Laserfiche WebLink
ARTICLE II <br />CONTRIBUTIONS <br />2.1 Employer Contributions. <br />For each day that an Eligible Employee remains a Participant under this Plan, the <br />Employer shall contribute three and seventy-five hundredths percent (3.75%) of his or <br />her Compensation to his or her Account. The Employer shall contribute such amounts to <br />the Trust at such times as are determined by the Employer in its discretion, but no less <br />frequently than annually. <br />2.2 Employee Contributions. <br />For each day that an Eligible Employee remains a Participant under this Plan, the <br />Employee shall contribute three and seventy-five hundredths percent (3.75%) of his or <br />her Compensation to his or her Account. Such contributions shall be pre-tax <br />contributions accomplished by means of compensation reduction and shall be credited to <br />his or her Account. The Employee shall contribute such amounts to the Trust at such <br />times as are determined by the Employer in its discretion, but no less frequently than <br />annually. <br />2.3 Limitations on Contributions. <br />(a) Normal Limitation. Except as provided in Subsection (b) below, the <br />maximum amount which may be contributed on behalf of a Participant for any taxable <br />year of the Participant (the "Normal Limitation") shall not exceed the lesser of (i) the <br />Applicable Dollar Amount or (ii) one hundred percent (100%) of the Participant's <br />Compensation. <br />(b) Catch -Up Limitation. For each of a Participant's last three (3) taxable <br />years ending before the Participant attains Normal Retirement Age, the maximum amount <br />M31:564577.3 55 " -48 <br />