Taxable Wage Base definition

Taxable Wage Base means the contribution and benefit base in effect under Section 230 of the Social Security Act at the beginning of the Plan Year.

Taxable Wage Base means, with respect to any Plan Year, the contribution and benefit base under Section 230 of the Social Security Act at the beginning of such Plan Year.

Taxable Wage Base means, with respect to any year, the maximum amount of earnings which may be considered wages for such year under Code Section 3121(a)(1).

Examples of Taxable Wage Base in a sentence

• The following amount: $ (Cannot exceed the Taxable Wage Base in effect on the first day of the Plan Year.).

• The Employer Contribution allocable to Compensation in excess of the Integration Level (IL) may not exceed 5.4% if the IL is more than 80% but less than 100% of the Taxable Wage Base (TWB) under section 230 of the Social Security Act in effect as of the first day of the Plan Year, and may not exceed 4.3% if the IL is greater than 20% of the TWB, but not more than 80% of the TWB, and greater than $10,000.

• The Port shall contribute six and two tenths percent (6.2%) of the Taxable Wage Base on behalf of the members of the bargaining unit up to the annual maximum limits for Social Security to the Port of Seattle Firefighter’s Retirement Fund, in lieu of Social Security.

• Effective March 2, 1997, the Port will pay an amount equal to 1.45% of the employees’ Taxable Wage Base to employees hired prior to April 1, 1986.

• The discretionary Employer Contribution under AA §6-2 will be allocated under the two-step method (as defined in Section 3.02(a)(1)(ii)(A) of the Plan), using the Taxable Wage Base (as defined in Section 1.132 of the Plan) as the Integration Level.

More Definitions of Taxable Wage Base

Taxable Wage Base. The maximum amount of earnings which may be considered "wages" for the Plan Year involved under Code Section 3121(a)(1).

Taxable Wage Base means for any Plan Year, the maximum amount of earnings for the calendar year which includes the beginning of such Plan Year which may be considered wages for such calendar year under section 3121(a)(1) of the Code (which pertains to FICA wages).

Taxable Wage Base means the maximum amount of earnings which may be considered wages for a year under Section 3121(a)(1) of the Code, as in effect as of the first day of the plan year.

Taxable Wage Base. Means, with respect to any taxable year, the maximum amount of earnings which may be considered wages for such year under Section 3121(a)(1) of the Code.

Taxable Wage Base means, with respect to any calendar year, the contribution and benefit base in effect under Section 230 of the Social Security Act at the beginning of the calendar year.

Taxable Wage Base means 100% of the taxable wage base as determined under Section 230 of the Social Security Act in effect on the first day of the plan year.

Taxable Wage Base. [paragraph 1.63] [X] (i) Not Applicable - Plan is not integrated with Social Security.