Examples of Elective Deferral in a sentence
Maximum Elective Deferral or Roth 401(k)/403(b)/457(b) salary reduction contribution: (you must check only one) My elective deferral/salary reduction contribution does not exceed the Basic Limit (the lesser of my includible compensation or $19,500).
Maximum Elective Deferral or Roth 401(k)/403(b)/457(b) salary reduction contribution: (you must check only one) My elective deferral/salary reduction contribution does not exceed the Basic Limit (the lesser of my includible compensation or $20,500).
Contributions and withdrawals of Roth Elective Deferrals will be credited and debited to the Roth Elective Deferral account maintained for each Participant.
Gains, losses, and other credits or charges must be separately allocated on a reasonable and consistent basis to each Participant’s Roth Elective Deferral account and the Participant’s other accounts under the Plan.
No contributions other than Roth Elective Deferrals and properly attributable earnings will be credited to each Participant’s Roth Elective Deferral account.