NEC

(redirected from Non-Elective Contribution)
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AcronymDefinition
NECNational Electrical Code
NECNippon Electric Company, Ltd. (Japan; now simply NEC)
NECNational Electric Code
NECNational Exhibition Centre
NECNortheast Conference
NECNecessary
NECNational Executive Committee (UK Labour Party)
NECNUS (National University of Singapore) Entrepreneurship Centre
NECNew England College (Henniker, NH)
NECNot Elsewhere Classified
NECNational Executive Council
NECNational Elections Commission
NECNortheast Corridor
NECNecrotizing Enterocolitis
NECNew Europe College (Romania)
NECNecromancer (Everquest)
NECNon-Executive Chairman (various companies)
NECNational Economic Council
NECNetwork Enterprise Center (US Army)
NECNew Engineering Contract (Institution of Civil Engineers; UK)
NECNot Even Close (band)
NECNational Energy Commission (various locations)
NECNortheast Corner (location in an intersection)
NECNational Electoral Council (various locations)
NECNational Examinations Council (Trinidad & Tobago)
NECNull Energy Condition (physics)
NECNational Essay Competition (various locations)
NECNippon Electronics Company
NECNueces Electric Cooperative (Robstown, TX)
NECNew England Conservatory of Music (since 1867; in Boston, Massachusetts)
NECNational Enzyme Company (Forsyth, MO)
NECNetwork Enabled Capability
NECNational Extension College (UK)
NECNavy Enlisted Classification
NECNanyang Executive Centre (Singapore)
NECNon-Employee Compensation
NECNational Equestrian Centre (various locations)
NECNursing Education Center (various locations)
NECNational Entitlement Card (smartcards; UK)
NECNet Explosive Content (fireworks)
NECNational Ethics Committee (various organizations)
NECNominations and Elections Committee
NECNiagara Escarpment Commission (Canada)
NECNew Energy Capital (Hanover, NH)
NECNew Embassy Compound
NECNursing Education Consortium (various locations)
NECNature Education Centre (Australia)
NECNumerical Electromagnetic Code
NECNederlands Elektrotechnisch Comite
NECNear Eastern Civilizations (various schools)
NECNome Eskimo Community (Nome, AK)
NECNot Even Considered
NECNew Energy Congress
NECNew England Council
NECNorthshore Education Consortium (Beverly, MA)
NECNorth Equatorial Current
NECNational Europe Centre
NECNational Episcopal Church
NECNear East Consulting (Ramallah, Palestine)
NECNeuroendocrine Convertase
NECNu Energy Collective
NECNational Entrepreneur Center (Orlando, FL)
NECNorth Eastern Coalfields (India)
NECNational Employment Council (Zimbabwe)
NECNuclear Energy Commission
NECNational Empowerment Center, Inc
NECNanoelectronics Conference (IEEE)
NECNecochea, Buenos Aires, Argentina - Necochea (Airport Code)
NECNon-Elective Contribution (to a qualified retirement plan)
NECNet Electric Charge
NECNational Ecology Center
NECNational Education Collaborative
NECNeuro Emotional Complexes
NECNorthern European Command
NECNortheast Center for Agricultural and Occupational Health
NECNavopache Electric Cooperative, Inc.
NECNew to Exporting Companies (Canada)
NECNuclear Energy Consultants, Inc (Rockville, MD)
NECNetwork Equipment Controller
NECNaval Exercise Coordinator
NECNo End-Item Calibration
NECNetwork Event Collector
NECNijmeegse Eendrachts Combinatie
NECNephrology Channel (website)
NECNetwork Enterprise Command
NECNational Environment Campaign
NECNascom Event Cancel
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References in periodicals archive ?
The second option is for the employer to provide a 2% non-elective contribution for all eligible employees; this means that even if an eligible employee does not contribute to the Simple IRA, that employee must still receive an employer contribution equal to 2% of compensation.
The 401(k) contributions, when converted from unused or forfeited PTO days, qualify as an employer non-elective contribution, thus allowing employees to contribute up to their annual maximum plus any catch-up contribution if they are over a specified age.
A 401(k) with a profit sharing contribution allows the profit sharing contribution to be used for cross-testing, and the plan sponsor can make a qualified non-elective contribution (QNEC) by vesting part or all of the profit sharing contributions if the plan fails actual deferral percentage (ADP) testing.
The plan can either make a qualified non-elective contribution for all eligible non-HCEs (3% or more of compensation, which can also be contributed for the HCEs) or offer qualified matching contributions (100% matching for the first 3% of elective contributions, and 50% matching on the next 2%, or some alternative matching formula at least as generous).
WH: The regulations and the statute state that correction may occur either way-bring up the lower paid through the qualified non-elective contribution or by distributing from the top paid.
Earnings on those deferrals and most qualified non-elective contributions (QNECs) and qualified matching contributions (QMACs), were excluded.
In addition, Nick can make employer non-elective contributions up to 25% of his compensation, as defined by the plan.
The owner can make elective-deferral contributions from compensation of up to $18,000 in 2015 ($24,000 for those 50 and up) as well as employer non-elective contributions. All contributions are capped at $53,000 in 2015.
That tax would bear (more or less) some relation to the cost the employer would pay under the current system to get low-paid participants to participate -- matching contributions, non-elective contributions, etc.
For employers with fewer than 25 employees, a new tax credit equal to 35 percent of non-elective contributions made by the employer is available.
The employer is required to either contribute 2% of the entire payroll (under a non-elective contributions formula) or match contributions of up to 3% of each employee's salary (under a matching formula).