LIMITATIONS ON CONTRIBUTIONS definition

LIMITATIONS ON CONTRIBUTIONS. Notwithstanding any other provisions of this Plan, all contributions for the Plan Years commencing after December 31, 1986, shall be subject to the following limitations: (a) The total amount of a Participant's Elective Deferrals during any calendar year shall not exceed seven thousand dollars ($7,000), which amount shall be indexed at the same time and in the same manner as the dollar limitation for defined benefit plans in Code Section 415(b)(1) (A). For this purpose, a Participant's Elective Deferrals to this Plan plus the Participant's elective deferrals pursuant to any other Code Section 401(k) arrangement, elective deferrals under a simplified employee pension plan and salary reduction contributions to a tax-sheltered annuity, irrespective of whether the Employer or any member of a Controlled Group or Affiliated Service Group to which the Employer belongs maintains the arrangement, plan or annuity, shall be aggregated.
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LIMITATIONS ON CONTRIBUTIONS. Notwithstanding any other provisions of this Plan, ALL contributions FOR PLAN YEARS COMMENCING AFTER DECEMBER 31, 1986, shall be subject to the following limitations: (a) THE TOTAL AMOUNT OF A PARTICIPANT'S ELECTIVE DEFERRALS DURING ANY CALENDAR YEAR SHALL NOT EXCEED SEVEN THOUSAND DOLLARS ($7,000), WHICH AMOUNT SHALL BE INDEXED AT THE SAME TIME AND IN THE SAME MANNER AS THE DOLLAR LIMITATION FOR DEFINED BENEFIT PLANS IN CODE Section 415(B)(1)(A). FOR THIS PURPOSE A PARTICIPANT'S ELECTIVE DEFERRALS TO THIS PLAN PLUS THE PARTICIPANT'S ELECTIVE DEFERRALS PURSUANT TO ANY OTHER CODE Section 401(K) ARRANGEMENT, ELECTIVE DEFERRALS UNDER A SIMPLIFIED EMPLOYEE PENSION PLAN AND SALARY REDUCTION CONTRIBUTIONS TO A TAX-SHELTERED ANNUITY, IRRESPECTIVE OF WHETHER THE EMPLOYER OR ANY MEMBER OF A CONTROLLED GROUP OR AFFILIATED SERVICE GROUP TO WHICH THE EMPLOYER BELONGS MAINTAINS THE ARRANGEMENT, PLAN OR ANNUITY, SHALL BE AGGREGATED.
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LIMITATIONS ON CONTRIBUTIONS. The Administrator shall have the responsibility for monitoring the Fremont Plan's compliance with the limitations of Section 401(a) of the Code. The Administrator shall maintain such records as are necessary to demonstrate the Fremont Plan's compliance with Section 401(a) of the Code, and shall have discretionary power to take any and all steps it deems necessary or appropriate to ensure such compliance, including but not limited to, restricting the amount of Salary Reduction Contributions by any Fremont Plan Participant.
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Examples of LIMITATIONS ON CONTRIBUTIONS in a sentence

  • LIMITATIONS ON CONTRIBUTIONS AND ALLOCATIONS..............................................................14 6.1. Ordering Rule..................................................................................14 6.2. Code ss.

  • A-1 APPENDIX A LIMITATIONS ON CONTRIBUTIONS...................................................................

  • VIII 8.01 53 LIMITATIONS ON CONTRIBUTIONS AND BENEFITS IX 9.04 56 Article Section Page LOANS Assets .................................................

  • VIII 8.01 53 LIMITATIONS ON CONTRIBUTIONS AND BENEFITS IX 9.04 56 Article Section Page LOANS Assets...................................................

  • Other Limitations of Liability 30 ARTICLE XI PROVISIONS DESIGNED TO COMPLY WITH LIMITATIONS ON CONTRIBUTIONS AND OTHER ADDITIONS 30 Section 11.01.

Related to LIMITATIONS ON CONTRIBUTIONS

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

  • 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.

  • Matching Contributions means local cash and/or in-kind contributions made by the Subrecipient, subcontractor, or other local resources that qualify as match for the Contract funding.

  • Company Matching Contributions means the Company contributions described in Section 3.4.