Tax Contributions definition
Examples of Tax Contributions in a sentence
The Board resolution shall provide for the percentage and/or amount of Before Tax Contributions and/or After Tax Contributions to be matched and the maximum percentage and/or amount of Before Tax Contributions and/or After Tax Contributions eligible for matching.
Notwithstanding anything in the Adoption Agreement to the contrary, amounts in a Participant's account attributable to Before Tax Contributions, Qualified Nonelective Contributions, and Qualified Matching Contributions shall be 100% vested and nonforfeitable at all time.
Participants shall be entitled to enter into a Salary Reduction Agreement providing for Before Tax Contributions to be made to the Plan.
This feature allows Plan Sponsors to automatically enroll eligible Clergy at a rate of Before- Tax Contributions chosen by the Plan Sponsor.
Notwithstanding any other provision of the Plan, Excess Before Tax Contributions, plus any income and minus any loss allocable thereto, shall be distributed no later than April 15 to any Participant to whose account Excess Before Tax Contributions were assigned for the preceding year and who claims Excess Before Tax Contributions for such taxable year.
Any Participant who terminates After Tax Contributions may elect to recommence making After Tax Contributions as of the date selected by the Employer in Item C(3) of the Adoption Agreement following his or her suspension of contributions.
Separate accounts for Before Tax Contributions and After Tax Contributions will be maintained for each Participant.
A Participant may terminate his or her election to make After Tax Contributions at any time as of the Participant's next wage payment date upon written notice to the Committee.
If a Participant makes Before Tax Contributions to this Plan and to another Plan, and the Participant has made Excess Before Tax Contributions to one or more of the plans, the Participant may assign the amount of any such Excess Before Tax Contributions among the plans under which such Before Tax Contributions were made.
If the Employer selects Item C(4)(b) in the Adoption Agreement, any discretionary Matching Contributions shall be allocated as of the allocation date specified in Item C(4)(c)(ii) of the Adoption Agreement, to the Employer Matching Account of each Participant who has made Before Tax Contributions and/or After Tax Contributions eligible for matching.