Additional Discretionary Matching Contribution. An Employer may elect in the Adoption Agreement to provide an additional discretionary Matching Contribution. Any such contribution cannot exceed 4% of a Participant’s Compensation. This is a limit on the total Matching Contribution formula, and is not a limit on the percentage of Compensation which is deferred and taken into account under the matching formula.
Appears in 11 contracts
Samples: Prototype Defined Contribution Plan, Prototype Defined Contribution Plan, Prototype Defined Contribution Plan (1st Constitution Bancorp)
