Thrift Contribution definition
Examples of Thrift Contribution in a sentence
Any remaining Matching Thrift Contribution shall be allocated to each such Participant in the ratio that such Participant's Employee Thrift Contributions for the Plan Year bears to the total Employee Thrift Contributions of all such Participants for the Plan Year.
If elected by the Employer in the Adoption Agreement to provide for Employee Thrift Contributions, the Employer will contribute cash to the Trust Fund in an amount equal to (A) the Employee Thrift Contribution percentage of each Participant on his or her Employee Thrift Contribution election form multiplied by each such Participant's Compensation or (B) the specific dollar amount set forth on the Participant's election form.
Employee nondeductible contributions which are required to be eligible for a Matching Thrift Contribution.
The Administrator may reduce the amount of any Employee Thrift Contribution, or make such other modifications as necessary, so that the Plan complies with the provisions of the Code.
The amount elected by a Participant pursuant to a Participant's Employee Thrift Contribution election shall be determined within the limits specified in the Adoption Agreement.
If any Matching Thrift Contribution remains, it is allocated to each such Participant in an amount not to exceed ___% of the next ___% of each Participant's Compensation contributed as Employee Thrift Contributions for the Plan Year.
An Eligible Participant who does not direct an Elective Deferral or an Employee Thrift Contribution shall be treated as an Eligible Participant on behalf of whom no such contributions are made.
If any Matching Thrift Contribution remains, it is allocated to each such Participant in an amount not to exceed _____% of the next _____% of each Participant's Compensation contributed as Employee Thrift Contributions for the Plan Year.
The Employer shall make an Employer Thrift Contribution for each Plan Year in an amount, subject to the limitations provided in the Plan, equal to % [insert percentage not over 15% or "0" if no required contribution] of each Participant's Compensation for such Plan Year, plus any additional amount the Board of Directors of the Employer shall determine by resolution.
If any Matching Thrift Contribution remains, it is allocated to each such Participant in an amount not to exceed ____% of the next ____% of each Participant's Compensation contributed as Employee Thrift Contributions for the Plan Year.