Stock Bonus Plans cannot discriminate toward highly compensated employees, such as executives. Contributions to a stock bonus plan are discretionary. This is a “Stock Bonus” Plan, where the employer contributes company stock to an employee’s account.EMPLOYEE STOCK OWNERSHIP PLAN may include: It is important for an Alternate Payee to consult with a tax professional before making any transfers or withdrawals, in order to be fully informed as to any potential tax consequences arising from either the timing or nature of the transfer or withdrawal. The Alternate Payee may also choose to transfer the awarded funds to another tax qualified account of his/her choice – for example, to an Individual Retirement Account (IRA). This type of plan generally affords an Alternate Payee the ability to receive an immediate lump sum distribution (or withdrawal) upon approval of a QDRO. The Plan will establish a separate account for the Alternate Payee and will usually allow the Alternate Payee the opportunity to utilize investment opportunities that are available for other participants in the Plan. With this type of plan, the Alternate Payee is typically awarded a portion of the Participant's account balance as of a specific date, expressed as either a percentage, or as a specific dollar amount, by way of a Qualified Domestic Relations Order (QDRO). Some examples of this type of plan are 401(k), 401(a), Employee Stock Ownership Plan (ESOP), Savings Plans and Profit-Sharing Plans. This type of Plan generally establishes an account for each individual Participant where a defined amount is being contributed by the Participant, the employer or both. EMPLOYEE STOCK OWNERSHIP PLAN is a DEFINED CONTRIBUTION PLAN. Please contact Caliber for additional details.CALIBRE SYSTEMS, INC. Payment may be subject to reporting for tax purposes. Available only through the Caliber Retail Channel. LTV and property type restrictions may apply. Other requirements include: Minimum 700 credit score, owner occupied purchase transaction. Offer requires 30 business days from Caliber’s receipt of purchase contract to closing date. Void if there are any material changes to income or assets. ****Caliber agrees to pay the borrower the amount of the earnest money deposit (up to $5,000) following the home loan closing, if the loan does not close on or before the contract closing date due to a delay caused by Caliber. Please contact Caliber for additional details. All rate lock extensions are subject to Caliber’s standard rate lock extension fees All rate lock extensions are subject to Caliber’s standard rate lock extension fees. Once you identify a property, your rate will be locked for an additional 45 days. Your rate is protected for up to 30 days to shop for a home. ***The lock will be honored up to 75 days total. Not all products are available in all states or for all dollar amounts. All products are subject to credit and property approval. Actual terms, including interest rate, are subject to change without prior notice and may vary based on eligibility criteria. **A pre-approval does not signify that all underwriting requirements have been met. Any portion of the discount amount not used toward closing costs will be waived. Advertised discount can only be applied toward payment of closing costs up to a total amount of $1,000 subject to product underwriting guidelines. The offer is nontransferable and can only be used by the intended recipient. Only available for single family primary residences and existing Caliber customers. *Closing cost offer available to customers who apply for a new purchase loan.
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