Actual Contribution Percentage Sample Clauses

Actual Contribution Percentage. The ratio defined in Section 3.5(A)(1)(a) for purposes of the ACP Test.
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Actual Contribution Percentage. The ratio of (i) the ACP Contribution Xxxxxxx actually paid over to the Trust on behalf of a Participant who was an Active Participant at any time during the Plan Year to (ii) such Participant’s Testing Compensation for the Plan Year.
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Actual Contribution Percentage. (i) The Actual Contribution Percentage for Participating Employees who are Highly Compensated Employees for each Plan Year and the Actual Contribution Percentage for Participating Employees who are not Highly Compensated Employees for the same Plan Year must satisfy one of the following tests: (A) The Actual Contribution Percentage for Participating Employees who are Highly Compensated Employees for the Plan Year shall not exceed the Actual Contribution Percentage for Participating Employees who are not Highly Compensated Employees for the same Plan Year multiplied by 1.25; or (B) The Actual Contribution Percentage for Participating Employees who are Highly Compensated Employees for the Plan Year shall not exceed the Actual Contribution Percentage for Participating Employees who are not Highly Compensated Employees for the same Plan Year multiplied by two (2), provided that the Actual Contribution Percentage for Participating Employees who are Highly Compensated Employees does not exceed the Actual Contribution Percentage for Participating Employees who are not Highly Compensated Employees by more than two (2) percentage points. (ii) If one or more Highly Compensated Employees participate in both a cash or deferred arrangement and a plan subject to the Actual Contribution Percentage test maintained by the Employer and the sum of the Actual Deferral Percentage and the Actual Contribution Percentage of those Highly Compensated Employees subject to either or both tests exceeds the Aggregate Limit, then the Actual Contribution Percentage of those Highly Compensated Employees who also participate in a cash or deferred arrangement will be reduced (beginning with such Highly Compensated Employee whose Actual Contribution Percentage is the highest) so that the limit is not exceeded. The amount by which each Highly Compensated Employee's Contribution Percentage Amount is reduced shall be treated as an Excess Aggregate Contribution. The Actual Deferral Percentage and the Actual Contribution Percentage of the Highly Compensated Employees are determined after any corrections required to meet the Actual Deferral Percentage and the Actual Contribution Percentage tests. Multiple use does not occur if both the Actual Deferral Percentage and the Actual Contribution Percentage of the Highly Compensated Employees does not exceed 1.25 multiplied by the Actual Deferral Percentage and the Actual Contribution Percentage of the Participating Employees who are not Highly Compensat...
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Actual Contribution Percentage. The term “Actual Contribution Percentage” means, for a specified group of Participants (either Highly Compensated Employees or Non-Highly Compensated Employees) for a Plan Year, the average of the Contribution Percentages of the “Eligible Participants” in a group. An Actual Contribution Percentage for a specified group of Participants will be calculated to the nearest hundredth of a percentage point. For purposes of this definition, the term “Eligible” Participant” means any Employee (either a Highly Compensated Employee or a Non-Highly Compensated Employee) who is eligible (a) to make a Voluntary Employee Contribution, (b) to make a Mandatory Employee Contribution, (c) to make an Elective Deferral (if the Sponsoring Employer takes such Elective Deferrals into account in the calculation of the Contribution Percentage), (d) to receive a Matching Contribution (including Forfeitures that are contingent upon the Participant making Elective Deferrals or Employee Contributions), or (e) to receive a Qualified Matching Contribution. If an Employee Contribution is required as a condition of participation in the Plan, then any Employee who would be a Participant if such Employee made such a contribution will be treated as an “Eligible Participant” on behalf of whom no Employee Contributions are made.
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Actual Contribution Percentage. The "Actual Contribution Percentages" for the Highly Compensated Participant Group and the Standard Participant Group shall be the average of the ratios (calculated separately for each Employee in each group) of the amount of the voluntary after-tax contributions made by such Employee in the group for the relevant Plan Year to such Employee's Earnings for such Plan Year.
Sample 1
Actual Contribution Percentage. (i) The term “Actual Contribution Percentage” (“ACP”) shall mean the average of the ratios (expressed as a percentage), calculated separately for each Participant, of the amount contributed as Employer matching contributions to the Trust on behalf of each such Participant for a Plan Year plus Employee contributions made by such Participant for a Plan Year to the Participant’s Compensation but excluding Employer matching contributions that are forfeited either to correct Excess Aggregated Contributions or because the contributions to which they relate are Excess Deferrals, Excess Contributions, or Excess Aggregated Contributions and excluding any Employee contributions made pursuant to Section 3.2.
Sample 1
