CASH OR DEFERRED ARRANGEMENT. If the Employer elects a cash or deferred arrangement, a Participant may elect to make a cash election against his proportionate share of the Employer's Cash or Deferred Contribution, in accordance with the Employer's elections in Adoption Agreement Section
3.01. A Participant's proportionate share of the Employer's Cash or Deferred Contribution is the percentage of the total Cash or Deferred Contribution which bears the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all Participants for the Plan Year. For purposes of determining each Participant's proportionate share of the Cash or Deferred Contribution, a Participant's Compensation is his Compensation as determined under Section 1.12 of the Plan (as modified by Section 3.06 for allocation purposes), excluding any effect the proportionate share may have on the Participant's Compensation for the Plan Year. The Advisory Committee will determine the proportionate share prior to the Employer's actual contribution to the Trust, to provide the Participants the opportunity to file cash elections. The Employer will pay directly to the Participant the portion of his proportionate share the Participant has elected to receive in cash.
CASH OR DEFERRED ARRANGEMENT. If the Employer elects a cash or deferred arrangement, a Participant may elect to make a cash election against his proportionate share of the Employer's Cash or Deferred Contribution, in accordance with the Employer's elections in Adoption Agreement Section
CASH OR DEFERRED ARRANGEMENT. If the Employer in its Adoption Agreement Section 3.02 elects a cash or deferred arrangement, a Participant may elect to make a cash election against his/her proportionate share of the Employer's cash or deferred contribution, in accordance with the Employer's Adoption Agreement elections. A Participant's proportionate share of the Employer's cash or deferred contribution is the percentage of the total cash or deferred contribution which bears the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all Participants for the Plan Year. For purposes of determining each Participant's proportionate share of the cash or deferred contribution, a Participant's Compensation is his/her Compensation as determined under Section 1.07, excluding any effect the proportionate share may have on the Participant's Compensation for the Plan Year. The Plan Administrator will determine the proportionate share prior to the Employer's actual contribution to the Trust, to provide the Participants the opportunity to file cash elections. The Employer will pay directly to the Participant the portion of his/her proportionate share the Participant has elected to receive in cash.
CASH OR DEFERRED ARRANGEMENT. Each Employee except the following shall be eligible to participate in the 401(k) Cash or Deferred Arrangement, any Matching Contributions, any Qualified Matching Contributions or any Qualified Non-elective Contributions which the Employer may make to the Plan in accordance with Section 5 above. (Eligibility for participation in any Discretionary Profit Sharing Contributions shall be determined in Section 6.2 below).
a. Employees who have not attained the age of _____ (cannot exceed 21).
b. Employees who have not completed Year of Service (cannot exceed 1 year). If the Year of Service selected is or includes a fractional year, an Employee will not be required to complete any specified Hours of Service to receive credit for such fractional year.
c. Employees included in a unit of Employees covered by a collective bargaining agreement between the Employer and Employee Representatives, if retirement benefits were the subject of good faith bargaining SHALL NOT be eligible to participate. For this purpose, the term "Employee Representatives" does not include any organization more than half of whose members are employees who are owners, officers, or executives of the Employer.
d. Employees who are nonresident aliens (within the meaning of Code Section 7701(1)(B)) and who received no earned income (within the meaning of Code Section 911(d)(2)) from the Employer which constitutes income from sources within the United States (within the meaning of Code Section 861(a)(3)).
e. The age and service requirement for eligibility to participate shall be waived for individuals employed on the Effective Date of this Adoption Agreement.
CASH OR DEFERRED ARRANGEMENT. If the Employer has elected, in the Adoption Agreement, to include a Cash or Deferred Arrangement (CODA) as part of this Plan, then the following provisions shall apply. Only a profit-sharing plan can include a CODA.
17.01 An Employee who is eligible to participate in the Cash or Deferred Arrangement (CODA) may elect to have the Employer make payments either:
(a) as contributions to the Trust Fund under the Plan in accordance with a salary reduction agreement, or some other deferral mechanism (as selected in the Adoption Agreement); or
(b) to the Participant directly in cash. Each Participant will have the opportunity to elect to defer a portion of his or her Compensation as often as provided for in the Adoption Agreement. Such election may not be made retroactively. A Participant's election to commence Elective Deferrals shall remain in effect until modified or terminated. No Participant shall be permitted to have Elective Deferrals made under this Plan, or any other qualified plan maintained by the Employer, during any taxable year, in excess of the dollar limitation contained in Section 402(g) of the Code in effect at the beginning of such taxable year.
17.02 A Participant may assign to this Plan any Excess Elective Deferrals made during a taxable year of the Participant by notifying the Plan Administrator on or before the date specified in the Adoption Agreement of the amount of the 57 Excess Elective Deferrals to be assigned to the Plan. A Participant is deemed to notify the Plan Administrator of any Excess Elective Deferrals that arise by taking into account only those Elective Deferrals made to this Plan and any other plans of this Employer. Notwithstanding any other provision of the Plan, Excess Elective Deferrals, plus any income and minus any loss allocable thereto, shall be distributed no later than April 15 to any Participant to whose account Excess Elective Deferrals were assigned for the preceding year and who claims Excess Elective Deferrals for such taxable year.
CASH OR DEFERRED ARRANGEMENT. [check if desired]: X The --- plan shall include a Cash or Deferred Arrangement ("CODA") described in Section 401(k) of the Code.
CASH OR DEFERRED ARRANGEMENT. The plan shall not include a Cash or Deferred Arrangement ---- described in Section 401(k) of the Code (2.1). [If the above option is selected, do not complete the remaining questions of item VII.] X The plan shall include a Cash or Deferred Arrangement described in ---- Section 401(k) of the Code. [If the above option is selected, please complete the remaining questions of item VII.]
CASH OR DEFERRED ARRANGEMENT. [X] (a) The Employer elects to include a cash or deferred arrangement in accordance with Article 4 of the Plan.
(b) The Employer does not elect to include a cash or deferred arrangement.
CASH OR DEFERRED ARRANGEMENT. (The Plan Sponsor may choose to offer this provision in his Plan)
CASH OR DEFERRED ARRANGEMENT. (CODE SECTION 401(k)) ----------------------
Section 5.1. Cash or Deferred Arrangement (Code Section 401(k)). The provisions of this Article shall be effective as of the first day of the Plan Year in which this cash or deferred arrangement is elected in item 8 of the Adoption Agreement (Profit Sharing Plan). Under no circumstances shall the provisions of this Article apply prior to the time specified in the preceding sentence.
