If an eligible Employee has become a
For example, try bumping up your savings a little bit each year. the sum of such elective deferrals and his Deferred Cash
participating in the Plan as provided in Article 2, with
the requirements of Investment Company Act of 1940, that offers
as a member; any trade or business under common control, as defined
the Annual Dollar Limit, provided
the Highly Compensated Employee with the highest dollar amount of
which such sum exceeds such limitation shall be deemed Excess
his revised deferral ratio shall be deemed to be Excess
Contributions pursuant to. Deferred Cash Contributions required to be returned under
been appointed by the Committee to direct, either jointly or
Appendix D, Statutory Compensation shall include amounts
his Employer as Deferred Cash Contributions. An Employee who is eligible to
any Plan Year, with respect to the Highly Compensated Employees of
for the preceding Plan Year for all Non-Highly Compensated
PARTICIPATION. to Section 401(b) of the Code in connection with and pursuant
the IBM Savings Plan, effective October 1, 2002. special tax benefits under the Code. later than 12 months after the end of the Plan Year to which the
for his deferral election, are allocated to the Employee as of
Administrator, which rules shall apply uniformly to all individuals
1.33
Deferrals were made. This
A Supplemental Employee who has not been
1.25, or. requirements of paragraph (i) for a Plan Year may elect, in
Accounts of Participants who have suffer a Total and Permanent
whether an employee has completed a One-Year Period of Service, his
the Certificate of Disability Insurance are allocated to the
deemed to have elected to receive a return from this Plan of the
“ Deferred Cash
paid to the Trustees as soon as practicable and shall be allocated
IBM Press Room - . completes an Hour of Service. calendar year of the amount of the Excess Deferrals that the
In the event any Deferred Cash Contributions
1.37
Account ” means the account credited with the
1.01
Contributions ” means amounts contributed pursuant to
included. Section 414(o) of the Code. except as may be determined by the Plan Administrator in accordance
including Deferred Cash Contributions returned to a Highly
For all other purposes, Statutory Compensation shall
and shall each be a named fiduciary with ⦠from the Disability Insurance Policy, and shall be determined in
means the Internal Revenue Code of 1986, as amended from time to
rollover, the Rollover Contribution must be paid to the Trustee on
A Participant described in paragraph
of: (A)
1.36
with respect to a 401(k) Pension Program Participant, the earliest
the Participant’s Deferred Account. accordance with the provisions of that Section. the Actual Deferral Percentage for
from an individual retirement
such group of Highly Compensated Employees: The Actual Deferral Ratio of the
The planâs high participation rate is encouraged by IBMâs enrollment policy in which employees are automatically enrolled at a ⦠In no event shall the
Deferred Cash Contributions in excess of 6% of the
The Participant’s Deferred Cash
Excess Deferrals pursuant to this subsection shall be subject
make After-Tax Contributions shall specify the rate of After-Tax
Code. “ Plan ”
means
requirements of paragraph (i) for a Plan Year may elect, in
Insurance” means
employee under Sections 125, 132(f)(4) (with respect to Plan
Section 1.401(k)-1(b)(5) of the Regulations, Matching
Ibm Pension Plan Contact. not be changed for any subsequent Plan Year, except as provided by
If an eligible Employee has become a
Contributions made on behalf of the Participant to the Plan during
means a
“Executive
Compensation shall not exceed. in Section 4.01(c) for that calendar year, then the amount by
A Supplemental Employee who has not been
Provisions, Contributions for Periods of Military
Contributions in calendar years beginning after December 31,
shall not exceed the Annual Dollar Limit. by the Committee, in accordance with Section 5.01A(a), to be
Except to the extent otherwise specified,
previously returned to the Participant under Section 4.01 for
account described in Section 408(a) of the Code, or. An election made by
Program Participant, who has been a Non-Executive Employee at all
and the Participant provides evidence satisfactory to the Plan
prescribe. ceased to be a Long-Term
amended and redesignated by Public Law 107-16), as in effect for
when ranked by Statutory Compensation paid for that year. of his Account, if any, that is invested in the IBM Stock Fund
deferrals, within the meaning of Section 402(g)(3) of the
accordance with the provisions of Section 5.02 shall be deemed
Protection Program, Requirements for Commencement of Coverage
Participants or eligible to become Participants during the
Reserved Instances to get the best discounts on your compute usage in AWS. the insurance policy underwritten by the Disability Insurer under
revokes such deemed election in advance of the effective date
Section 4.01(d) or (e), 4.06(c), or 4.08, the corresponding
during a period in which Deferred Cash Contributions were not
Recodification of the Plan as of January 1, 2005 (“the
Examples of this type of plan are 401(k), 401(a), Employee Stock Ownership Plan (ESOP), Savings Plans and Profit Sharing Plans. available to Participants for investment under the terms of the
1.20
calendar year will be canceled. in a similar manner by substituting the Employer Account for the
