LIMITATIONS ON ELECTIVE definition

LIMITATIONS ON ELECTIVE. DEFERRALS A Participant's Elective Deferrals may be limited to the extent necessary to satisfy the maximum contribution limitations under Code Section 415(c)(1)(A) if the Employer maintains any other SEP or any qualified plan to which contributions are made for such Plan Year. 6.2 OVERALL LIMITATIONS ON CONTRIBUTIONS In addition to the dollar limitation of Code Section 415(c)(1)(A) ($30,000 in 1991), contributions to this Plan, when aggregated with contributions to all other SEPs and contributions plus forfeitures under other qualified defined contribution plans of the Employer, generally may not exceed 25% of Compensation for any Employee. If these limits are exceeded on behalf of any Employee for a particular Plan Year, that Employee's Elective Deferrals for that year must be reduced to the extent of the excess. 6.3
Sample 1Sample 2Sample 3

Examples of LIMITATIONS ON ELECTIVE in a sentence

  • Excess Before-Tax Contributions shall be distributed from the Participant’s Qualified Non-elective Contribution Account only to the extent that such Excess Before-Tax Contributions exceed the balance in the Participant’s Before-Tax Account and Qualified Matching Contribution Account.Section II.03 DOLLAR LIMITATIONS ON ELECTIVE DEFERRALS.A. Definitions.

  • EXCLUSIONS AND LIMITATIONS ON ELECTIVE PROCEDURES:The mission of MDRH includes providing financial assistance to the MDRH community for MDRH services.

  • LIMITATIONS ON ELECTIVE DEFERRAL AMOUNTS 1186.01 Basic Annual Limitation… 1186.02 Special Catch-up Limitation for Employees With 15 Years of Service 1286.03 Age 50 Catch-up Elective Deferral Contributions 1286.04 Coordination 1286.05 Special Rule for a Participant Covered by Another Section 403(b) Plan 1386.06 Correction of Excess Elective Deferrals 1386.07 Protection of Persons Who Serve in a Uniformed Service 13ARTICLE 97.

  • The identity is of importance for authorization.For carrying identities in EAP-IKEv2, implementations MUST follow the rules given in [Kau04], section 3.5, i.e., MUST be configurable to send at least one of ID_IPV4_ADDR, ID_FQDN, ID_RFC822_ADDR, or ID_KEY_ID, and MUST be configurable to accept all of these types.Implementations SHOULD be capable of generating and accepting all of these types.

  • LIMITATIONS ON ELECTIVE DEFERRAL AMOUNTS 6.018.01 Basic Annual Limitation.

Related to LIMITATIONS ON ELECTIVE

  • Exceptions and Limitations means fair use, fair dealing, and/or any other exception or limitation to Copyright and Similar Rights that applies to Your use of the Licensed Material.

  • Safe Harbor has the meaning set forth in Section 10.2(d).

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Eligibility and selection criteria means criteria for determining:

  • Optional Deferral Provision means, as to any Qualifying Capital Securities, a provision in the terms thereof or of the related transaction agreements to the effect that:

  • former provisions means the provisions of the Petroleum Act 1936 which, by force of section 134 of the Petroleum Act are deemed to subsist and enure in their application to or in relation to the Xxxxxx Island Lease;

  • Early Opt-in Election means the occurrence of:

  • General Provisions means those portions of the Subscription Agreement headed “General Provisions” and contained on pages 7 to 12;

  • Joint and Survivor Annuity means an immediate annuity for the life of a Participant with a survivor annuity for the life of the Participant's Spouse which is not less than fifty percent (50%), nor more than one hundred percent (100%) of the amount of the annuity payable during the joint lives of the Participant and the Participant's Spouse which can be purchased with the Participant's Vested interest in the Plan reduced by any outstanding loan balances pursuant to Section 7.4.

  • Supplemental Provisions means these Supplemental Provisions for Federally Funded Contracts, Grants, and Purchase Orders subject to the Federal Funding Accountability and Transparency Act of 2006, As Amended, as may be revised pursuant to ongoing guidance from the relevant Federal or State of Colorado agency or institution of higher education.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of a Participant, with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% of the amount of the annuity which is payable during the joint lives of the Participant and the spouse, and which is the amount of benefit that can be purchased with the Participant's Vested Account Balance. The percentage of the survivor annuity under the Plan shall be 50%.

  • Qualified Non-Elective Contribution means any Employer contributions made pursuant to Section 4.1(c) and Section 4.6(b) and Section 4.8(f). Such contributions shall be considered an Elective Contribution for the purposes of the Plan and may be used to satisfy the "Actual Deferral Percentage" tests or the "Actual Contribution Percentage" tests.

  • Adoption Agreement means the written agreement pursuant to which the Employer adopts the Plan. The Adoption Agreement is a part of the Plan as applied to the Employer.

  • REIT Provisions of the Code means Sections 856 through 860 of the Code and any successor or other provisions of the Code relating to real estate investment trusts (including provisions as to the attribution of ownership of beneficial interests therein) and the regulations promulgated thereunder.

  • Termination for Convenience means the termination of the Trade Contract Agreement or the Trade Contractor Work by the Authority without cause and for the convenience of the Authority as decided in its sole discretion.

  • Form of Agreement means the form of agreement contained in Part D of the RFP;

  • Rollover means the renewal of all or any part of any LIBOR Rate Loan upon the expiration of the Interest Period with respect thereto, pursuant to Section 2.3.

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

  • Other Definitional Provisions set forth in Section 1.2 of the Basic Servicing Agreement are incorporated by reference into this 2017-3 Servicing Supplement.

  • Limitation of Liability Insert the following Section 15, after Section 14:

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Salary Reduction Agreement means an agreement between a dis- trict and an employee to reduce the employee’s salary for the pur- pose of making direct contributions to or purchases of a qualified investment product. Art. 6228a-5, Sec. 4(5), Tex. Rev. Civ. Stat.

  • Matching Contributions means contributions made by the Employer on account of an "eligible Participant's" Elective Deferrals.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Elective Contribution means the Employer's 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 4.6 shall be considered an Elective Contribution for purposes of the Plan. Any such contributions deemed to be 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)(5), the provisions of which are specifically incorporated herein by reference.