Common use of Combination Clause in Contracts

Combination. The sum of 50% of the ordinary life insurance premiums and all other life insurance premiums will not exceed 25% of the aggregate Employer Contributions and Forfeitures allocated to any Participant's Individual Account. If this Plan is a profit sharing plan, the above incidental benefits limits do not apply to life insurance contracts purchased with Employer Contributions and Forfeitures that have been in the Participant's Individual Account for at least 2 full Plan Years, measured from the date such contributions were allocated.

Appears in 13 contracts

Samples: Defined Contribution Plan Document (Janus Investment Fund), Prototype Defined Contribution Plan and Trust/Custodial Account (Connecticut Water Service Inc / Ct), Basic Plan Document (Nabi /De/)

AutoNDA by SimpleDocs

Combination. The sum of 50% of the ordinary life insurance premiums and all other life insurance premiums will not exceed 25% of the aggregate Employer Contributions and Forfeitures allocated to any Participant's Individual Account. If this Plan is a profit sharing plan, the above incidental benefits limits do not apply to life insurance contracts purchased with Employer Contributions and Forfeitures that have been in the Participant's Individual Account for at least 2 full Plan Years, measured from the date such contributions were allocated.

Appears in 1 contract

Samples: Adoption Agreement (Bradford Funds Inc)

AutoNDA by SimpleDocs

Combination. The sum of 5030% of the ordinary life insurance premiums and all other life insurance premiums will not exceed 25% of the aggregate Employer Contributions and Forfeitures allocated to any Participant's Individual Account. If this Plan is a profit sharing plan, the above incidental benefits limits do not apply to life insurance contracts purchased with Employer Contributions and Forfeitures that have been in the Participant's Individual Account for at least 2 full Plan Years, measured from the date such contributions were allocated.

Appears in 1 contract

Samples: Qualified Retirement Plan and Trust (Bradford Funds Inc)

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