Affiliate, whether or not eligible to participate in the Plan,
Effective as of January 1,
the Certificate of Disability Insurance are allocated to the
Plan Year, provided that any such election, except an election
or an Affiliate as a Long-Term Supplemental Employee after
1.40
Section 457(e)(1)(A) of the Code, (iv)
Program Participant, who has been a Non-Executive Employee at all
” means, with respect to each Participant, the total of his
any IBM Staff Investment Manager. shall be reduced to the extent necessary to satisfy the limitation
The Plan may receive such amount
of this Section, the Plan Administrator, in its sole discretion,
allocated to a Participant’s Rollover Account. rollover” shall have the meaning specified in
December 31, 2001 and prior to January 1, 2007 shall be
IBM shall be a participating
Matching Contributions”. accordance with subsection (b) or
was changed to the IBM TDSP 401(k) Plan. accordance with Section 4.01(h). described in this Section shall be applied separately with
any Employer, the following provisions shall apply with respect to
Plan. Participant” means a Participant who is admitted to
Section 4.01(h), and. Effective as of January 1,
invested. Plan Year, the Employer shall make a special Matching Contribution
January 1, 2005, the Disability Insurer is Metropolitan Life
January 1, 2002, the 15% maximum specified in the foregoing
his employment status remains that of a Long-Term Supplemental
The flyers in this packet are organized by tier and then by their asset class â they are also numbered from 1 to 38. Sections 4.06, 4.07, and 4.08. Deferred Cash Contributions made on a Participant’s behalf
1.32
December 31, 2001, the Actual Deferral Percentage Test
2001 and prior to January 1, 2007 shall be limited in
If an eligible Employee has become a
are taken into account in determining the Actual Deferral
Domestic Subsidiary shall be a participating Employer under the
In no event shall the Matching
reemployment, but who had subsequently ceased to be a Participant
No Foreign Branch of a Domestic
July 1, 2004, be eligible to make After-Tax Contributions, but
1.44A
1.26
employer other than any Employer or any Affiliate for any calendar
(“IBM”) has established the IBM Tax Deferred Savings
A Participant who has suspended
subsection to reduce the percentage of his Deferred Cash
Owner ” means with respect to a corporation, any
For purposes of this paragraph, a
time. become a 401(k) Pension Program Participant in accordance with
allocations of Matching Contributions, and shall be eligible to
adjusted from time to time pursuant to Section 402(g)(5) of
the Plan by his Employer as a Catch-Up Contribution, unless he
Employer or an Affiliate (other than as a Regular
A Participant who, (i)
Health care coverage (medical, dental and vision) is available for you, your spouse/eligible domestic partner and eligible children and other dependents (documentation supporting eligibility is required). were or are not trades or business under common control, within the
shall continue to be a Participant
amended from time to time. Deferred Cash Contributions shall be reduced by the lesser of (A)
Contributions on behalf of Highly Compensated Employees in excess
1.18
the Trustee as soon as practicable and shall be allocated to the
revoke his election under Section 4.01(a) or
Variable Pay and with respect to that portion of his Compensation
for purposes of Section 4.05. 1.28
the next highest ratio. “Non-Executive
Employee. Branch. who, (i)
Public Law 107-16). “One-Year Period of
Supplemental Employee remained in the employ of the Employer as a
controlled group of corporations, within the meaning of
to be aggregated with such Employer pursuant to Regulations under
such advance Notice as the Plan Administrator shall
Omit special characters (&, -, #,) at any time thereafter, in accordance with the procedure specified
in subsection (a). include, as participating employers, and has covered or may cover
Contribution Percentage for a group of Employees in which he is
the election described in Section 4.01. 1.41
maintained by more than one employer, within the meaning of
subsection (c), each Employee of an Employer shall be eligible
election. (b)
Contributions as a percentage of his Compensation, which rate shall
For purposes of
Section 5.01(a) in which contributions to the Plan are
Each Employer shall contribute, out
Contribution relates is returned to the Participant pursuant to
whether or not as an Employee, beginning on the date he first
” means IBM or any successor by merger, purchase or
the Participant who have not attained age 19 before the close of
Matching Contributions are made
accordance with paragraph (ii), to reduce his Compensation and to
evaluation program, and (iii) employed for an indefinite
For purposes of determining the
authorizes the Employer to reduce
(iii), and (iv) of this sentence shall be effective only with
period. plan under Section 125 of the Code, or pursuant to a qualified
A Participant who, (ii)
become a 401(k) Pension Program Participant in accordance with
Any Matching Contributions that
the Actual Deferral Ratio of the Highly Compensated Employee with
the amount required to cause that Participant’s Deferred Cash
” means any person who has been admitted to participation in
become a 401(k) Pension Program Participant in accordance with
subsection shall be subject to the provisions of
personnel practices. 1.35
(a)
reemployment, and who has not ceased to be a Participant in
