Employer Contributions Account Sample Clauses

Employer Contributions Account. The plan administrator will maintain a separate employer contributions account for each participant. Employer contributions allocated to a participant will be credited to his employer contributions account. No forfeitures will occur solely as a result of an employee's withdrawal of employee contributions.
Sample 1
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Employer Contributions Account. To elect to transfer investments under this subsection (a), a Participant must direct, in such written, electronic or telephonic form as is prescribed by the Administrator, that his interest (including earnings), in 1% increments, be transferred from an Investment Fund to any other Investment Fund or Funds, in 1% increments. Generally transfers will be made within four business days of receipt of proper notice.
Sample 1
Employer Contributions Account. As soon as practicable after the end of each Payroll Period, the Administrator shall credit each Participant’s Employer Contributions Accounts with the Stock, including fractional shares, representing his share of the Stock provided by Employer Contributions for the Payroll Period. A portion of the Stock will be funded with shares from the ESOP. The remaining Stock may be purchased on the open market or via newly issued shares. The Stock from the ESOP will be based on the closing price on the New York Stock Exchange for the Friday of the Payroll Period. If newly issued shares of Stock are issued, they will be based on the closing price on the New York Stock Exchange for the Friday of the Payroll Period. If cash is contributed, they will be based on the Friday of the Payroll Period net aggregate average price of all trades placed during the day in the Trust. There shall be credited to each Participant’s Employer Stock Account at the time of its receipt all Stock received by the Trustee on account of stock dividends or stock splits which are attributable to Stock previously credited to such Accounts.
Sample 1
Employer Contributions Account. The Employer agrees that Executive shall be eligible to receive Employer Contributions to his Account under the Nonqualified Plan, which Employer Contributions shall be subject to the terms and conditions set forth in this Agreement and the Nonqualified Plan. Employer Contributions made on Executive's behalf shall be credited to a subaccount established under Executive's Account under the Nonqualified Plan, which subaccount will be known as the "Employer Contributions Account."
Sample 1
Employer Contributions Account. With respect to a Participant's Employer Contributions Account, the Employer elects the following vesting schedule: (Choose one)
Sample 1
Employer Contributions Account. Effective for Participants who perform one or more Hours of Service on or after the Effective Date, each Participant's Employer Contributions Account shall become Vested as follows (check one): ***ALL PARTICIPANTS IN THE SOUTHERN CALIFORNIA BANK EMPLOYEE RETIREMENT PLAN WHO WERE ACTIVE EMPLOYEES ON DECEMBER 31, 1997 BECAME 100% VESTED IN THEIR ACCOUNT BALANCES. NOT APPLICABLE. ----- FULL VESTING. Each Participant's Employer Contributions ----- Account shall be fully (100%) Vested at all times.
Sample 1
Employer Contributions Account. (a) UPON ATTAINMENT OF NORMAL RETIREMENT AGE: Each Participant's Employer Contributions Account to which Employer Nonelective Contributions, Employer Matching Contributions and/or Profit Sharing Contributions have been allocated, shall be fully vested upon the Participant attaining Normal Retirement Age. Upon termination of employment on or after the Participant has attained his or her Normal Retirement Age, the Participant shall be entitled to receive a distribution of his or her entire Account in accordance with the provisions of Section 7.04.
Sample 1
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Employer Contributions Account. The Governing Board shall maintain, or cause the Plan’s record-keeper to maintain, a separate‌ Employer Contributions Account for each Participant to account for the Employer Contributions of each Participant.
Sample 1

Related to Employer Contributions Account

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • Employer Profit Sharing Contributions An Employee will be eligible to become a Participant in the Plan for purposes of receiving an allocation of any Employer Profit Sharing Contribution made pursuant to Section 11 of the Adoption Agreement after completing 1 (enter 0, 1, 2 or any fraction less than 2)

  • Rollover Contributions Generally, a rollover is a movement of cash or assets from one retirement plan to another. If you are required to take minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Both the distribution and the rollover contribution are reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. IRA-to-IRA Rollover: You may withdraw, tax free, all or a portion of your Traditional IRA if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Traditional IRA as a rollover. To complete a rollover of a SIMPLE IRA distribution to your Traditional IRA, at least two years must have elapsed from the date on which you first participated in any SIMPLE IRA plan maintained by the employer, and you must contribute the distribution within 60 days from the date you receive it. Only one IRA distribution within any 12-month period may be rolled over in an IRA-to-IRA rollover transaction. The 12-month waiting period begins on the date you receive an IRA distribution that you subsequently roll over, not on the date you complete the rollover transaction. If you roll over the entire amount of an IRA distribution (including any amount withheld for federal, state, or other income taxes that you did not receive), you do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents basis) and may be, if you are under age 59½, subject to the premature distribution penalty tax. Employer Retirement Plan-to-Traditional IRA Rollover (by Traditional IRA Owner): Eligible rollover distributions from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Traditional IRA. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that may not be rolled over to your Traditional IRA include any required minimum distributions, hardship distributions, any part of a series of substantially equal periodic payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover from an employer plan to your Traditional IRA, you must generally instruct the plan administrator to send the distribution to your Traditional IRA Custodian. To complete an indirect rollover to your Traditional IRA, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution to complete an indirect rollover. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents after-tax contributions) and may be, if you are under age 59½, subject to the premature distribution penalty tax. If you choose the indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the full amount. If you do not make up the withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Conduit IRA: You may use your IRA as a conduit to temporarily hold amounts you receive in an eligible rollover distribution from an employer’s retirement plan. Should you combine or add other amounts (e.g., regular contributions) to your conduit IRA, you may lose the ability to subsequently roll these funds into another employer plan to take advantage of special tax rules available for certain qualified plan distribution amounts. Consult your tax advisor for additional information. Employer Retirement Plan-to-Traditional IRA Rollover (by Inherited Traditional IRA Owner): Please refer to the section of this document entitled “Inherited IRA”. Traditional IRA-to-Employer Retirement Plan Rollover: If your employer’s retirement plan accepts rollovers from IRAs, you may complete a direct or indirect rollover of your pre-tax assets in your Traditional IRA into your employer retirement plan. If you are required to take minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Rollover of Exxon Xxxxxx Settlement Income: Certain income received as an Exxon Xxxxxx qualified settlement may be rolled over to a Traditional IRA or another eligible retirement plan. The amount contributed cannot exceed the lesser of $100,000 (reduced by the amount of any qualified settlement income contributed to an eligible retirement plan in prior tax years) or the amount of qualified settlement income received during the tax year. Contributions for the year can be made until the due date for filing your return, not including extensions.

  • Retirement Accounts With respect to certain retirement plans or accounts (such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, Education IRAs, and 403(b) Plans (such accounts, “Retirement Accounts”), the Transfer Agent, at the request and expense of the Fund, provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial agent services such as account set-up maintenance, and disbursements as well as such other services as the parties hereto shall mutually agree upon.

  • Deferral Account 3.1 Establishing and Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Qualified Nonelective Contributions If the Employer, at the time of contribution, designates a contribution to be a qualified nonelective contribution for the Plan Year, the Advisory Committee will allocate that qualified nonelective contribution to the Qualified Nonelective Contributions Account of each Participant eligible for an allocation of that designated contribution, as specified in Section 3.04 of the Employer's Adoption Agreement. The Advisory Committee will make the allocation to each eligible Participant's Account in the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all eligible Participants for the Plan Year. The Advisory Committee will determine a Participant's Compensation in accordance with the general definition of Compensation under Section 1.12 of the Plan, as modified by the Employer in Sections 1.12 and 3.06 of its Adoption Agreement.

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