We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

ADP Test Sample Clauses

ADP TestIf applicable, the ADP ratio for NHCEs will be based on the current year ratio unless prior year testing method is selected below (leave blank if current year testing method is being used):
AutoNDA by SimpleDocs
ADP Test. The Average Actual Deferral Percentage for Highly Compensated Employees for each Plan Year and the Average Actual Deferral Percentage for Nonhighly Compensated Employees for the same Plan Year must satisfy one of the following tests: (i) The Average Actual Deferral Percentage for Eligible Participants who are Highly Compensated Employees for the Plan Year shall not exceed the Average Actual Deferral Percentage for Eligible Participants who are Nonhighly Compensated Employees for the Plan Year multiplied by 1.25; or (ii) The Average Actual Deferral Percentage for Eligible Participants who are Highly Compensated Employees for the Plan Year shall not exceed the Average Actual Deferral Percentage for Eligible Participants who are Nonhighly Compensated Employees for the Plan Year multiplied by 2.0; provided that the Average Actual Deferral Percentage for Eligible Participants who are Highly Compensated Employees does not exceed the Average Actual Deferral Percentage for Participants who are Nonhighly Compensated Employees by more than two percentage points.
ADP Test. The ADP ratio for Nonhighly Compensated Employees will be based on the following: a. [ ] N/A. This Plan satisfies the ADP test safe harbor rules for all Participants for all Plan Years to which this Plan applies. b. [ ] Prior Year Testing Method. The prior year ratio will be used for Plan Years beginning on or after 1. [ ] N/A (Effective date of prior year testing is after effective date of Code Section 401(k) feature.) 2. [ ] 3% 3. [ ] the actual percentage for the initial Plan Year.
ADP Test. For each Plan Year, Elective Deferrals satisfy the ADP test if they satisfy either of the following tests:
ADP Test. The Actual Deferral Percentage test set forth in Section 3.4.2(B) which is used to determine the maximum amount of Highly Compensated Employee deferrals (generally, Pre-Tax Contributions and Xxxx Contributions) under the Plan.
ADP Test. As of the end of each Plan Year after Excess Elective Deferrals have been determined, the Plan must satisfy the ADP Test. The ADP Test shall be satisfied using the prior year testing method, unless we have elected in Item K(2)(a) to use the current year testing method.
ADP Test. The Average Actual Deferral Percentage for Highly Compensated Employees for each Plan Year and the Average Actual Deferral Percentage for Nonhighly Compensated Employees for the same Plan Year must satisfy one of the following tests:
AutoNDA by SimpleDocs
ADP Test. Each Plan Year a determination will be made whether the average of the Highly Compensated Employees' ADPs for that Plan Year, when compared to the average of the Nonhighly Compensated Employees' ADPs for the preceding Plan Year, satisfies either of the following tests: (1) the average of the ADPs for all Highly Compensated Employees is not more than 125% of the average of the ADPs for all Nonhighly Compensated Employees, or (2) the average of the ADPs for all Highly Compensated Employees is not more than two times the average of the ADPs for all Nonhighly Compensated Employees, and the excess of the average of the ADPs for all Highly Compensated Employees over the average of the ADPs for all Nonhighly Compensated Employees is not more than two percentage points. In performing the ADP Test for a Plan Year, the applicable averages will be calculated taking into account each Participant who was an Eligible Employee at any time during that Plan Year.
ADP TestThe term “ADP Test” means the Actual Deferral Percentage Test.
ADP Test. The ADP Test determines the maximum amount of Highly Compensated Employee ADP Contribution Amounts that can be made to the Plan in accordance with the non-discrimination requirements of Code Section 401(k). (1) Definitions.
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!