Qualified Matching Contributions definition

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 Matching Contributions means any Participating Employer Contributions to this Plan on behalf of Eligible Employees, provided that amounts attributable to such contributions are not distributable merely on account of the Employee’s hardship and are immediately vested.

Qualified Matching Contributions means Matching Contributions which are one hundred percent (100%) vested and nonforfeitable at all times and which are distributable only in accordance with the distribution provisions applicable to Elective Deferrals.

Examples of Qualified Matching Contributions in a sentence

• The distribution events applicable to the Participant's Deferral Contributions Account, Qualified Nonelective Contributions Account and Qualified Matching Contributions Account must satisfy the distribution restrictions described in paragraph (m) of Section 14.03.

• The Employer must specify in its Adoption Agreement whether the Advisory Committee will allocate matching contributions to the Qualified Matching Contributions Account or to the Regular Matching Contributions Account of each Participant.

• The Employer shall maintain records sufficient to demonstrate satisfaction of the ACP Test and the amount of Qualified Nonelective Contributions or Qualified Matching Contributions, or both, used in such test.

• A hardship distribution option may not apply to the Participant's Qualified Nonelective Contributions Account or Qualified Matching Contributions Account, except as provided in paragraph (3).

• Under such rules as the Secretary of the Treasury shall prescribe, the Employer may elect to include Qualified Nonelective Contributions and Qualified Matching Contributions under this Plan in computing the Deferral Percentage.

More Definitions of Qualified Matching Contributions

Qualified Matching Contributions means Employer contributions to the Plan which are allocated to Participants' accounts by reason of Elective Deferrals, which are at all times subject to the distribution and nonforfeitability requirements of section 401(k) of the Code.

Qualified Matching Contributions are matching contributions which are 100% Nonforfeitable at all times and which are subject to the distribution restrictions described in paragraph (m). Matching contributions are not 100% Nonforfeitable at all times if the Employee has a 100% Nonforfeitable interest because of his Years of Service taken into account under a vesting schedule. Any matching contributions allocated to a Participant's Qualified Matching Contributions Account under the Plan automatically satisfy the definition of qualified matching contributions.

Qualified Matching Contributions means amounts contributed to the Qualified Plan by the Company or its Subsidiaries which are determined with reference to amounts of Qualified Salary Deferrals.

Qualified Matching Contributions means Matching Contributions which are subject to the distribution and nonforfeitability requirements under Section 401(k) of the Code when made.

Qualified Matching Contributions means any Employer Matching Contributions to this Plan on behalf of Eligible Employees, and any matching contributions (as defined in Section 401(m)(4)(A) of the Code) by the Employer to any other plan or plans on behalf of Eligible Employees, which are nonforfeitable (fully vested) when made and which are subject to the distribution restrictions of Section 401(k)(2)(B) of the Code, provided that amounts attributable to such contributions are not distributable solely on account of the Employee's hardship. A Qualified Matching Contribution is not treated as forfeitable merely because under the Plan it is forfeited when the contribution to which it relates is treated as an Excess Elective Deferral, Excess Contribution or Excess Aggregate Contribution.

Qualified Matching Contributions. Matching Contributions which, pursuant to the election made by the Employer, and in accordance with Code Section 401(m), are nonforfeitable when made and subject to the limitation on distribution set forth in the definition of Qualified Nonelective Contributions.

Qualified Matching Contributions means Matching Contributions that are nonforfeitable when made to the Plan and that are distributable only in accordance with the distribution provisions (other than for hardships) applicable to Pre-Tax Contributions.