Currently Taxed Contributions definition

Currently Taxed Contributions means contributions by a Member pursuant to Section 2.3.
Sample 1

Examples of Currently Taxed Contributions in a sentence

  • Currently Taxed Contributions shall be paid to the Trust as soon as practicable following the end of the payroll period for which such contributions are deducted.

  • An Eligible Employee may, subject to Section 3.3 and Article 12, contribute, through regular payroll deduction Currently Taxed Contributions of one (1) to fifty (50) percent of his Compensation earned in a payroll period, expressed in whole multiples of one percent (1%) as he shall specify (provided that such percentage, when added to the percentage of his Compensation being credited to his Tax Deferred Contribution Account pursuant to Article 3, shall not exceed fifty percent (50%).

  • Amounts may not be recharacterized by a Highly Compensated Employee to the extent that such amount, in combination with other Currently Taxed Contributions made by such Employee, would exceed the limitations under the Plan with respect to Currently Taxed Contributions.

  • The Committee may, to the extent permitted under Treasury Regulation Section 1.401(k)-2(b)(3), recharacterize as Currently Taxed Contributions for such Savings Plan Year all or a portion of the Tax Deferred Contributions for Members who are Highly Compensated Employees to the extent necessary to comply with the applicable limit set forth in this Section 3.1. Recharacterized amounts will remain nonforfeitable and subject to the same distribution requirements as Tax Deferred Contributions.

  • This is the whole object of the etheric envelope’s function- ing, and is a point which cannot be sufficiently emphasized.

  • Income on excess Currently Taxed Contributions and Matching Contributions for the Plan Year in which such excess occurs shall be determined in the manner provided for Section 5.4.

  • Any differences arising from this procedure have been recognised in other comprehensive income and accumulated separately in the exchange reserve in equity.2.20 Foreign currency translation (Continued)When a foreign operation is sold or closed, all of the accumulated exchange differences in respect of that operation attributable to the Group are reclassified from equity to profit or loss as part of the gain or loss.

  • An Eligible Employee may arrange to contribute by filing with the Committee, on forms provided by it, an application to contribute containing (a) an authorization for payroll deduction of Currently Taxed Contributions, (b) an authorization for payroll reduction for Tax Deferred Contributions made on his behalf, and/or (c) a request to make a Rollover Contribution to the Plan, and such information as the Committee may require.

  • In the event it is determined prior to any payroll period that the amount of Currently Taxed Contributions and Matching Contributions to be made thereafter are likely to cause the limitation prescribed in this Section 3.5 to be exceeded, the amount of such contributions allowed to be made by Members who are Highly Compensated Employees (and/or such other Members as the Committee may prescribe) shall be reduced to a rate determined by the Committee (including a rate of 0% if the Committee so determines).

Related to Currently Taxed Contributions

  • Accumulated contributions means the sum of all

  • After-Tax Contributions means amounts withheld from an Employee's Compensation pursuant to a Salary Reduction Agreement after all applicable state and federal taxes have been deducted. Such amounts are withheld for purposes of purchasing one or more of the Benefit Package Options available under the Plan.

  • Pre-Tax Contributions means, for any Participant, the aggregate of the Participant's Basic Pre-Tax Contributions and Supplemental Pre-Tax Contributions contributed to the applicable Pre-Tax Contribution Account.

  • Catch-Up Contributions means Salary Reduction Contributions made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are Age 50 or over by the end of their taxable years. An “otherwise applicable Plan limit” is a limit in the Plan that applies to Salary Reduction Contributions without regard to Catch-up Contributions, such as the limits on Annual Additions, the dollar limitation on Salary Reduction Contributions under Code Section 402(g) (not counting Catch-up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500.

  • In-kind contributions means services and goods as approved by the department that are provided by a grant recipient toward completion of a department-approved local snowmobile program under section 82107.

  • Company Contributions means the contributions made by the Company pursuant to Section 3.3.

  • Cash contributions means the re- cipient’s cash outlay, including the outlay of money contributed to the re- cipient by third parties.

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Member contributions means all amounts paid to ASRS by a member.

  • Delayed contribution payment means an amount paid by an employee for purchase of current service. The amount shall be determined using the same formula in KRS 61.5525, and the payment shall not be picked up by the employer. A delayed contribution payment shall be deposited to the member's account and considered as accumulated contributions of the individual member. In determining payments under this subsection, the formula found in this subsection shall prevail over the one found in KRS 212.434;

  • Contributions means the payroll deductions and other additional payments specifically provided for in the Offering that a Participant contributes to fund the exercise of a Purchase Right. A Participant may make additional payments into his or her account if specifically provided for in the Offering, and then only if the Participant has not already had the maximum permitted amount withheld during the Offering through payroll deductions.

  • Additional contributions means contributions made by a member of a defined benefit plan to

  • Precontribution Gain has the meaning set forth in subparagraph 4(c) of Exhibit B.

  • Employee Contributions are contributions made by a Participant on an after-tax basis, whether voluntary or mandatory, and designated, at the time of contribution, as an employee (or nondeductible) contribution. Elective deferrals and deferral contributions are not employee contributions. Participant nondeductible contributions, made pursuant to Section 4.01 of the Plan, are employee contributions.

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Qualified Nonelective Contributions means contributions of the Plan Sponsor or an Affiliate, other than Matching Contributions or Elective Deferrals, which are nonforfeitable when made, and which would be nonforfeitable regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Code Section 401(k)(2)(B) and the regulations thereunder.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Matching Contributions means contributions made by the Employer on account of an "eligible Participant's" Elective Deferrals.

  • Contribution Date has the meaning set forth in Section 4.3 hereof.

  • Regular contributions means the amounts required to be

  • Excluded Contributions means the Cash Equivalents or other assets (valued at their Fair Market Value as determined in good faith by senior management or the Board of Directors of the Issuer) received by the Issuer after the Issue Date from:

  • Voluntary Contributions means voluntary amounts contributed by a member or participating member into a health reimbursement account. However, to the extent required by applicable law, voluntary amounts shall not be contributed through a salary reduction election under a cafeteria plan pursuant to section 125 of the internal revenue code, 26 USC 125.

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Employer Contributions means all amounts paid into ASRS by an

  • Contribution Period means a period in respect of which contributions appropriate to the benefit in question are payable, have been paid or treated as paid under the legislation in question;

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.