Examples of Employment Year in a sentence
The maximum amount of deferred income a Participant may defer during the Employment Year shall not exceed the lesser of the applicable dollar amount as set forth in section 457(e)(15) of the Code; or 100 percent of the Participant’s Includable Compensation; or as otherwise provided by law.
During each Employment Year, an existing Participant Agreement may be amended to effect subsequent deferrals in accordance with the provisions of the Plan and the rules established by the Council.
During each Employment Year in which the Employee defers Compensation, the Employer shall not pay the Employee full Compensation as is specified by the Employee in the Participant Agreement which has been executed and filed with the Employer.
Compensation shall be deferred in amounts of not less than ten dollars ($10) or one percent (1%) of Gross Compensation each pay period of the Employee’s Employment Year.