Elective Contribution definition

Elective Contribution means the Employer contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess "annual additions" pursuant to Section 4.10(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.1(c) and Section 4.6(b) which is used to satisfy the "Actual Deferral Percentage" tests shall be considered an Elective Contribution for purposes of the Plan. Any contributions deemed to be Elective Contributions (whether or not used to satisfy the "Actual Deferral Percentage" tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the nondiscrimination requirements of Regulation 1.401(k)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

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Elective Contribution shall refer to the Director's voluntary monthly pre-tax deferral of board fees, committee fees and/or retainer plus interest compounded annually at a rate equal to the Interest Factor. The Director may elect to change his voluntary deferral amount by submitting to the Bank a Notice of Adjustment of Elective Contribution thirty (30) days prior to the end of any Plan Year.

Elective Contribution means the Company's contributions to the Plan of Deferred Compensation, excluding any such amounts distributed as excess "annual additions" pursuant to Section 4.3. In addition, any Company Qualified Non-Elective Contribution made pursuant to Section 3.1(a)(4) and Section 3.5 and which is so designated by the Company shall be considered an Elective Contribution for purposes of the Plan. Such Qualified Non-Elective Contributions deemed to be Elective Contributions shall be subject to the requirements of Sections 3.3(b) and 3.3(c), and shall be required to satisfy the discrimination requirements of Code Section 401(k)(3), the provisions of which are specifically incorporated herein by reference.

Examples of Elective Contribution in a sentence

• The amount by which Compensation is reduced shall be that Participant's Deferred Compensation and be treated as an Employer Elective Contribution and allocated to that Participant's Elective Account.

• The frequency with which a 403(b) Plan Employee Elective Contribution Agreement may be entered into or amended, the compensation as to which such agreement applies, and the ability to revoke such agreement shall be determined under the federal income tax rules applicable to qualified cash or deferred arrangements.

• The maximum amount of reimbursement for each Participant shall be limited to the amount of the Participant's Elective Contribution allocated to the program during the Plan Year, not to exceed the maximum amount set forth in Item F(7) of the Adoption Agreement.

• The Elective Contribution Account shall be payable in monthly installments throughout the Payout Period.

• The Elective Contribution must also relate to compensation that either would have been received by the Participant in the Plan Year but for the Participant's election to defer under the Plan, or is attributable to services performed by the Participant in the Plan Year and, but for the Participant's election to defer, would have been received by the Participant within two and one-half (2 1/2) months after the close of the Plan Year.

More Definitions of Elective Contribution

Elective Contribution means the Employer's contributions to the Plan that are made pursuant to the Participant's deferral election pursuant to Section 4.2. In addition, if selected in E3 of the Adoption Agreement, the Employer's matching contribution made pursuant to Section 4.1(b) shall be considered an Elective Contribution for purposes of the Plan. Elective Contributions shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the discrimination requirements of Regulation 1.401(k)-1(b)(3), the provisions of which are specifically incorporated herein by reference.

Elective Contribution means the amount allocated to specific Taxable Benefits and/or Nontaxable Benefits at the election of a Participant equal to a reduction in his Eligible Earnings pursuant to Section 5.28.240 B.

Elective Contribution means a contribution to the 1987 scheme for which a member has elected under section 22, regardless of whether the contribution is payable by the member or as part of the member’s remuneration;

Elective Contribution means the Employer's contributions to the Plan that are made pursuant to the Participant's deferral election pursuant to Section 11.2, excluding any such amounts distributed as "excess annual additions" pursuant to Section 4.4. In addition, if selected in E3 of the Adoption Agreement, the Employer's matching contribution shall or shall not be considered an Elective Contribution for purposes of the Plan, as provided in Section 11.1(b). Elective Contributions shall be subject to the requirements of Sections 11.2(b) and 11.2(c) and shall further be required to satisfy the discrimination requirements of Regulation 1.401(k)-1(b)(3), the provisions of which are specifically incorporated herein by reference.

Elective Contribution. A contribution to a cash or deferred profit sharing plan by the Employer on behalf of an electing Employee.

Elective Contribution means the contributions to the Plan that are made pursuant to the Participant's deferral election provided in Section 4.2.

Elective Contribution shall refer to any bookkeeping entry required to record a Director’s voluntary monthly pre-tax deferral which shall be made in accordance with the Director’s Joinder Agreement.