Contribution Holiday definition

Contribution Holiday means a period when an employer is not required to make contributions into a scheme fund;
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Contribution Holiday means a period agreed with the Company during which Regular Contributions are suspended but the Contract remains in force.
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Contribution Holiday means the full or partial reduction of the contributions normally paid by both the Members who are Academic Employees and the University into the Fund in accordance with the Funding Policy, where such reduction is required under the Income Tax Act.
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Examples of Contribution Holiday in a sentence

  • If you resume paying the Regular Contribution and Additional Regular Contributions, the Contribution Holiday status of the Plan will cease and the Paid-Up Charge will stop.

  • Contribution Holiday means the period during which you temporarily stop paying the Regular Contribution or any Additional Regular Contribution after the ICP.

  • If the Regular Contributions are not recommenced after the end of Contribution Holiday period then the Plan will be dealt with according to Clauses 1.9.4.

  • The Company will only permit a Contribution Holiday subject to there being a maximum of 36 months’ of missed Regular Contributions in any given 15 year period.

  • The Contribution Holiday will be granted if the value of the PIA is deemed, at the Operators discretion, to be sufficient to fund the estimated cost of Protection Benefits and other charges during the Contribution Holiday.

  • Xxxx Xxxxxx Director Human Resources Pension Contribution Holiday January 1, 2005 For the duration of this Agreement, it is understood that the Company will not seek a contribution holiday with respect to pension contributions made on behalf of members of the Steelworkers of America.

  • If Regular Contributions do not re-start after a Contribution Holiday then the Contract will be treated in accordance with Clause 27.

  • The effective date of a Contribution Holiday will be the due date of the first unpaid Regular Contribution.

  • The bonus allocated shall be partially deducted if Contribution Holiday is availed during Plan Term.

  • The reduction in bonus allocation shall be equivalent to the bonus pertaining to the Plan Year during which Contribution Holiday is taken.


More Definitions of Contribution Holiday

Contribution Holiday means a period when an employer is not required
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Contribution Holiday means a period of not less than 3 months and not more than 5 years during which the Employee Member shall not be required to contribute as specified in the Member’s application for a Contribution Holiday provided that a Member may take successive Contribution Holidays.
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Contribution Holiday. , in relation to a fund, means payment by the employer of less than—
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Related to Contribution Holiday

  • Accumulated contributions means the sum of all

  • Delayed contribution payment means an amount paid by an employee for purchase of current service. The amount shall be determined using the same formula in KRS 61.5525, and the payment shall not be picked up by the employer. A delayed contribution payment shall be deposited to the member's account and considered as accumulated contributions of the individual member. In determining payments under this subsection, the formula found in this subsection shall prevail over the one found in KRS 212.434;

  • Charitable contribution means any donation or gift of money or any other thing of value.

  • Contributing Employer means any employer other than a reimbursing employer or rated governmental employer.

  • Campaign Contribution means a gift, subscription, loan, advance or deposit of money or other thing of value, including the estimated value of an in-kind contribution, that is made to or received by an applicable public official or any person authorized to raise, collect or expend contributions on that official’s behalf for the purpose of electing the official to either statewide or local office. “Campaign Contribution” includes the payment of a debt incurred in an election campaign, but does not include the value of services provided without compensation or unreimbursed travel or other personal expenses of individuals who volunteer a portion or all of their time on behalf of a candidate or political committee, nor does it include the administrative or solicitation expenses of a political committee that are paid by an organization that sponsors the committee.

  • Regular contributions means the amounts required to be

  • Defined Contribution Plan Fraction means a fraction, the numerator of which is the sum of the Annual Additions to the Member's account under all the defined contribution plans (whether or not terminated) maintained by the Employer for the current and all prior Limitation Years (including the Annual Additions attributable to the Member's nondeductible employee contributions to all defined benefit plans, whether or not terminated, maintained by the Employer, and the Annual Additions attributable to all welfare benefit funds, as defined in Code Section 419(e), and individual medical accounts, as defined in Code Section 415(l)(2), maintained by the Employer), and the denominator of which is the sum of the maximum aggregate amounts for the current and all prior Limitation Years of service with the Employer (regardless of whether a defined contribution plan was maintained by the Employer). The maximum aggregate amount in any Limitation Year is the lesser of 125 percent of the dollar limitation determined under Code Section 415(b) and (d) in effect under Code Section 415(c)(1)(A) of the Code or 35 percent of the Member's Compensation for such year. If the Member was a member as of the end of the first Limitation Year beginning after December 31, 1986, in one or more defined contribution plans maintained by the Employer which were in existence on May 6, 1986, the numerator of this fraction shall be adjusted if the sum of this fraction and the Defined Benefit Plan Fraction would otherwise exceed 1.0 under the terms of this Plan. Under the adjustment, an amount equal to the product of (1) the excess of the sum of the fractions over 1.0 times (2) the denominator of this fraction, will be permanently subtracted from the numerator of this fraction. The adjustment is calculated using the fractions as they would be computed as of the end of the last Limitation Year beginning before January 1, 1987, and disregarding any changes in the terms and conditions of the plan made after May 5, 1986, but using the Code Section 415 limitations applicable to the first Limitation Year beginning on or after January 1, 1987. The Annual Addition for any Limitation Year beginning before January 1, 1987, shall not be recomputed to treat all employee contributions as Annual Additions.

  • statutory parental bereavement pay means a payment to which a person is entitled in accordance with section 171ZZ6 of the Social Security Contribution and Benefits Act 1992;

  • Contribution Rate means, in a reserve study as described in RCW 64.38.065, the amount contributed to the reserve account so that the association will have cash reserves to pay major maintenance, repair, or replacement costs without the need of a special assessment.

  • Pay Day means a specific day or date established by the employer on which wages are paid for hours worked during a pay period.

  • Matching Contribution means an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of a Participant's Deferral Contribution.

  • Member contribution means a contribution under regulation 32;

  • Defined Contribution Plan A retirement plan which provides for an individual account for each participant and for benefits based solely on the amount contributed to the participant's account, and any income, expenses, gains and losses, and any forfeitures of accounts of other participants which the plan may allocate to such participant's account. The Advisory Committee must treat all defined contribution plans (whether or not terminated) maintained by the Employer as a single plan. Solely for purposes of the limitations of Part 2 of this Article III, the Advisory Committee will treat employee contributions made to a defined benefit plan maintained by the Employer as a separate defined contribution plan. The Advisory Committee also will treat as a defined contribution plan an individual medical account (as defined in Code Section 415(l)(2)) included as part of a defined benefit plan maintained by the Employer and, for taxable years ending after December 31, 1985, a welfare benefit fund under Code Section 419(e) maintained by the Employer to the extent there are post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code Section 419A(d)(3)).

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Elective Contribution means the Employer contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess “annual additions” pursuant to Section 4.11(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.7(b) which is used to satisfy the “Actual Deferral Percentage” tests shall be considered an Elective Contribution for purposes of the Plan. Any contributions deemed to be Elective Contributions (whether or not used to satisfy the “Actual Deferral Percentage” tests or the “Actual Contribution Percentage” tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the nondiscrimination requirements of Regulation 1.401(k)-1(b)(5) and Regulation 1.401(m)-1(b)(5), the provisions of which are specifically incorporated herein by reference.