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Content Last Revised: 8/3/54
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CFR  

Code of Federal Regulations Pertaining to ESA

Title 29  

Labor

 

Chapter V  

Wage and Hour Division, Department of Labor

 

 

Part 547  

Requirements of A ``Bona Fide Thrift or Savings Plan''


29 CFR 547.2 - Disqualifying provisions.

  • Section Number: 547.2
  • Section Name: Disqualifying provisions.

    (a) No employee's participation in the plan shall be on other than a 
voluntary basis.
    (b) No employee's wages or salary shall be dependent upon or 
influenced by the existence of such thrift or savings plan or the 
employer's contributions thereto.
    (c) The amounts any employee may save under the plan, or the amounts 
paid by the employer under the plan may not be based upon the employee's 
hours of work, production or efficiency.
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