ANNUAL TESTING ELECTIONS Sample Clauses

ANNUAL TESTING ELECTIONS. (4.06(B)). The Employer makes the following Plan specific annual testing elections under Section 4.06(B). (Complete (a) and (b) as applicable. Leave (a) blank if the Plan is a SIMPLE 401(k) plan.):
AutoNDA by SimpleDocs
ANNUAL TESTING ELECTIONS. The Plan Administrator may elect to test for coverage and nondiscrimination by applying, as applicable, annual testing elections under this Section 4.06.
ANNUAL TESTING ELECTIONS. (4.06(B)). The Employer makes the following Plan specific annual testing elections under Section 4.06(B). (Complete (a) and (b)): (a) Nondiscrimination testing. (Choose one of (1) or (2)): (1) [ ] No ACP test. The Plan does not permit Employee (1) (2) Effective as of execution Changes post-execution (2) [ ] ACP test. The Plan permits Employee Contributions and may also permit Matching Contributions. The following testing method applies (Choose one of a. or b.): a. [ ] Current Year Testing. See Section 4.11(E). [ ] [ ] Effective Date(s): b. [ ] Prior Year Testing. See Sections 4.10(C)(5)(e)(iv) [ ] [ ] Effective Date(s): and 4.11(I).
ANNUAL TESTING ELECTIONS. 06(B); 1.39). The Employer makes the following annual testing elections under Section 4.06(B). These elections under (a) and (b) are effective for the Plan Years indicated and remain in effect until the Employer amends the Plan (Church Plans, Governmental Plans and Plans intending to use the ERISA Safe Harbor Exemption do not need to complete Election 33. All other Plans must complete (a) and choose (b) and/or (c) if applicable):
ANNUAL TESTING ELECTIONS. (4.06(B)). The Employer makes the following Plan specific annual testing elections under Section 4.06(B): Nondiscrimination testing. (Select one or more of (a), (b), and (c). Plans other than 401(k) plans should skip except select (a)(4) or (5) if the Plan permits Employee Contributions.): (a) [X] Traditional 401(k) Plan/ADP/ACP test. The following testing method(s) apply [Note: The Plan may "split test". For Current Year Testing, See Section 4.11(E). For Prior Year Testing, see Section 4.11(H) and, as to the first Plan Year, see Sections 4.10(B)(4)(f)(iv) and 4.10(C)(5)(e)(iv).] (1) [X] Current Year Testing. (2) [ ] Prior Year Testing. ACP Test (Select one of (3), (4), or (5)) (3) [ ] Not applicable. The Plan does not permit Matching Contributions or Employee Contributions and the Plan Administrator will not recharacterize Elective Deferrals as Employee Contributions for testing. (4) [X] Current Year Testing. (5) [ ] Prior Year Testing. (b) [ ] Safe Harbor Plan/No testing or ACP test only. (select one of (1) or (2)): (1) [ ] No testing. ADP test safe harbor applies and if applicable, ACP test safe harbor applies. If the Plan permits Employee Contributions, current year ACP testing will apply to Employee Contributions unless otherwise elected below (Choose a. if applicable.). a. [ ] Prior Year Testing applies to Employee Contributions. (2) [ ] ACP test only. ADP test safe harbor applies, but Plan will perform ACP test as follows (select one of a. or b.): a. [ ] Current Year Testing. b. [ ] Prior Year Testing. (c) [ ] Maybe notice (Election 30(b)). See Section 3.05(I).
ANNUAL TESTING ELECTIONS. (4.06(B)). The Employer makes the following Plan specific annual testing elections under Section 4.06(B). (Complete (a) and (b) as applicable.): (a) Nondiscrimination testing. (Choose one or more of (1) and (2).): (1) [ ] No ACP test. The Plan does not permit Employee Contributions or Matching Contributions. (2) [ ] ACP test. The Plan permits Employee Contributions and may also permit Matching Contributions. The following testing method applies (Choose one of a. or b.): a. [ ] Current Year Testing. b. [ ] Prior Year Testing. (b) [ ] HCE determination. The Top-Paid Group election and the calendar year data election are not used unless elected below (1) [ ] Top-paid group election applies. (2) [ ] Calendar year data election (fiscal year Plan only) applies.
ANNUAL TESTING ELECTIONS. (4.06(B)). The Employer makes the following Plan specific annual testing elections under Section 4.06(B). (Complete (a) and (b)): (1) Effective as of execution (and retroactively if restatement) (2) Changes post-execution (specify Plan Year Effective Date(s)) (a) Nondiscrimination testing. (Choose one or more of (1), (2), or (3)): (1) [X] Traditional 401(k) Plan/ADP/ACP test. The following testing method(s) apply (Choose a. and b. as applicable): [Note: The Plan may “split lest” for Plan Years commencing in 2005.] a. [X] Current Year Testing. See Section 4.11(E). Current Year Testing applies to the ADP/ACP tests as elected below (Choose one or both of (i) and (ii): (i) [X] ADP test. [X] [ ] Effective Date(s): (ii) [X] ACP test [X] [ ] Effective Date(s): [Note: The Employer may leave (ii) blank if the Plan does not permit Matching Contributions or Employee Contributions and the Plan Administrator will not recharacterize Elective Deferrals as Employee Contributions for testing.]
AutoNDA by SimpleDocs
ANNUAL TESTING ELECTIONS. (4.06(B)). The Employer makes the following Plan specific annual testing elections under Section 4.06(B). (Complete (a) and (b)): (a) Nondiscrimination testing. (Choose one or more of (1), (2), or (3)): (1) [ ] Traditional 401(k) Plan/ADP/ACP test. The following testing method(s) apply (Choose a. and b. as applicable): [Note: The Plan may "split test" for Plan Years commencing in 2005.] a. [ ] Current Year Testing. See Section 4.11(E). Current Year Testing applies to the ADP/ACP tests as elected below (Choose one or both of (i) and (ii)): (i) [ ] ADP test. [ ] [ ] Effective Date(s): (ii) [ ] ACP test. [ ] [ ] Effective Date(s):
ANNUAL TESTING ELECTIONS. ‌ (a) ACP Test/Safe Harbor (Choose (1), (2) or (3).):

