Transition Year Deferrals definition

Transition Year Deferrals means any Compensation which would have been earned and/or payable during calendar year 2005 but for an election made by the Participant in accordance with Code Section 409A (and any corresponding IRS or Department of Treasury guidance) to defer such Compensation under this Plan but which such deferral election has not been revoked pursuant to Section 5.4(b) of this Plan (including earnings credits attributable to such amounts per Article 6).
Sample 1
Transition Year Deferrals means any Compensation which would have been earned and/or payable during calendar year 2005 but for an election made by the Participant in accordance with Code Section 409A (and any corresponding IRS or Department of Treasury guidance) to defer such Compensation under this Plan and which such deferral election had not been revoked, as previously allowed by the Plan and certain transitional rules to Code Section 409A.
Sample 1

Examples of Transition Year Deferrals in a sentence

  • For purposes of Transition Year Deferrals that relate to service prior to December 31, 2004 and payable in 2005 (i.e. deferred 2004 annual incentive plan payments) the Earnings Credit Rate shall at all times be computed as quarterly interest rate, equal to ¼ of the sum of the annual yield on 10-year U.S. Treasury notes plus 300 basis points (3%).

  • Participants who choose to not revoke such deferral election shall have their Transition Year Deferrals governed under the terms of this Plan.

Related to Transition Year Deferrals

  • transition year means the financial year of an issuer or business in which the issuer or business changes its financial year-end;

  • Compensation Year means a period of 12 months expiring 31 March in any year;

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

  • 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.

  • 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.

  • 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

  • Plan Year means the calendar year.

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

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

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • Limitation Year means the Plan Year.

  • 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.

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

  • Deferrals means the amount of the Director’s Compensation that the Director elects to defer according to this Agreement.

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

  • 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.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Matching Contributions means local cash and/or in-kind contributions made by the Contractor, a subcontractor, or other local resources that qualify as match for the Contract funding.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • taxation year means the calendar year to which an assessment roll applies for the purposes of taxation;

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • Employer Contributions means all amounts paid into ASRS by an

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.