Examples of Employee After-Tax Contributions in a sentence
If a Participant has a separate account attributable to Employee After-Tax Contributions to the Plan, the Participant may elect at any time to receive a distribution of all or any portion of the amount held in the account.
Each Employee shall be eligible to receive Employer Matching Contributions based on his or her Employee Elective Deferrals or Employee After-Tax Contributions beginning on the first day of the month (if employed on that date) coinciding with orimmediately following the later of (i) the date the Employee completes one Year of Service or (ii) the date the Employee attains age 21.
Each Employee shall be eligible to participate in the Plan and elect to have (i) Employee After-Tax Contributions or (ii) Employee Elective Deferrals made on his or her behalf hereunder immediately upon becoming employed by the Employer.
Notwithstanding the foregoing or any provision of this Plan to the contrary, for each Plan Year, the Employee After-Tax Contributions and Employer Matching Contributions must satisfy the average contribution percentage (“ACP”) test set forth in Section 401(m)(2) of the Code and the Income Tax Regulations issued thereunder.