Additional Discretionary Matching Contribution. An Employer may elect in the Adoption Agreement for Plan Years [beginning after January 1, 2000] 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 7 contracts
Samples: Defined Contribution Plan (Century Bancorp Inc), Defined Contribution Plan (Chicopee Bancorp, Inc.), Defined Contribution Plan (FNB United Corp.)
Additional Discretionary Matching Contribution. An Employer may elect in the Adoption Agreement for Plan Years [beginning after January 1, 2000] to provide an additional discretionary Matching Contribution. Any such contribution cannot exceed 4% of a Participant’s '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 3 contracts
Samples: Nonstandardized Adoption Agreement (Banctrust Financial Group Inc), Nonstandardized Adoption Agreement (Banctrust Financial Group Inc), Defined Contribution Plan (Thomasville Bancshares Inc)
