SIP Refund Deferral Election definition

SIP Refund Deferral Election means an agreement between a Participant and the Company under which the Participant agrees to a deferral of his Compensation in an amount equal to the amount of the refund in a given Plan Year from the SIP as a result of the SIP’s nondiscrimination requirements of the Participant’s pre-tax contributions and associated Company matching contributions for a prior Plan Year and related earnings.
Sample 1Sample 2Sample 3

Examples of SIP Refund Deferral Election in a sentence

  • Each Plan Year, a Participant may execute a SIP Refund Deferral Election.

  • The amount of a Participant’s Compensation deferred under this Plan by a SIP Refund Deferral Election shall be credited to the Participant’s Account in equal installments over the remaining payroll periods in the Plan Year after the date the SIP Refund Deferral Election is made and processed by the Committee.

  • Any SIP Refund Deferral Election shall be made prior to the commencement of the Plan Year in which the Compensation that is the subject of the SIP Refund Deferral Election will be earned.

  • To participate in the Plan, an Eligible Employee shall defer Compensation earned during a Plan Year by making a Deferral Election in the manner set forth in Section 3.1 or a SIP Refund Deferral Election in the manner set forth in Section 3.3.

  • Notwithstanding the foregoing, an individual who first becomes an Eligible Employee subsequent to the first day of any Plan Year may make a SIP Refund Deferral Election, applicable to the period from the Eligible Employee’s initial entry date to the end of the Plan Year, provided the SIP Refund Deferral Election is made within 30 days of becoming an Eligible Employee and prior to the performance of services by a Participant for the period covered by the election.

  • Executive Savings Investment Plan with respect to Participants listed on Appendix C hereto shall transfer to, be recognized as a Deferral Election or SIP Refund Deferral Election, as applicable, by, and remain in effect for the year or the applicable period to which it relates under this Plan.

  • A SIP Refund Deferral Election is irrevocable for purposes of this Plan upon the beginning of the Plan Year (or the period otherwise described below in this Section 3.3) to which it applies.

  • In line with the safety format of the lateral-torsional buckling code provisions for cold design, an alternative proposal for rolled sections or equivalent welded sections subjected to fire is presented in this paper, that addresses the issue of the influence of the loading type on the resistance of the beam, achieving better agreement with the real behaviour while maintaining safety.

Related to SIP Refund Deferral Election

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Deferral Election Form means each form established from time to time by the Administrator that the Executive completes, signs and returns to the Administrator to designate the amount of Deferrals.

  • 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.

  • Distribution Election Form means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate the time and form of distribution.

  • Distribution Election With respect to any Series, as specified in the related Supplement.

  • Deferral Year means each calendar year during which the Trustee makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

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

  • 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

  • Election Form means the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to make an election under the Plan.

  • 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.

  • Plan Year means the calendar year.

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

  • Election cycle means the period beginning on the first day persons are eligible to

  • 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.

  • Payment Election means an election pursuant to Section 5.1.

  • Election Year means a year in which ordinary elections for local governments are required to be held;

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

  • 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.

  • Plan Year(s means the approximate twelve-month periods between annual meetings of the shareholders of the Company, which, for purposes of the Plan, are the periods for which annual retainers are earned.

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

  • 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).

  • Investment Election means the Participant’s election to have deferred amounts credited with hypothetical earnings credits (or losses) that track the investment performance of the Investment Options and/or Common Stock in accordance with Article V.

  • 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.

  • Special election means an election held as authorized by Section 20A-1-203.

  • Deferral Period has the meaning set forth in Section 3(h) hereof.

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.