Common use of Across Employer lines Clause in Contracts

Across Employer lines. To all Participants regardless of which Employer directly employs them and regardless of whether their direct Employer made Nonelective Contributions for the Plan Year. [Note: Unless the Plan is a Multiple Employer Plan, the Employer should not elect 28(g) unless there are Related Employers which are also Participating Employers. See Section 1.24(D) and Election 27(d). If the Employer elects 28(g)(2)a., the Employer should also elect 11(k)(2), to disregard the Compensation paid by "Y" Participating Employer in determining the allocation of the "X" Participating Employer contribution to a Participant (and vice versa) who receives Compensation from both X and Y. If the Employer elects 28(g)(2)b., the Employer should not elect 11(k)(2). Election 28(g)(2)a. does not apply to Safe Harbor Nonelective Contributions.]

Appears in 4 contracts

Samples: Adoption Agreement (Fossil Group, Inc.), 401(k) Savings and Retirement Plan Amendment (Penske Automotive Group, Inc.), Adoption Agreement (Connecticut Water Service Inc / Ct)

AutoNDA by SimpleDocs

Across Employer lines. To all Participants regardless of which Employer directly employs them and regardless of whether their direct Employer made Nonelective Contributions for the Plan Year. [Note: Unless the Plan is a Multiple Employer Plan, the The Employer should not elect 28(g) unless there are Related Employers which are also Participating Employers. See Section 1.24(D1.23(D) and Election 27(d). If the Employer elects 28(g)(2)a., the Employer should also elect 11(k)(2)11(b)(8)b., to disregard the Compensation paid by "Y" Participating Employer in determining the allocation of the "X" Participating Employer contribution to a Participant (and vice versa) who receives Compensation from both X and Y. If the Employer elects 28(g)(2)b., the Employer should not elect 11(k)(2)11(b)(8)b. Election 28(g)(2)a. does not apply to Safe Harbor Nonelective Contributions.]

Appears in 4 contracts

Samples: 401(k) Profit Sharing Plan (Nci Building Systems Inc), 401(k) Plan Amendment (Premiere Global Services, Inc.), Adoption Agreement (Finisar Corp)

AutoNDA by SimpleDocs

Across Employer lines. To all Participants regardless of which Employer directly employs them and regardless of whether their direct Employer made Nonelective Contributions for the Plan Year. [Note: Unless the Plan is a Multiple Employer Plan, the The Employer should not elect 28(g) unless there are Related Employers which are also Participating Employers. See Section 1.24(D1.23(D) and Election 27(d). If the Employer elects 28(g)(2)a., the Employer should also elect 11(k)(2)11(b)(8)b., to disregard the Compensation paid by "Y" Participating Employer in determining the allocation of the "X" Participating Employer contribution to a Participant (and vice versa) who receives Compensation from both X and Y. If the Employer elects 28(g)(2)b., the Employer should not elect 11(k)(2)11(b)(8)b. Election 28(g)(2)a. does not apply to Safe Harbor Nonelective Contributions.]

Appears in 2 contracts

Samples: 401(k) Plan Adoption Agreement (Knowles Corp), 401(k) Profit Sharing Plan Adoption Agreement (Simpson Manufacturing Co Inc /Ca/)

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