ACP TESTING Sample Clauses

ACP TESTING. The ACP Test does NOT apply to this Governmental Plan.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
ACP TESTING. The ACP Test (if applicable) will be determined as selected below. (check one) x Current year testing ¨ Prior year testing ¨ Prior year testing for the first Plan Year and current year testing thereafter, subject to Section 1.5 of the Basic Plan
Sample 1Sample 2Sample 3See All (6)
ACP TESTING. (See Section 6.02 of the Plan.)
Sample 1Sample 2Sample 3See All (5)
ACP TESTING. Any Mandatory Employee Contributions made for a Plan Year must satisfy the ACP Test of Section 3.19 for a Plan Year. Mandatory Employee Contributions that do not satisfy the ACP Test will utilize the correction methods of such Section.
Sample 1Sample 2See All (4)
ACP TESTING. Non-Safe Harbor Matching Contributions made for a Plan Year must satisfy the ACP Test of Section 3.19 for a Plan Year. Non-Safe Harbor Matching Contributions that do not satisfy the ACP Test will utilize the correction methods of such Section.
Sample 1
ACP TESTING. The ACP Test will be performed using the Current Year Testing Method, unless designated otherwise under this AA §6B-6. (See Section 6.02(a) of the Plan.)
Sample 1
ACP TESTING. The ACP Test will be performed using the testing method designated below: (See Section 6.02(a) of the Plan.) [Note: If the Plan is a Safe Harbor 401(k) Plan (as designated in AA §6C below), the Plan must use the Current Year Testing Method. Thus, for any year the Plan is a Safe Harbor 401(k) Plan, the Current Year Testing Method applies, regardless of any selection under this §6B-6.]
Sample 1
AutoNDA by SimpleDocs

Related to ACP TESTING

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Qualified Nonelective Contributions If the Employer, at the time of contribution, designates a contribution to be a qualified nonelective contribution for the Plan Year, the Advisory Committee will allocate that qualified nonelective contribution to the Qualified Nonelective Contributions Account of each Participant eligible for an allocation of that designated contribution, as specified in Section 3.04 of the Employer's Adoption Agreement. The Advisory Committee will make the allocation to each eligible Participant's Account in the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all eligible Participants for the Plan Year. The Advisory Committee will determine a Participant's Compensation in accordance with the general definition of Compensation under Section 1.12 of the Plan, as modified by the Employer in Sections 1.12 and 3.06 of its Adoption Agreement.

  • Minimum Allocation If the Employer has adopted Sponsor's paired defined contribution plan number 01003, 01004, or 01006 in addition to this Plan and the definition of "Eligible Employee" in all paired plans is identical, then the minimum allocation required by Section 13.3 will be provided ( ) under this Plan; ( ) under such other paired defined contribution plan. If the Employer has adopted Sponsor's paired defined benefit plan number 02001, then Participants in this Plan (or another paired defined contribution plan) who are covered under the paired defined benefit plan shall receive the minimum top heavy benefit under the paired defined benefit plan and shall receive no minimum allocation. If a Participant in this Plan who is a Non-key Employee is covered under another qualified plan maintained by the Employer, other than a paired plan of the Sponsor, the minimum top heavy allocation or benefit required under Section 416 of the Code shall be provided to such Non-Key Employee under:

  • Limitation Year The Limitation Year is: (Choose (c) or (d)) [ x ] (c) The Plan Year. [ ] (d) The 12 consecutive month period ending every _____.

  • Hours of Service The minimum number of Hours of Service an Employee must complete during a vesting computation period to receive credit for a Year of Service is: (Choose (c) or (d)) [X] (c) 1,000 Hours of Service.

  • Highly Compensated Employee The term Highly Compensated Employee includes highly compensated active employees and highly compensated former employees.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Hardship Distribution Upon the Board of Director's determination (following petition by the Executive) that the Executive has suffered an unforeseeable financial emergency as described in Section 2.2.2, the Company shall distribute to the Executive all or a portion of the Deferral Account balance as determined by the Company, but in no event shall the distribution be greater than is necessary to relieve the financial hardship.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!