§ 2. Employee contributions.  


Latest version.
  • Participants or certain classes of Participants may be required to make Contributions to the Plan as specified in the Adoption Agreement. Unless otherwise specified by the Adopting Employer, Employee Contributions shall accrue interest at the same rate and in the same manner as Employer Contributions. When elected by the Adopting Employer to be picked-up, the Adopting Employer shall pick-up and pay contributions in accordance with Code Section 414(h)(2) as follows:

    (a)

    The contributions, although designed as Employee contributions, are being paid by that Adopting Employer in lieu of contributions by the Employee, and

    (b)

    The Employee must not be given the option of receiving the amounts directly instead of having them paid to the Plan.