Common use of Actual Deferral Percentage (ADP) Clause in Contracts

Actual Deferral Percentage (ADP). For a specified group of Participants (either Highly Compensated Employees or Non-Highly Compensated Employees) for a Plan Year, the average of the ratios (calculated separately for each Participant in such group) of: (a) the amount of Employer contributions [as defined at (c) – (d)] actually contributed to the Trust on behalf of such Participant for the 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 or Xxxx Elective Deferrals (other than Catch-Up Contributions) made pursuant to the Participant’s Salary Deferral Agreement, including Excess Elective Deferrals or Xxxx Elective Deferrals of Highly Compensated Employees, but excluding Excess Elective Deferrals or Xxxx Elective Deferrals distributed to Non-Highly Compensated Employees and Elective Deferrals or Xxxx Elective Deferrals that are either taken into account in the Actual 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 (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.

Actual Deferral Percentage (ADP). For a specified group of Participants (either Highly Compensated Employees or Non-Highly Compensated Employees) for a Plan Year, the average of the ratios (calculated separately for each Participant in such group) of: (a) the amount of Employer contributions [as defined at (c) – — (d)] actually contributed to the Trust on behalf of such Participant for the 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 or Xxxx Elective Deferrals (other than Catch-Up Contributions) made pursuant to the Participant’s Salary Deferral Agreement, including Excess Elective Deferrals or Xxxx Elective Deferrals of Highly Compensated Employees, but excluding Excess Elective Deferrals or Xxxx Elective Deferrals distributed to Non-Highly Compensated Employees and Elective Deferrals or Xxxx Elective Deferrals that are either taken into account in the Actual 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 (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.

Actual Deferral Percentage (ADP). For a specified group of Participants (either Highly Compensated Employees or Non-Highly Compensated Employees) for a Plan Year, the average of the ratios (calculated separately for each Participant in such group) of: (a) the amount of Employer contributions [as defined at (c) – (d)] actually contributed to the Trust on behalf of such Participant for the 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 or Xxxx Rxxx Elective Deferrals (other than Catch-Up Contributions) made pursuant to the Participant’s Salary Deferral Agreement, including Excess Elective Deferrals or Xxxx Rxxx Elective Deferrals of Highly Compensated Employees, but excluding Excess Elective Deferrals or Xxxx Rxxx Elective Deferrals distributed to Non-Highly Compensated Employees and Elective Deferrals or Xxxx Rxxx Elective Deferrals that are either taken into account in the Actual 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 (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.