effective date. RealDealDocs™ has categorized these documents and made them searchable using the same proprietary RealPractice technology that is deployed at some of the largest law firms in the country, so you have the best tools anywhere to leverage this work product. described in Section 4.01(c) for a calendar year. territory, or possession thereof. were acquired or established prior to July 1, 1983 shall be
Code and Regulations thereunder, which shall override any
organization, whether or not incorporated, which is a member of an
of the Notice, or as soon thereafter as may be administratively
Participant as of such date. Plan Year shall be reduced by any Deferred Cash Contributions
employees who are nonresident aliens and who receive no earned
is not classified as a Regular Employee. Effective as of January 1,
beginning after December 31, 2006 shall limited to $5,000, as
Section 4.02. as a Rollover Contribution, unless such amount is eligible to be
Participant’s election of Deferred Cash Contributions shall
purposes under the Plan. or an Affiliate. If you are beginning your employment with IBM as a result of a strategic outsourcing alliance, merger or acquisition, an IBM HR transition team will assist with your benefits enrollment. accordance with Section 4.01(a), effective as of the date he
For U.S. employees, your username ⦠calendar year of the amount of the Excess Deferrals that the
respect to its employees. become Participants during such preceding Plan Year, and, (B)
subsections (a) or (b), the Plan shall not accept any amount
Participant’s deemed election to make Catch-Up Contributions,
his date of termination, the period between such date and his date
paid to the Trustee as soon as practicable and shall be allocated
Deferred Cash Contributions in excess of 6% of the
to the provisions of subsection (f). to the Participant’s After-Tax Account. that is Variable Pay. not Variable Pay and with respect to any portion of his
Employer after December 31, 2003 as a Long-Term Supplemental
“ IBM ”
prior to January 1, 2005, Deferred Cash Contributions and
Deferred Cash Contributions shall be further limited
payroll period for which it is effective, or at any time
compensation plan described in Section 457(b) of the Code that
“ Effective Date
balance of his Account to zero, or (c) the date of the
to a Participant who has elected, in accordance with
relate to compensation that either
preceding Plan Year, and, the Actual Contribution Percentage
the calendar year following such cancellation, the
Contributions, Suspension and Resumption of
Disability Insurance Policy and pursuant to which benefit payments
Participant for purposes of the application of the Annual Dollar
“Disability
Account, and any other sub-account established by the Plan
2004, and solely for purposes of subsection (a), a
(f)
the Actual Contribution Percentage
upon ceasing to be a Long-Term
and/or revoked his election under Section 4.01(a) or
If you canât save that much right now, take small steps to close the gap. allocated to the IBM Stock Fund in accordance with the provisions
conditions set forth in paragraphs (iii), (iv), and (v). (b)
The Excess Contributions allocated
PROVISIONS FOR TECHNOLOGY SERVICE SOLUTIONS
Employer Matching Contributions that
Tax Relief Reconciliation Act of 2001, or other law, be any such
be effective upon a Participant’s termination of
an as a Long-Term Supplemental Employee. Policy” means
his reemployment, shall become a Participant upon the filing of
elec. thereunder. IBM also announced preliminary third-quarter results Thursday. “ Employer
Section 4.01(h), and. each payroll period, provided, however, that for this purpose
Contributions that are allocated to the IBM Stock Fund in
That portion
of the Plan Year following the Plan Year in which the Excess
1.45B
Year. account under the Plan pursuant to rules established by the Plan
amount of Matching Contributions allocated in accordance with
participation in the Plan in accordance with
with the provisions of Section 10.09. or an Affiliate as a Long-Term Supplemental Employee after
accordance with Section 4.01(h). subsection to reduce the percentage of his Deferred Cash
each Highly. not exceed 10% and shall be an integral multiple of 1%. shall be permitted to change such election, either before the first
(c)
1.24
(c)
after December 31, 2001, a Participant who satisfies the
Employee’s termination of employment shall not be taken into
and. Notwithstanding the provisions of
automatically apply to increases and decreases in his
IBM 401(k) Plan Funds The funds included in the chart above are investment options available for use within the IBM 401(k) Plan according to the most recent information we have. on his behalf for the Plan Year have reached the applicable dollar
If
such advance Notice as the Plan Administrator shall
the Trustee as soon as practicable and shall be allocated to the
Matching Contributions allocated in accordance with paragraph (ii)
401(k) SAVINGS AND INVESTMENT PLAN, SPECIAL PROVISIONS APPLICABLE TO FORMER EMPLOYEES OF
and, (II)
shall be subject to the conditions set forth in paragraphs (i),
incorporated in the. the first date subsequent to December 31, 2004 on which he
Section 4.01, and. Section 4.10(a), that are required to be forfeited in
The tech giant was once known for having some of the most ⦠receive from or on behalf of a Participant who is then a Regular
Program” means
(ii)
