Common use of Base Integrated Allocation Formula Clause in Contracts

Base Integrated Allocation Formula. The Employer shall have the right to make a discretionary nonelective contribution. To the extent that such contributions are sufficient, they shall be allocated as follows: % of each eligible Participant's Compensation, plus % of Compensation in excess of the Integration Level defined at Section III(C) hereof. The percentage of excess Compensation may not exceed the lesser of (i) the amount first specified in this paragraph or (ii) the greater of 5.7% or the percentage rate of tax under Code Section 3121(a) as in effect on the first day of the Plan Year attributable to the Old Age (OA) portion of the OASDI provisions of the Social Security Act. If the Employer specifies an Integration Level in Section III(C) that is lower than the Taxable Wage Base for Social Security purposes (SSTWB) in effect as of the first day of the Plan Year, the percentage contributed with respect to excess Compensation must be adjusted. If the Plan's Integration Level is greater than the larger of $10,000 or 20% of the SSTWB but not more than 80% of the SSTWB, the excess percentage is 4.3%. If the Plan's Integration Level is greater than 80% of the SSTWB but less than 100% of the SSTWB, the excess percentage is 5.4%. Only one Plan maintained by the Employer may be integrated with Social Security. Any Plan utilizing a Safe Harbor formula as provided in Section VII of this Adoption Agreement may not apply the Safe Harbor Contributions to the integrated allocation formula.

Base Integrated Allocation Formula. The Employer shall have the right to make a discretionary nonelective contribution. To the extent that such contributions are sufficient, they shall be allocated first, as follows: % a designated percentage of each eligible Participant's ’s Compensation, plus % a designated percentage of Compensation in excess of the Integration Level (as defined at Section III(C) hereofin the Adoption Agreement). The Cycle D EGTRRA 401(k) IDP BPD percentage of excess Compensation may not exceed the lesser of (i) the amount first specified in this paragraph or (ii) the greater of 5.7% or the percentage rate of tax under Code Section 3121(a3111(a) as in effect on the first day of the Plan Year attributable to the Old Age (OA) portion of the OASDI provisions of the Social Security Act. If the Employer specifies an Integration Level in Section III(C) that the Adoption Agreement which is lower than the Taxable Wage Base (for Social Security purposes (SSTWB) in effect as of the first day of the Plan Year, the percentage contributed with respect to excess Compensation must be adjusted. If the Plan's ’s Integration Level is greater than the larger of $10,000 or 20% of the SSTWB but not more than 80% of the SSTWBTWB, the excess percentage is 4.3%. If the Plan's ’s Integration Level is greater than 80% of the SSTWB TWB but less than 100% of the SSTWBTWB, the excess percentage is 5.4%. Only one Plan maintained by the Employer may be integrated with Social Security. Any Plan utilizing a Safe Harbor formula as provided in Section VII of this Adoption Agreement may not apply the Safe Harbor Contributions to the integrated allocation formula.

Base Integrated Allocation Formula. The Employer shall have As an amount taking into consideration amounts contributed to Social Security using the right two-step Base Integrated Allocation Formula as described in paragraph 3.1(b) of the Plan Document; to make a discretionary nonelective contribution. To the extent that such contributions are sufficient, they shall be allocated as follows: % of each eligible Participant's ’s Compensation, plus % of Compensation in excess of the Integration Level defined at Section III(CIII(D) hereof. The percentage of excess Compensation may not exceed the lesser of (i1) the amount first specified in this paragraph or (ii2) the greater of 5.7% or the percentage rate of tax under Code Section 3121(a3111(a) as in effect on the first day of the Plan Year attributable to the Old Age (OA) portion of the OASDI provisions of the Social Security Act. If the Employer specifies an Integration Level in Section III(CIII(D) that which is lower than the Taxable Wage Base for Social Security purposes (SSTWB) in effect as of the first day of the Plan Year, the percentage contributed with respect to excess Compensation must be adjusted. If the Plan's ’s Integration Level is greater than the larger of $10,000 or 20% of the SSTWB but not more than 80% of the SSTWB, the excess percentage is 4.3%. If the Plan's ’s Integration Level is greater than 80% of the SSTWB but less than 100% of the SSTWB, the excess percentage is 5.4%. Only one Plan maintained by the Employer may be integrated with Social Security. Any Plan utilizing a Safe Harbor formula as provided in Section VII of this Adoption Agreement may not apply the Safe Harbor Contributions to the integrated allocation formula.