Common use of Actual Deferral Percentage Test Clause in Contracts

Actual Deferral Percentage Test. (a) In general. For each Plan Year, the total contributions to a Participant’s Salary Deferral Account shall satisfy one of the following tests pursuant to Code section 401(k)(3) and section 1.401(k)-1(b)(2) of the Regulations, which are herein incorporated by reference: (1) The Actual Deferral Percentage for the Highly Compensated Participant Group shall not be more than the Actual Deferral Percentage of the Nonhighly Compensated Participant Group multiplied by 1.25; or (2) The excess of the Actual Deferral Percentage for the Highly Compensated Participant Group over the Actual Deferral Percentage for the Nonhighly Compensated Participant Group shall not be more than two percentage points. Additionally, the Actual Deferral Percentage for the Highly Compensated Participant Group shall not exceed the Actual Deferral Percentage for the Nonhighly Compensated Participant Group multiplied by 2.

Actual Deferral Percentage Test. (a) In general. For each Plan Year, the total contributions to a Participant’s 's Salary Deferral Account shall satisfy one of the following tests pursuant to Code section 401(k)(3) and section 1.401(k)-1(b)(2) of the Regulations, which are herein incorporated by reference: (1) The Actual Deferral Percentage for the Highly Compensated Participant Group shall not be more than the Actual Deferral Percentage of the Nonhighly Compensated Participant Group multiplied by 1.25; or (2) The excess of the Actual Deferral Percentage for the Highly Compensated Participant Group over the Actual Deferral Percentage for the Nonhighly Compensated Participant Group shall not be more than two percentage points. Additionally, the Actual Deferral Percentage for the Highly Compensated Participant Group shall not exceed the Actual Deferral Percentage for the Nonhighly Compensated Participant Group multiplied by 2.

Actual Deferral Percentage Test. (a) In general. For each Plan Year, the total contributions Elective Deferrals contributed to a Participant’s Salary Deferral Account and Xxxx 401(k) Account shall satisfy one of the following tests pursuant to Code section 401(k)(3) and section 1.401(k)-1(b)(2) of the Regulations, which are herein incorporated by reference: (1) The Actual Deferral Percentage for the Highly Compensated Participant Group shall not be more than the Actual Deferral Percentage of the Nonhighly Compensated Participant Group multiplied by 1.25; or (2) The excess of the Actual Deferral Percentage for the Highly Compensated Participant Group over the Actual Deferral Percentage for the Nonhighly Compensated Participant Group shall not be more than two percentage points. Additionally, the Actual Deferral Percentage for the Highly Compensated Participant Group shall not exceed the Actual Deferral Percentage for the Nonhighly Compensated Participant Group multiplied by 2.