Common use of Compensation Taken Into Account Clause in Contracts

Compensation Taken Into Account. If you wish to count a participant's full year's compensation (even if he or she entered during the year), for contributions choose option (a), if not, choose option (b). Accrual Requirements - Specify the service requirements a participant must satisfy to receive an allocation. You may specify an hours of service requirement, waive the service requirement for specific contributions and/or require the participant to be employed on the last day to receive a contribution.