Common use of Allocation of Qualified Nonelective Contributions Clause in Contracts

Allocation of Qualified Nonelective Contributions. If the Employer has elected to use Current Year Testing, then on behalf of each Nonhighly Compensated Participant, the Employer may, at its sole discretion, make a Qualified Nonelective Contribution equal a percentage between 0% to 10% of each eligible individual’s Compensation, the exact percentage to be determined each year by the Employer.

Allocation of Qualified Nonelective Contributions. If the Employer has elected to use Current Year Testing, then on behalf of each Nonhighly Compensated Participant, the Employer may, at its sole discretion, make a Qualified Nonelective Contribution equal a percentage between 0% to 10% of each eligible individual’s 's Compensation, the exact percentage to be determined each year by the Employer.

Allocation of Qualified Nonelective Contributions. If the Employer has elected to use Current Year Testing, then on behalf of each any Nonhighly Compensated Participant, the Employer may, at its sole discretion, make a Qualified Nonelective Contribution equal a percentage between 0that does not exceed the product of the Nonhighly Compensated Participant’s compensation and the greater of 5% to 10% of each eligible individualor two times the Plan’s Compensation, the exact percentage to be determined each year by the EmployerRepresentative Contribution Rate.