Actual Deferral Percentage Test. All or part of the Qualified Nonelective Contributions and Qualified Matching Contributions made with respect to Participants may be treated as Salary Deferral Contributions for purposes of the Actual Deferral Percentage Test set forth in Section 3.05. Qualified Matching Contributions and Qualified Nonelective Contributions used to satisfy the Actual Deferral Percentage shall be disregarded for purposes of satisfying the Actual Contributions Percentage Tests set forth in Section 3.09. Qualified Nonelective Contributions and Qualified Matching Contributions used to satisfy the Actual Deferral Percentage Test shall be deemed Salary Deferral Contributions.
Appears in 2 contracts
Samples: Metals Usa Inc, Metals Usa Inc
Actual Deferral Percentage Test. All or part of the Qualified Nonelective Contributions and Qualified Matching Contributions made with respect to Participants may be treated as Salary Deferral Contributions for purposes of the Actual Deferral Percentage Test Tests set forth in Section 3.05. Qualified Matching Contributions and Qualified Nonelective Contributions used to satisfy the Actual Deferral Percentage shall be disregarded for purposes of satisfying the Actual Contributions Percentage Tests set forth in Section 3.09. Qualified Nonelective Contributions and Qualified Matching Contributions used to satisfy the Actual Deferral Percentage Test Tests shall be deemed Salary Deferral Contributions.
Appears in 2 contracts
Samples: Adoption Agreement (BRPP LLC), Adoption Agreement (Sonic Corp)
