Nondeductible Employee Contributions. This Plan will not accept Nondeductible Employee Contributions and matching contributions for Plan Years beginning after the Plan Year in which this Plan is adopted by the Employer. Nondeductible Employee Contributions for Plan Years beginning after December 31, 1986, together with any matching contributions as defined in Section 401(m) of the Code, will be limited so as to meet the nondiscrimination test of Section 401(m) of the Code. A separate account will be maintained by the Plan Administrator for the Nondeductible Employee Contributions of each Participant. A Participant may, upon a written request submitted to the Plan Administrator withdraw the lesser of the portion of his or her Individual Account attributable to his or her Nondeductible Employee Contributions or the amount he or she contributed as Nondeductible Employee Contributions. Nondeductible Employee Contributions and earnings thereon will be nonforfeitable at all times. No Forfeiture will occur solely as a result of an Employee's withdrawal of Nondeductible Employee Contributions. The Plan Administrator will not accept deductible employee contributions which are made for a taxable year beginning after December 31, 1986. Contributions made prior to that date will be maintained in a separate account which will be nonforfeitable at all times. The account will share in the gains and losses of the Fund in the same manner as described in Section 4.03 of the Plan. No part of the deductible employee contribution account will be used to purchase life insurance. Subject to Section 6.05, joint and survivor annuity requirements (if applicable), the Participant may withdraw any part of the deductible employee contribution account by making a written application to the Plan Administrator.
Nondeductible Employee Contributions. May a Contributing Participant make Nondeductible Employee Contributions pursuant to Plan Section 3.05 (select one)? Option 1: Yes.
Nondeductible Employee Contributions. Will Employees be permitted to make Nondeductible Employee Contributions pursuant to Section 11.305 of the Plan? [ ] Yes [X] No Check here if such contributions will be mandatory. [ ]
Nondeductible Employee Contributions. All Nondeductible Employee Contributions shall be credited to the Nondeductible Employee Account of the Participant making the contribution as of each Valuation Date.
Nondeductible Employee Contributions. 5 1.30 NORMAL RETIREMENT AGE ............................................. 6 1.31
Nondeductible Employee Contributions. 11 3.03 Rollover............................................................................. 12 3.04
Nondeductible Employee Contributions. 8 1.30 NORMAL RETIREMENT AGE.........................................8 1.31 OWNER - EMPLOYEE..............................................8 1.32 PARTICIPANT...................................................8 1.33 PLAN..........................................................8 1.34
Nondeductible Employee Contributions. The existing qualified plan to be replaced is called a “Prior Plan.” You will need to know the Effective Date of the Prior Plan. The best way to deter- mine its Effective Date is to refer to the Prior Plan Standardized Adoption Agreement. • On the first line, enter the Prior Plan’s initial Effective Date from the original Standardized Adoption Agreement. • On the second line, if the plan is frozen, check the box and enter the effective date. • On the third line: 1.) to amend another plan by adopting this plan, enter the first day of the Plan Year that the Employer signs this document (e.g., 1/1/22 for a calendar year plan when the business establishment date was 1/1/22 or prior and document is signed by 12/31/22), or,
Nondeductible Employee Contributions. (a) In general (b) Recharacterization of Excess Contributions
Nondeductible Employee Contributions. (a) In general. If the Adoption Agreement provides for Nondeductible Employee Contributions, a Participant may, at his option, make such Contributions to the Plan in cumulative amounts not to exceed ten percent (10%) of his Compensation for the Plan Year, or such percentage as specified in the Adoption Agreement. The amount of such Contributions, if any, shall be designated by the Participant on a form prescribed by the Plan Administrator. The method of payment of such Contributions shall be by payroll withholding unless otherwise specified in the Adoption Agreement.
