Automatic Increase Program. A Participant may/ may not elect to automatically increase his rate of Elective Deferral Contributions and/or Xxxx Elective Deferral Contributions. If the Participant fails to specify in his election which deferral type is to be increased, the increase is limited only to Elective Deferral Contributions. If the Participant elects to automatically increase his rate of Elective Deferral Contributions and/or Xxxx Elective Deferral Contributions, then such contribution(s) will increase annually by one percentage point up to a maximum rate of 8% as soon as administratively possible each year following the date selected by the Participant or, if no date is selected by the Participant, August 1.
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Samples: files.nc.gov, files.nc.gov, files.nc.gov
