Allocation Accrual Requirements. No Hours of Service or last day requirement may be imposed on any Employer contribution that is subject to the Safe Harbor Plan rules. x 1. There are no allocation requirements for Participants to receive any contribution made to the Plan; however, a Participant must have received Compensation from the Employer to be entitled to an allocation of contributions.
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Samples: Defined Contribution Plan (ASB Bancorp Inc), Nonstandardized Adoption Agreement (United Community Bancorp), Defined Contribution Plan (Fraternity Community Bancorp Inc)
Allocation Accrual Requirements. No Hours of Service or last day requirement may be imposed on any Employer contribution that is subject to the Safe Harbor Plan rules.
x 1. There are no allocation requirements for Participants to receive any contribution made to the Plan; however, a Participant must have received Compensation from the Employer to be entitled to an allocation of contributions.
Appears in 2 contracts
Samples: Defined Contribution Plan (Savannah Bancorp Inc), Savings and Investment Plan Document (Sterling Chemicals Inc)
Allocation Accrual Requirements. No Hours of Service or last day requirement may be imposed on any Employer contribution that is subject to the Safe Harbor Plan rules.
x þ 1. There are no allocation requirements for Participants to receive any contribution made to the Plan; however, a Participant must have received Compensation from the Employer to be entitled to an allocation of contributions.
o 2. Employer contributions will be allocated to all Participants employed on the last day of the Plan Year regardless of hours worked.
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