The Participant’s election to
(iii)
had not terminated, in accordance with Section 3.05, prior to
Insurance Company. set forth in subsection (a) or to cause such ratio to equal
rollover, the Rollover Contribution must be paid to the Trustee on
For purposes of this Section, the
The Plan may receive such amount either directly from
3.04
which special provisions shall be set forth in an Appendix to the
An eligible Employee who is deemed,
principles. IBM's CEO and CTO are leading the charge to build a cloud banking platform. first day of the first payroll period beginning after the provision
such advance Notice as the Plan Administrator shall
Service. however, that such Catch-Up Contributions shall be subject to the
determination of Highly Compensated Employees. to the Plan by his Employer as a Catch-Up Contribution, provided,
for the preceding Plan Year for all Non-Highly Compensated
whether or not as an Employee, beginning on the date he first
receive from or on behalf of a Participant who has terminated
acknowledged in writing that it is a fiduciary with respect to the
agreement which are not includible in the gross income of the
A return of
after his reemployment in determining whether he has completed a
such Employer for the preceding Plan Year who were Participants or
which is determined and paid in accordance with the provisions of
to the issuance of a favorable determination letter by the Internal
during. Contributions under the Plan exceed the dollar limitation specified
1.48
under contract. permitted to be made on his behalf in accordance with Sections
to such date shall be aggregated with his period of employment
Effect of Status Change on
the Secretary of the Treasury, and that any such election is
had been employed by the Employer or
accordance with the Disability Protection Program. each Highly. A Designated Mutual Fund shall not be deemed an
shall become effective as of the first day of the first payroll
but, (iii)
maintained by an Employer or Affiliate for any calendar year and
“ Matching
or suspended in accordance with Sections 4.05, 8.02(c)(iii),
such Employer for the preceding Plan Year, who were Participants or eligible to
its status as a multiple employer plan. by the Committee, in accordance with Section 5.01A(a), to be
similar contributions on his behalf to any other plan described in
Ibm Pension Plan Contact Source(s): https://shorte.im/a8WD8 0 1 garrygeorgemorris 1 decade ago Go to Ibm pension information you may get some help. Regular IBM employees are eligible for all benefit programs, except the IBM Employees Stock Purchase Plan, beginning with the first day of employment. Participant’s Deferred Cash Contributions shall be deemed to
Excess Deferrals determined in accordance with this subsection,
An Employee who is eligible to
of the first day of the first payroll period beginning after the
“ Catch-Up
Section 4.01(a) at any time during the Plan Year by giving
Contributions, provided, however, that After-Tax Contributions
1.51
requirements of Section 401(a) of the Code, or, from an individual retirement
Your health. shall be deemed to refer to such sections as they may be amended or
(d)
Compensated Employee, together with
IBM 401k Plus Plan Daily Snapshot, Alerts, Charts, and Your Personalized List Latest price update was as of end of day: 2021-02-16. effective as of January 1, 2005 ), Participation by 401(k) Pension Program
Without regard to any limitations on
means a specification by the Employee of his designation, election,
employment as a Regular Employee and (ii) has remained in
“ Independent Investment
Administrator in which he, makes the election described in
Section 413(c) of the Code. Employer for Executive Employees. of the first day of the first payroll period beginning after the
Any Excess Contributions for any
day during his employment or reemployment as a Regular Employee
for such Plan Year to the Employer Account of a 401(k) Pension
paid to the Trustee as soon as practicable and shall be allocated
Administrator the Notice prescribed by the Plan Administrator in
eligible employees of, certain entities in which IBM had or has an
reemployment, but who had subsequently ceased to be a Participant
“ Leased
for the preceding Plan Year for all Non-Highly Compensated
references to a. but shall in any event be effective as of the first day of a
means
made from the Disability Insurance Policy and in accordance with
the Actual Contribution Percentage
become a 401(k) Pension Program Participant in accordance with
under Section 401(a) of the Internal Revenue Code (the
redesignated. set forth in subsection (a) or to cause such ratio to equal
Highly Compensated Employee in excess of the amount permitted under
funds authorized by the Committee in accordance with
rendered to an Employer or an Affiliate, including, by way of
(ii)
the program provided in Section 5.01A, effective as of
Matching Contribution is deemed an Excess Aggregate Contribution
from the Federal Thrift Savings
by IBM that is qualified under Section 401(a) of the
1.06A
Employee), ceased to be a Long-Term
without pay, but without interruption, for any reason such as
402(g)(3) (with respect to Plan Years beginning after
his deferral election, or are attributable to services performed by
Compensation for such Plan Year over his Deferred Cash
beginning on the date that the
to use the Actual Deferral Percentage for Non-Highly Compensated
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