Actual Deferral Percentage (ADP). The ratio (expressed as a percentage and calculated separately for each Participant) of: (a) the amount of Employer contributions [as defined at (c) – (d)] actually contributed to the Trust on behalf of such Participant for a Plan Year, to (b) the Participant’s Compensation for such Plan Year. [Unless otherwise specified in the Adoption Agreement, Compensation will only include amounts received for the period during which the Employee was eligible to participate.] Employer contributions on behalf of any Participant shall include: (c) any Elective Deferrals made pursuant to the Participant’s Salary Deferral Agreement, including Excess Elective Deferrals of Highly Compensated Employees, but excluding Excess Elective Deferrals distributed to Non-Highly Compensated Employees and Elective Deferrals that are either taken into account in the Contribution Percentage test (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals) or are returned as excess Annual Additions, (d) at the election of the Employer, Qualified Non-Elective Contributions and Qualified Matching Contributions. For purposes of computing Actual Deferral Percentages, an eligible Employee who fails to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.
Appears in 5 contracts
Samples: Defined Contribution Plan (Chicopee Bancorp, Inc.), Defined Contribution Plan (FNB United Corp.), Defined Contribution Plan (Idt Corp)
Actual Deferral Percentage (ADP). The ratio For a specified group of Participants for a Plan Year, the average of the ratios (expressed as a percentage and calculated separately for each ParticipantParticipant in such group) of:
of (a) the amount of Employer contributions [as defined at (c) – (d)] actually contributed paid over to the Trust trust on behalf of such Participant for a the Plan Year, to
Year to (b) the Participant’s 's Compensation for such Plan Year. [Unless otherwise specified in the Adoption Agreement, Compensation will only include amounts received for the period during which Year (whether or not the Employee was eligible to participate.] a Participant for the entire Plan Year). Employer contributions Contributions on behalf of any Participant shall include:
: (ca) any Elective Deferrals made pursuant to the Participant’s Salary Deferral Agreement's deferral election, including Excess Elective Deferrals of Highly Compensated Employees, but excluding (1) Excess Elective Deferrals distributed to Non-Highly of Nonhighly Compensated Employees that arise solely from Elective Deferrals made under the plan or plans of this Employer and (2) Elective Deferrals that are either taken into account in the Contribution Percentage test (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals) or are returned as excess Annual Additions,
); and (d3) at the election of the Employer, Qualified Non-Elective elective Contributions and Qualified Matching Contributions. For purposes of computing Actual Deferral Percentages, an eligible Employee who fails would be a Participant but for the failure to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.
Appears in 3 contracts
Samples: Individual 401(k) Plan Purchase Agreement, Employer Sponsored Plan Account Agreement, Employer Sponsored Plan Account Agreement
Actual Deferral Percentage (ADP). The ratio (expressed as a percentage and calculated separately for each Participant) of:
(a) the amount of Employer contributions [as defined at (c) – - (d)] actually contributed to the Trust on behalf of such Participant for a Plan Year, to
(b) the Participant’s 's Compensation for such Plan Year. [Unless otherwise specified in the Adoption Agreement, Compensation will only include amounts received for the period during which the Employee was eligible to participate.] Employer contributions on behalf of any Participant shall include:
(c) any Elective Deferrals made pursuant to the Participant’s 's Salary Deferral Agreement, including Excess Elective Deferrals of Highly Compensated Employees, but excluding Excess Elective Deferrals distributed to Non-Highly Compensated Employees and Elective Deferrals that are either taken into account in the Contribution Percentage test (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals) or are returned as excess Annual Additions,
(d) at the election of the Employer, Qualified Non-Elective Contributions and Qualified Matching Contributions. For purposes of computing Actual Deferral Percentages, an eligible Employee who fails to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.
Appears in 2 contracts
Samples: Nonstandardized Adoption Agreement (Felcor Lodging Trust Inc), Defined Contribution Plan (Thomasville Bancshares Inc)
Actual Deferral Percentage (ADP). The ratio (expressed as a percentage and calculated separately for each Participant) of:
(a) the amount of Employer contributions [as defined at (c) – - (d)] actually contributed to the Trust on behalf of such Participant for a Plan Year, to
(b) the Participant’s Compensation for such Plan Year. [Unless otherwise specified in the Adoption Agreement, Compensation will only include amounts received for the period during which the Employee was eligible to participate.] Employer contributions on behalf of any Participant shall include:
(c) any Elective Deferrals made pursuant to the Participant’s Salary Deferral Agreement, including Excess Elective Deferrals of Highly Compensated Employees, but excluding Excess Elective Deferrals distributed to Non-Highly Compensated Employees and Elective Deferrals that are either taken into account in the Contribution Percentage test (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals) or are returned as excess Annual Additions,
(d) at the election of the Employer, Qualified Non-Elective Contributions and Qualified Matching Contributions. For purposes of computing Actual Deferral Percentages, an eligible Employee who fails to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.
Appears in 1 contract
Samples: 401(k) Defined Contribution Plan (Measurement Specialties Inc)
Actual Deferral Percentage (ADP). The ratio (expressed as a percentage and calculated separately for each Participant) of:
(a) the amount of Employer contributions [as defined at (c) – — (d)] actually contributed to the Trust on behalf of such Participant for a Plan Year, to
(b) the Participant’s Compensation for such Plan Year. [Unless otherwise specified in the Adoption Agreement, Compensation will only include amounts received for the period during which the Employee was eligible to participate.] Employer contributions on behalf of any Participant shall include:
(c) any Elective Deferrals made pursuant to the Participant’s Salary Deferral Agreement, including Excess Elective Deferrals of Highly Compensated Employees, but excluding Excess Elective Deferrals distributed to Non-Highly Compensated Employees and Elective Deferrals that are either taken into account in the Contribution Percentage test (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals) or are returned as excess Annual Additions,
(d) at the election of the Employer, Qualified Non-Elective Contributions and Qualified Matching Contributions. For purposes of computing Actual Deferral Percentages, an eligible Employee who fails to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.
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Actual Deferral Percentage (ADP). The ratio (expressed as a percentage and calculated separately for each Participant) of:
(a) the amount of Employer contributions [as defined at (c) – -- (d)] actually contributed to the Trust on behalf of such Participant for a Plan Year, to
(b) the Participant’s 's Compensation for such Plan Year. [Unless otherwise specified in the Adoption Agreement, Compensation will only include amounts received for the period during which the Employee was eligible to participate.] Employer contributions on behalf of any Participant shall include:
(c) any Elective Deferrals made pursuant to the Participant’s 's Salary Deferral Agreement, including Excess Elective Deferrals of Highly Compensated Employees, but excluding Excess Elective Deferrals distributed to Non-Highly Compensated Employees and Elective Deferrals that are either taken into account in the Contribution Percentage test (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals) or are returned as excess Annual Additions,
(d) at the election of the Employer, Qualified Non-Elective Contributions and Qualified Matching Contributions. For purposes of computing Actual Deferral Percentages, an eligible Employee who fails to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.
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