Salary Reduction Election definition

Salary Reduction Election means the authorization to the Employer by the Eligible Employee to reduce his or her pay by an amount on a before-tax basis for selected Plan benefits.

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Salary Reduction Election means an election by a Participant to reduce his or her Gross Compensation by a fixed dollar amount or percentage of Gross Compensation and have such amount contributed to the Plan as Pre-Tax Contributions, Roth Contributions, or a combination of both.

Salary Reduction Election means an agreement between you and the University pursuant to which you agree to reduce your Gross Compensation by an amount elected by you and the University agrees to contribute such amounts as Employee Contributions to the Plan. For further information regarding Salary Reduction Elections, see the Employee Contributions Section.

Examples of Salary Reduction Election in a sentence

A Participant may revoke his election to have his Com pensation reduced at any time but shall not thereafter be entitled to make any subsequent election to again reduce his Compensation until the next succeeding Salary Reduction Election Period.
All elections to modify a Salary Reduction Election must be made prior to the first day of the pay period for which such modification shall be effective.
This Agreement shall be effective beginning with the salary warrant payable as specified in your 403(b) Salary Reduction Election, in accordance with State Controller’s Office (SCO) processing guidelines.
The CSU shall reduce each regular monthly installment of salary due you, the Employee, under the terms of your appointment by the amount you request, beginning with the salary warrant as indicated in your 403(b) Salary Reduction Election, if the request is submitted to the campus Benefits Representative in a timely manner.
A Participant may modify his Salary Reduction Amount only during a subsequent Salary Reduction Election Period or during such other periods as the Sponsoring Company, in ac cordance with a uniform and non-discriminatory policy, may specify from time to time.
The term "Salary Reduction Election Period" means each thirty (30) day period ending on each May 1st or December 1st subsequent to the Effective Date.

More Definitions of Salary Reduction Election

Salary Reduction Election means an election by you to reduce your Compensation by an amount elected by you which Dartmouth will contribute as Employee Contributions to the SRA. For further information regarding Salary Reduction Elections, see the Employee Contributions Section.

Salary Reduction Election means the means by which an eligible Employee or Participant elects to contribute his share of the cost of chosen Benefit Options with Pre-tax or After-tax Contributions and/or Flex Credits (if offered under the Plan) in accordance with Article III herein. A Salary Reduction Election includes any election change form by which an eligible Employee or Participant makes permitted changes to his or her original elections. If the Employer utilizes an interactive voice response (IVR) system or other, alternative web-based program or electronic medium for enrollment that requires a unique login or other form of personal identification number to serve as an electronic signature, the Salary Reduction Election may be completed using this medium. Elections made and directions received using such an alternative medium are enforceable as if such elections were made or directions provided in writing and signed by the Employee or Participant and may be maintained by or on behalf of the Plan Administrator on an electronic database in accordance with the SPD and all applicable federal and/or state laws.

Salary Reduction Election means an agreement between a Participant and the Company, under which the Participant agrees to a reduction in his Compensation.

Salary Reduction Election means the written election of a Participant authorizing the Employer to make tax deferred contributions on his behalf pursuant to Section 4.1(a).

Salary Reduction Election means an election by a Participant to reduce his or her

Salary Reduction Election means an election by a Participant to reduce his or her (i) Base Salary by a fixed percentage as set forth in Article IV and have such amounts contributed to the Employee Contribution Program as Employee Pre-Tax Contributions or (ii) Gross Compensation by a fixed percentage (or, if so permitted by the Plan Administrator, a flat dollar amount) and have such amounts contributed to the Employee Contribution Program as Employee Pre-Tax Contributions, Employee Roth Contributions, or a combination of both.