Member Deferrals definition

Member Deferrals means deferrals of Basic Compensation and/or Bonus Compensation made by a Member pursuant to a Member Deferral Election.
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Examples of Member Deferrals in a sentence

  • This contribution shall be made no later than 30 days following the date on which the related Member Deferrals are made, or as soon as administratively practicable, if later, and except for Members who have attained age 55, shall be made under the ESOP Part of the Plan.

  • A Member may complete one Distribution Election Form at the time of the Member's initial Deferral hereunder electing a date or dates on which any Member Deferrals will be distributed or begin to be distributed to the Member other than the Member's termination of employment.

  • Any Eligible Employee shall be eligible to become a Member of the Plan for any Plan Year by electing to make Member Deferrals pursuant to Section 3.1(a).

  • Notwithstanding the foregoing, with respect to an Eligible Employee who first becomes a Member on other than an Entry Date, any such Member Deferrals pursuant to Section 3.1(a)(1) shall apply only for the portion of such Plan Year commencing with the date he first becomes a Member and ending on the last day of such Plan Year.

  • Pay: The total of all amounts paid by the Company to or for the benefit of a Member for services rendered or labor performed, which are required to be reported on such Member's federal income tax withholding statement(s) (Form W-2 or its subsequent equivalent), plus any amounts such Member could have received in cash in lieu of Member Deferrals pursuant to Section 3.1.

  • For each payroll period, the Company shall defer on a Member's behalf an amount which equals 100% of the Member Deferrals made pursuant to Section 3.1(a)(1) and (2) by such Member during such payroll period.

  • For each payroll period, the Company shall defer on a Member’s behalf an amount which equals a percentage of the Member Deferrals elected by such Member during such payroll period: (A) with respect to all payroll periods ending prior to May 25, 2020, the Company will match 100% of the Member’s Deferral for that payroll period; and (B) with respect to all payroll periods beginning on or after May 25, 2020, the Company will match 50% of the Member’s Deferral for that payroll period.

  • Notwithstanding any provision herein to the contrary, an Eligible Employee who has become a Member of the Plan shall cease to be entitled to make Member Deferrals hereunder or receive Company Deferrals hereunder effective as of any date designated by the Plan Administrator.

  • Member Deferrals made by a Member shall be credited to such Member's General Account as of a date determined in accordance with procedures established from time to time by the Plan Administrator; provided, however, that such Member Deferrals shall be credited to the Member's General Account no later than 30 days after the date upon which the Pay deferred would have been received by such Member in cash if he had not elected to defer such amount pursuant to this Section 3.1.

  • This contribution shall be made no later than 30 days following the date on which the related Member Deferrals are made, or as soon as administratively practicable, if later.

Related to Member 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.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Deferrals means the amount of the Director’s Compensation that the Director elects to defer according to this Agreement.

  • 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.

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

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Employer Contributions means all amounts paid into ASRS by an

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Matching Contribution means an Employer contribution made to this or any other Defined Contribution Plan on behalf of a Participant on account of an Employee Contribution made by such Participant, or on account of a Participant's Employee Elective Deferral, under a plan maintained by the Employer.

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Participant Contributions means contributions made by the Participant pursuant to an executed Pay Reduction Agreement subject to the Participant Contribution limits contained in Article III.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Member contributions means all amounts paid to ASRS by a member.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Deferred member means a person who elected to receive deferred vested retirement

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Plan Year means the calendar year.

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

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.