ---- portion of such Contributing Participant's Elective Deferral (and/or Nondeductible Employee Contribution, if applicable) which exceeds % of the Contributing ----- Participant's Compensation. OPTION 3: [X] Such amount, if any, equal to that percentage of each Contributing Participant's Elective Deferral (and/or Nondeductible Employee Contribution, if applicable) which the Employer, in its sole discretion, determines from year to year. OPTION 4: [ ] Other Formula. (SPECIFY) ----------------- NOTE: IF OPTION 4 IS SELECTED, THE FORMULA SPECIFIED CAN ONLY ALLOW MATCHING CONTRIBUTIONS TO BE MADE WITH RESPECT TO A CONTRIBUTING PARTICIPANT'S ELECTIVE DEFERRALS (AND/OR NONDEDUCTIBLE EMPLOYEE CONTRIBUTION, IF APPLICABLE).
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Examples of Contribution Formula in a sentence

  • Select the Matching Contribution Formula, Computation Period and special Limitations for each contribution type from the options listed below.

  • In the event that an Excess Contribution is recharacterized as a Catch-up Contribution, any Matching Contribution made thereon may remain in the Plan if the Matching Contribution Formula is not otherwise exceeded.

  • The information which may be contained in the Summary Plan Description, as well as the notice, is the Safe Harbor Contribution Formula, including a description of the levels of Matching Contributions, if any, how to make Salary Deferral elections, including any administrative requirements that apply to such elections, and the periods available under the Plan for making deferral elections.

  • Contribution Formula For each Plan Year the Employer will contribute an amount to be determined from year to year.

  • Basic Matching Contribution Formula: Matching Contributions will be made on behalf of Participants in an amount equal to 100% of the amount of the Eligible Participant’s Elective Deferrals that do not exceed 3% of the Participant’s Compensation and 50% of the amount of the Participant’s Elective Deferrals that exceed 3% of the Participant’s Compensation but that do not exceed 5% of the Participant’s Compensation.

  • Type of Contribution Matching Contribution (Formula 1) Matching Computation Period Limitations Matching Contribution (Formula 2) Matching Computation Period Limitations If the Matching Contribution formula selected by the Employer is 100% vested and may not be distributed to the Participant before the earlier of the date the Participant has a severance from employment, retires, becomes disabled, attains 59½, or dies, it may be treated as a Qualified Matching Contribution.

  • Highly Compensated Employees are Excluded Employees for purposes of receiving an Employer Contribution under the ▇▇▇▇▇-▇▇▇▇▇ Contribution Formula.

  • Contribution Formula - The Employer's Non-Elective contribution to the Plan shall be: (Select one) ( ) a.

  • Contribution Formula: For each Plan Year the Employer will contribute an Amount to be determined from year to year.

  • In applying the ▇▇▇▇▇-▇▇▇▇▇ Contribution Formula under this subsection (1), the following default rules will apply.

Related to Contribution Formula

  • Matching Contribution means an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of an Employee Contribution made by such Participant, or on account of a Participant's Elective Deferral, under a plan maintained by the Employer.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee’s account under any plan of an Employer or a Related Company solely on account of “elective contributions” made on his behalf or “employee contributions” made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Qualified Matching Contributions means any Participating Employer Contributions to this Plan on behalf of Eligible Employees, provided that amounts attributable to such contributions are not distributable merely on account of the Employee’s hardship and are immediately vested.

  • Contribution Period means the period specified in Article VI for which Employer Contributions shall be made.

  • Matching Contributions means local cash and/or in-kind contributions made by the Subrecipient, subcontractor, or other local resources that qualify as match for the Contract funding.