Actual Contribution Percentage. The Actual Contribution Percentage means, with respect to Highly Compensated Employees, the average of the Actual Contribution Ratios calculated separately for each Highly Compensated Employee. A similar Actual Contribution Percentage shall be calculated for eligible Nonhighly Compensated Employees by taking the average of the Actual Contribution Ratio for each eligible Nonhighly Compensated Employee. The Actual Contribution Ratio means the sum of Matching Contributions and Qualified Nonelective Contributions that are treated as Matching Contributions by the Employer divided by the Participant’s Testing Compensation. For Plan Years beginning after December 31, 1988, such calculation shall be to the nearest one-hundredth of one percent. If a Highly Compensated Employee is eligible to participate in more than one 401(m) arrangement of the same Employer, the Actual Contribution Percentage shall be calculated by treating all such 401(m) arrangements which are part of an employee stock ownership plan described in Section 4975(e)(7) or 409 of the Code as one arrangement and by treating all other 401(m) arrangements as a separate arrangement. For Plan Years beginning after December 31, 1988, if a Highly Compensated Employee participates in two or more 401(m) arrangements which have different plan years, all such arrangements ending with or within the same calendar year which are required to be aggregated shall be treated as a single arrangement. A 401(m) arrangement which consists of contributions which are not designed to be invested primarily in Qualifying Employer Securities and Employer Securities shall be considered a separate plan which is not an employee stock ownership plan.
Sample 1
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Actual Contribution Percentage. For purposes of this Section 4.10, the Actual Contribution Percentage for a Plan Year or the prior Plan Year as determined by the Plan Administrator in accordance with the Code and Treasury Regulations means, with respect to all Highly Compensated Employees and all Nonhighly Compensated Employees who were eligible to contribute Section 401(k) Contributions, and all who would be eligible to receive an allocation of a Matching Contribution pursuant to Section 4.10, whether or not such Employee elected to make Section 401(k) Contributions pursuant to Section 4.10, the average of the ratios, calculated separately for each Participant in each group, of Matching Contributions and forfeitures allocated to the Participant’s Matching Contribution Account for such Plan Year to such Participant’s 415 Compensation for such Plan Year. Matching Contributions that are forfeited due to either the return of Section 401(k) Contributions in excess of the maximum deferral Amount or the distribution of Section 401(k) Contributions in accordance with Section 4.1 shall not be included when calculating the ratio for each Nonhighly Compensated Employee. Matching Contributions that are forfeited shall not be included when calculating the ratio for each Highly Compensated Employee. Matching Contributions that are forfeited due to the return of Section 401(k) Contributions in excess of the maximum deferral amount or due to amounts returned pursuant to Section 4.1 shall not be included when calculating the ratio for each Highly Compensated Employee. (A) If the Plan satisfies the requirements of Sections 401(m), 401(a)(4) or 410(b) of the Code only if aggregated with one or more other plans, or if one or more plans satisfy such requirements only if aggregated with this Plan, then such other plans shall be aggregated with this Plan for purposes of computing the Actual Contribution Percentages and for determining whether the nondiscrimination rules of this Section 4.1 are satisfied. Plans may be aggregated hereunder only if they have the same plan year. Plans that apply inconsistent Actual Contribution Percentage testing methods may not be aggregated hereunder. (B) For purposes of computing the separate ratio for any Highly Compensated Employee, all plans described in Section 401(a) of the Code or arrangements described in Section 401(k) of the Code of the Employer (and other employers taken into account under Section 414 of the Code) in which such Highly Compensated Employee is a partic...
Sample 1
Actual Contribution Percentage. The term “Actual Contribution Percentage” (“ACP”) shall mean the average of the ratios (expressed as a percentage), calculated separately for each Participant, of the amount contributed as Employer matching contributions to the Trust on behalf of each such Participant for a Plan Year plus Employee contributions made by such Participant for a Plan Year to the Participant’s Compensation (including deferred salary contributions under any tax-qualified plan described in Code section 401(a) or any cafeteria plan described in Code Section 125).
Sample 1

Related to Actual Contribution Percentage

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Contribution Amounts The Sellers and the Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 8 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 8.7. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 8, no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.

  • Mutual Contribution The parties to this Agreement and their counsel have mutually contributed to its drafting. Consequently, no provision of this Agreement shall be construed against any party on the ground that a party drafted the provision or caused it to be drafted.

  • Original Class A Percentage The Original Class A Percentage is 96.09547893%

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04. PART I. [OPTIONS (a) THROUGH (d)].

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.

  • Total Contract Amount The contract total shall not exceed $350,000. Pricing shall be per Exhibit E attached.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains the existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation. 2. If the employee chooses to vacate the position or does not meet the skills and abilities requirements of the position, the layoff procedure specified in Article 31 of this Agreement applies.

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