Common use of Contributions to Disabled Participants Clause in Contracts

Contributions to Disabled Participants. The Employer will make contributions on behalf of a Participant who is permanently and totally disabled. These contributions will be based on the Compensation each such Participant would have received for the Limitation Year if the Participant had been paid at the rate of Compensation paid immediately before becoming permanently and totally disabled. Such imputed Compensation for the disabled Participant may be taken into account only if the Participant is not a Highly Compensated Employee. These contributions will be 100% vested when made.

Appears in 12 contracts

Samples: Nonstandardized Adoption Agreement (First Northwest Bancorp), Prototype Defined Contribution Plan (Savannah Bancorp Inc), Nonstandardized Adoption Agreement (Banctrust Financial Group Inc)

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Contributions to Disabled Participants. The Employer will make contributions on behalf of a Participant who is permanently and totally disabledDisabled. These contributions will be based on the Compensation each such Participant would have received for the Limitation Year if the Participant had been paid at the rate of Compensation paid immediately before becoming permanently and totally disabledDisabled. Such imputed Compensation for the disabled Participant may be taken into account only if the Participant is not a Highly Compensated Employee. These contributions will be 100% vested when made.

Appears in 2 contracts

Samples: Plan Adoption Agreement, Plan Adoption Agreement

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Contributions to Disabled Participants. The Employer will continue to make contributions on behalf of a Participant who is permanently and totally disabled. These contributions will be based on the Compensation each such Participant would have received for the Limitation Year if the Participant had been paid at the rate of Compensation paid immediately before becoming permanently and totally disabled. Such imputed Compensation for the disabled Participant may be taken into account only if the Participant is not a Highly Compensated Employee. These contributions will be 100% vested when made.

Appears in 1 contract

Samples: Nonstandardized Adoption Agreement (First Farmers & Merchants Corp)

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