Automatic deferral election. Upon becoming eligible to make Salary Deferrals under the Plan (pursuant to AA §3 and AA §4), a Participant will be deemed to have entered into a Salary Deferral Election equal to the percentage identified in this subsection (b) for each payroll period, unless the Participant completes a contrary Salary Deferral Election (subject to the limitations under AA §6A-2 and AA §6A-3) in accordance with procedures adopted by the Plan Administrator. Unless designated otherwise by the Participant, any Salary Deferrals made pursuant to an automatic deferral election will be treated as Pre-Tax Salary Deferrals. □ (1) Automatic deferral percentage. % [must be at least 3% and no more than 10%] of Plan Compensation.
Appears in 2 contracts
Samples: 401(k) Plan Adoption Agreement, Nonstandardized Prototype Profit Sharing/401(k) Plan Adoption Agreement
Automatic deferral election. Upon becoming eligible to make Salary Deferrals under the Plan (pursuant to AA §3 and AA §4), a Participant will be deemed to have entered into a Salary Deferral Election equal to the percentage identified in this subsection with a □ (b1) % of Plan Compensation □ (2) $ deferral election for each payroll period, unless the Participant completes a contrary Salary Deferral Election (subject to the limitations under AA §6A-2 and AA §6A-3) in accordance with procedures adopted by the Plan Administrator. Unless designated otherwise by the Participant, any Salary Deferrals made pursuant to an automatic deferral election will be treated as Pre-Tax Salary Deferrals.
□ (1) Automatic deferral percentage. % [must be at least 3% and no more than 10%] of Plan Compensation.
Appears in 2 contracts
Samples: 401(k) Plan Adoption Agreement, Nonstandardized Prototype Profit Sharing/401(k) Plan Adoption Agreement
Automatic deferral election. Upon becoming eligible to make Salary Deferrals under the Plan (pursuant to AA §3 and AA §4), a Participant will be deemed to have entered into a Salary Deferral Election equal to the percentage identified in this subsection with a (b1) % of Plan Compensation (2) $ deferral election for each payroll period, unless the Participant completes a contrary Salary Deferral Election (subject to the limitations under AA §6A-2 and AA §6A-3) in accordance with procedures adopted by the Plan Administrator. Unless designated otherwise by the Participant, any Salary Deferrals made pursuant to an automatic deferral election will be treated as Pre-Tax Salary Deferrals.
□ (1) Automatic deferral percentage. % [must be at least 3% and no more than 10%] of Plan Compensation.
Appears in 1 contract
Samples: 401(k) Plan Adoption Agreement
Automatic deferral election. Upon becoming eligible to make Salary Deferrals under the Plan (pursuant to AA §3 and AA §4), a Participant will be deemed to have entered into a Salary Deferral Election equal to the percentage identified in this subsection (b) for each payroll period, unless the Participant completes a contrary Salary Deferral Election (subject to the limitations under AA §6A-2 and AA §6A-3) in accordance with procedures adopted by the Plan Administrator. Unless designated otherwise by the Participant, any Salary Deferrals made pursuant to an automatic deferral election will be treated as Pre-Tax Salary Deferrals.
□ (1) Automatic deferral percentage. % [must be at least 3% and no more than 10%] of Plan Compensation.
Appears in 1 contract
Samples: 401(k) Plan Adoption Agreement