Pre-Tax Salary Deferrals definition

Pre-Tax Salary Deferrals means Salary Deferrals which are not includable in a Participant’s gross income at the time deferred. A Participant’s Salary Deferrals shall be maintained in a separate Account containing only the Participant’s Salary Deferrals and gains and losses attributable to those Salary Deferrals.
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Pre-Tax Salary Deferrals means amounts that a Participant elects to defer by payroll withholding from current Earnings on a pre-tax basis under a Participation Agreement, which amounts are contributed to the Plan by the Company and allocated to such Participant’s Pre-Tax Salary Deferral Contribution Account as described in Section 3.01.
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Examples of Pre-Tax Salary Deferrals in a sentence

  • Unless designated otherwise by the Participant, any Salary Deferrals made pursuant to an automatic deferral election will be treated as Pre-Tax Salary Deferrals.

  • Several types of contributions are available in your Plan: Pre-Tax Salary Deferrals.

  • For this purpose, all Salary Deferrals (both Pre-Tax Salary Deferrals and Roth Deferrals) are aggregated in applying the Elective Deferral Dollar Limit.

  • The Panhellenic Association at the University of South Florida prohibits the use of council funds for the purchase of alcohol.

  • Any Salary Deferrals made pursuant to an automatic deferral election will be treated as Pre-Tax Salary Deferrals, unless designated otherwise under this subsection (iii).

  • I REALIZE THAT WITHIN THIRTY DAYS PRIOR TO THE TRANSFER DATE, I MUST UNDERGO THE FDA MANDATED TESTS TO CONFIRM THAT I CONTINUE TO TEST NEGATIVE FOR A NUMBER OF STDS AS WELL AS FOR HIV.

  • Section 1.57 (as redesignated herein) is amended in its entirety to read as follows: 1.57 “Salary Deferrals” means Pre-Tax Salary Deferrals or Designated Roth Salary Deferrals.

  • The tax treatment of amounts deferred shall be irrevocable:Pre-Tax Salary Deferrals may not be reclassified as Designated Roth Salary Deferrals, and Designated Roth Salary Deferrals may not be reclassified as Pre-Tax Salary Deferrals.

  • Example: Suppose in 2022 you earn compensation of $45,000 (after reduction for Pre-Tax Salary Deferrals of $5,000).

  • A Participant may increase or decrease the amount of his or her Salary Deferrals (subject to the limits set forth in Paragraph (a) above) or change the designation of future Salary Deferrals fromPre-Tax Salary Deferrals to Designated Roth Salary Deferrals (or from Designated Roth Salary Deferrals to Pre-Tax Salary Deferrals) at any time.

Related to Pre-Tax Salary Deferrals

  • 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.

  • 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.

  • 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.

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

  • 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

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

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

  • 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.

  • Pre-Tax Contributions means, for any Participant, the aggregate of the Participant's Basic Pre-Tax Contributions and Supplemental Pre-Tax Contributions contributed to the applicable Pre-Tax Contribution Account.

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

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

  • 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.

  • Employer Contributions means all amounts paid into ASRS by an

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • 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.

  • 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.

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

  • 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.

  • Employee Contributions are contributions made by a Participant on an after-tax basis, whether voluntary or mandatory, and designated, at the time of contribution, as an employee (or nondeductible) contribution. Elective deferrals and deferral contributions are not employee contributions. Participant nondeductible contributions, made pursuant to Section 4.01 of the Plan, are employee contributions.

  • Non-Highly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • 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).

  • Plan Year means the calendar year.

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

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

  • Deferral Amount means the sum of all of a Participant's Annual Deferral Amounts.