Section 3401(a) wages definition
Section 3401(a) wages. Wages as defined in Section 3401(a) of the Code for the purposes of income tax withholding at the source but determined without regard to any rules that limit the remuneration included in wages based on the nature or location of the employment or the services performed (such as the exception for agricultural labor in Section 3401(a)(2) of the Code) but including employee elective salary reduction or similar deferral contributions excluded from W-2 compensation by reason of Section 125, 132(f)(4), 402(g)(3) or 457(b) of the Code (and elective deferrals or contributions under any other sections of the Code covered by Section 415(c)(3)(D) of the Code).
Section 3401(a) wages means wages within the meaning of Section 3401(a) of the Code for the purposes of income tax withholding at the source but determined without regard to any rules that limit the remuneration included in wages based on the nature or location of the employment or the services performed. "415 safe harbor Compensation" is defined under Section 3.05(E)(2) of the Plan. Unless otherwise selected in the Adoption Agreement, Compensation also includes any amount which is contributed by the Employer under a salary reduction agreement and which is not includable in the Employee's gross income under Sections 125, 402(e)(3), 402(h)(1)(B) or 403(b) of the Code. Compensation only includes amounts actually paid to the Participant during the Plan Year (or any other determination period selected in the Adoption Agreement). This Plan does not count any Participant's annual Compensation above $200,000, as adjusted for increases in the cost-of-living by the federal government under Section 401(a)(17) of the Code for any Plan Year (above $150,000 for Plan Years beginning after 1993, as so adjusted), subject to any "grandfather" rules that may be permitted under applicable law, which are incorporated in this definition by reference). The cost-of-living adjustment in effect for a calendar year applies to any Plan Year (or determination period) beginning in that calendar year.
Section 3401(a) wages means wages within the meaning of Section 3401(a) of the Code for the purposes of income tax withholding at the source but determined without regard to any rules that limit the remuneration included in wages based on the nature or location of the employment or the services performed. "415 Compensation" is defined under Section 3.05(E)(7) of the Plan. For any Self-Employed Individual, Compensation will mean Earned Income. Unless otherwise selected in the Adoption Agreement, Compensation also includes any amount which is (1) contributed by the Employer under a salary reduction agreement and which is not includable in the Employee's gross income under Section 125, 132(f)(4), 402(e)(3), 402(h)(1)(B) or 403(b) of the Code, (2) compensation deferred under a plan described in Section 457(b) of the Code, or (3) treated as an employer contribution under Section 414(h)(2) of the Code. Further, unless otherwise indicated in the Adoption Agreement, Compensation shall be reduced by each of the following items: reimbursements or other expense allowances, fringe benefits (cash and non-cash), moving expenses, deferred compensation and welfare benefits. Compensation is determined for the Plan Year, or for any other 12-consecutive month period selected in the Adoption Agreement (the Plan Year or such other period for which Compensation is determined, as applicable, is referred to below in this Section 1.09 as the "Determination Period"). Compensation includes, for any Determination Period, only amounts actually paid to the Employee during such period. For each Determination Period, the amount of Compensation taken into account under the Plan for any Participant shall not exceed $150,000, as adjusted for increases in the cost-of-living in accordance with Section 401(a)(17) of the Code ($200,000 for Determination Periods beginning before 1994, as so adjusted), subject to any "grandfather" rules that may be permitted under applicable law, which are incorporated in this definition by reference. The cost-of-living adjustment in effect for a calendar year applies to any Determination Period beginning in that calendar year. If a Determination Period consists of fewer than 12 months, the Compensation limit for that Determination Period is the dollar amount described in the preceding paragraph, multiplied by a fraction, the numerator of which is the number of months in that Determination Period and the denominator of which is 12. Unless otherwise indicated in the Adoption Agreement,...
Examples of Section 3401(a) wages in a sentence
For purposes of this Article VII, Compensation means all of a Participant's Section 3121 wages, Section 3401(a) wages or Section 415 safe-harbor compensation (as such terms are defined in Section 2.06), whichever is elected by the Employer in Section 2.06 of the Adoption Agreement.
Compensation, as elected by the Employer in the Adoption Agreement, shall mean all of each Participant's a) Wages, tips, and other compensation box on Form W-2 b) Section 3401(a) wages or c) 415 safe-harbor compensation.
More Definitions of Section 3401(a) wages
Section 3401(a) wages means wages within the meaning of Code Section 3401(a) for the purposes of income tax withholding at the source but determined without regard to any rules that limit the remuneration included in wages based on the nature or location of the employment or the services performed (such as the exception for agricultural labor in Code Section 3401(a)(2)).