Defined Contribution Plan definition

Defined Contribution Plan. A retirement plan which provides for an individual account for each participant and for benefits based solely on the amount contributed to the participant's account, and any income, expenses, gains and losses, and any forfeitures of accounts of other participants which the plan may allocate to such participant's account. The Advisory Committee must treat all defined contribution plans (whether or not terminated) maintained by the Employer as a single plan. Solely for purposes of the limitations of Part 2 of this Article III, the Advisory Committee will treat employee contributions made to a defined benefit plan maintained by the Employer as a separate defined contribution plan. The Advisory Committee also will treat as a defined contribution plan an individual medical account (as defined in Code Section 415(l)(2)) included as part of a defined benefit plan maintained by the Employer and, for taxable years ending after December 31, 1985, a welfare benefit fund under Code Section 419(e) maintained by the Employer to the extent there are post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code Section 419A(d)(3)).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Defined Contribution Plan means a retirement program that provides for an individual account for each participant and for benefits based solely upon the amount contributed to the participant's account, and any income, expenses, gains, and losses credited or charged to the account, and any forfeitures of accounts of other participants that may be allocated to the participant's account.

Defined Contribution Plan has the meaning ascribed to such term in Section 3(34) of ERISA.

Examples of Defined Contribution Plan in a sentence

• All Dispatchers hired on or after June 20, 2017 will be entered into the VMERS Defined Benefits Plan C at the time of hire and will have the option to enroll in the VMERS Defined Contribution Plan in an election process administrator by VMERS.

• If the employee contributes 2% of base wage into the Defined Contribution Plan, the Employer will contribute 2% of base wage into a 457 Plan.

• Employees will be required to make a mandatory minimum contribution of 1.0% (pre-tax) of their earnings but may contribute up to 12.0% of their annual earnings in the Defined Contribution Plan.

• During the term of this Agreement, employees are not obligated to make contributions to the Defined Contribution Plan in order to participate.

• If an employee contributes 1% of base wage into the Defined Contribution Plan, the Employer will contribute 1% of base wage into a 457 Plan.

More Definitions of Defined Contribution Plan

Defined Contribution Plan means a retirement plan that provides for an individual retirement account for each participant and the benefits of which are based solely on the amount contributed to the participant's account and that includes any income, expenses, gains, losses, or forfeitures of accounts of other participants that may be allocated to the participant's account.

Defined Contribution Plan means the Adventist Retirement Plan.

Defined Contribution Plan means the component of a

Defined Contribution Plan means a plan described in Section 414(i) of the Code.

Defined Contribution Plan means (i) a Retirement Plan which provides for an individual account for each participant therein and for benefits based solely on the amount contributed to the participant’s account, and any income, expenses, gains and losses, and any forfeitures of accounts of other participants which may be allocated to such participant’s account and (ii) mandatory and/or voluntary employee contributions to a defined benefit plan to the extent of such employee contributions.

Defined Contribution Plan means an individual account plan as defined in ss.3(34) of ERISA.

Defined Contribution Plan means the public safety personnel