¨ ACP Safe Harbor Mandatory Tiered Matching Contributions. The Employer must make an ACP Safe Harbor Mandatory Tiered Matching Contribution for each Safe Harbor Participant equal to the amount determined below, provided the ratio of Matching Contributions for a Safe Harbor Participant to his or her Elective Deferrals and Employee Contributions does not increase as the amount of his or her Elective Deferrals and Employee Contributions increases. In no event can Elective Deferrals that exceed 6% of Compensation for the Allocation Period be matched. (Note: The blanks must be completed so that, at any rate of Elective Deferrals, the rate of Matching Contributions cannot increase as Elective Deferrals increase.) ¨ 1st tier % of Elective Deferrals that do not exceed % of Compensation ¨ 2nd tier % of Elective Deferrals that exceed % but not % of Compensation ¨ 3rd tier % of Elective Deferrals that exceed % but not % of Compensation ¨ 4th tier % of Elective Deferrals that exceed % but not % of Compensation
Appears in 3 contracts
Samples: 401(k) Non Standardized Prototype Adoption Agreement (Western Digital Corp), 401(k) Non Standardized Prototype Adoption Agreement (Enpro Industries, Inc), 401(k) Non Standardized Prototype Adoption Agreement (Enpro Industries, Inc)
¨ ACP Safe Harbor Mandatory Tiered Matching Contributions. The Employer must make an ACP Safe Harbor Harbor. Mandatory Tiered Matching Contribution for each Safe Harbor Participant equal to the amount determined below, provided the ratio of Matching Contributions for a Safe Harbor Participant to his or her Elective Deferrals and Employee Contributions does not increase as the amount of his or her Elective Deferrals and Employee Contributions increases. In no event can Elective Deferrals that exceed 6% of Compensation for the Allocation Period be matched. (Note: The blanks must be completed so that, at any rate of Elective Deferrals, the rate of Matching Contributions cannot increase as Elective Deferrals increase.) ¨ 1st tier % of Elective Deferrals that do not exceed % of Compensation ¨ 2nd tier % of Elective Deferrals that exceed % but not % of Compensation ¨ 3rd tier % of Elective Deferrals that exceed % but not % of Compensation ¨ 4th tier % of Elective Deferrals that exceed % but not % of Compensation
Appears in 1 contract
Samples: 401(k) Adoption Agreement (Pacific Capital Bancorp /Ca/)
