Common use of ACP Test Safe Harbor Clause in Contracts

ACP Test Safe Harbor. The Employer maintaining a 401(k) Plan may elect in the Adoption Agreement to make additional Matching Contributions in addition to the Safe Harbor Matching Contributions made to the Plan. These additional Matching Contributions may be subject to the ACP Test Safe Harbor requirements instead of testing the contributions under paragraph 11.2. If the Employer elects using the current year testing method to test the additional Matching Contributions for nondiscrimination as set forth in paragraph 11.2, the ACP Test Safe Harbor will be satisfied if the following conditions are met: (a) no Matching Contribution may be made with respect to a Participant’s Elective Deferrals and/or Voluntary After-tax Contributions which exceed 6% of Compensation; (b) the amount of any discretionary Matching Contribution made after the 1999 Plan Year may not exceed 4% of the Participant’s Compensation; (c) the rate of Matching Contributions made to the Plan may not increase as the rate of Elective Deferrals increase; (d) no Highly Compensated Employee may receive a greater rate of match than a Non-Highly Compensated Employee; and (e) the Employer must elect in the Adoption Agreement the vesting schedule distribution restrictions and eligibility to receive an allocation of these additional Matching Contributions.

ACP Test Safe Harbor. The Employer maintaining a 401(k) Plan may elect in the Adoption Agreement to make additional Matching Contributions in addition to the Safe Harbor Matching Contributions made to the Plan. These additional Matching Contributions may be subject to the ACP Test Safe Harbor requirements instead of testing the contributions under paragraph 11.2. If the Employer elects using the current year testing method to test the additional Matching Contributions for nondiscrimination as set forth in paragraph 11.2, the ACP Test Safe Harbor will be satisfied if the following conditions are met: (a) no Matching Contribution may be made with respect to a Participant’s 's Elective Deferrals and/or Voluntary After-tax Contributions which exceed 6% of Compensation; (b) the amount of any discretionary Matching Contribution made after the 1999 Plan Year may not exceed 4% of the Participant’s 's Compensation; (c) the rate of Matching Contributions made to the Plan may not increase as the rate of Elective Deferrals increase; (d) no Highly Compensated Employee may receive a greater rate of match than a Non-Highly Compensated Employee; and (e) the Employer must elect in the Adoption Agreement the vesting schedule distribution restrictions and eligibility to receive an allocation of these additional Matching Contributions.

ACP Test Safe Harbor. The Employer maintaining a 401(k) Plan may elect in the Adoption Agreement to make additional Matching Contributions in addition to the Safe Harbor Matching Contributions made to the Plan. These additional Matching Contributions may be subject to the ACP Test Safe Harbor requirements instead of testing the contributions under paragraph 11.2. If the Employer elects using the current year testing method to test the additional Matching Contributions for nondiscrimination as set forth in paragraph 11.2, the ACP Test Safe Harbor will be satisfied if the following conditions are met: (a) no Matching Contribution may be made with respect to a Participant’s Elective Deferrals and/or Voluntary After-tax Contributions which exceed 6% of Compensation; (b) ; the amount of any discretionary Matching Contribution made after the 1999 Plan Year may not exceed 4% of the Participant’s Compensation; (c) the rate of Matching Contributions made to the Plan may not increase as the rate of Elective Deferrals increase; (d) no Highly Compensated Employee may receive a greater rate of match than a Non-Highly Compensated Employee; and (e) the Employer must elect in the Adoption Agreement the vesting schedule distribution restrictions and eligibility to receive an allocation of these additional Matching Contributions.

ACP Test Safe Harbor. The Employer maintaining a 401(k) Plan may elect in the Adoption Agreement to make additional Matching Contributions in addition to the Safe Harbor Matching Contributions made to the Plan. These additional Matching Contributions may be subject to the ACP Test Safe Harbor requirements instead of testing the contributions under paragraph 11.2. If the Employer elects using the current year testing method to test the additional Matching Contributions for nondiscrimination as set forth in paragraph 11.2, the ACP Test Safe Harbor will be satisfied if the following conditions are met:: . (a) no Matching Contribution may be made with respect to a Participant’s Elective Deferrals and/or Voluntary After-tax Contributions which exceed 6% of Compensation;; . (b) the amount of any discretionary Matching Contribution made after the 1999 Plan Year may not exceed 4% of the Participant’s Compensation;; . (c) the rate of Matching Contributions made to the Plan may not increase as the rate of Elective Deferrals increase;; . (d) no Highly Compensated Employee may receive a greater rate of match than a Non-Highly Compensated Employee; andand . (e) the Employer must elect in the Adoption Agreement the vesting schedule distribution restrictions and eligibility to receive an allocation of these additional Matching Contributions.