Related to ANNUAL TESTING ELECTIONS

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Work Year The full-time work year for all employees employed in EA and ECE job classes shall be a minimum of 194 work days to correspond with the school year calendar.

  • Elective Deferrals Any Employer contributions made to the Plan at the election of the Participant, in lieu of cash compensation, and shall include contributions made pursuant to a salary reduction agreement or other deferral mechanism. With respect to any taxable year, a Participant's Elective Deferral is the sum of all employer contributions made on behalf of such Participant pursuant to an election to defer under any qualified cash or deferred arrangement as described in section 401(k) of the Code, any salary reduction simplified employee pension described in section 408(k)(6), any SIMPLE IRA Plan described in §408(p), , any plan as described under section 501(c)(18), and any employer contributions made on the behalf of a Participant for the purchase of an annuity contract under section 403(b) pursuant to a salary reduction agreement. Elective Deferrals shall not include any deferrals properly distributed as excess annual addition. For years beginning after 2005, the term “elective Deferrals” includes Pre-tax Elective Deferrals and Xxxx Elective Deferrals. Pre-tax Elective Deferrals are a participant’s Elective Deferrals that are not includible in the participant’s gross income at the time deferred. The Employer may, if notification is made within a reasonable time and in a manner described in IRS Revenue Ruling 2000-8, 2000-7 IRB617, allow for negative elections. If such administrative provision applies and the Employee does not affirmatively elect to not participate and the Employee does not affirmatively elect a different amount (including no amount), a default amount shall be deducted from the Employee’s Compensation. Such default amount shall be part of the initial notification received by the Employer. If negative elections apply under the Plan, the Employer shall indicate whether the default shall be a pre-tax Elective Deferral or a Xxxx Elective Deferral in the Adoption Agreement.

  • Year of Service An Employee must complete at least Hours of Service during a Vesting Computation Period to receive credit for a Year of Service under Article V. [Note: The number may not exceed 1,000. If left blank, the requirement is 1,000.]

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!