Correction of Multiple Use Test. If the multiple use limit is exceeded, the Administrator shall determine a maximum percentage to be used in place of the calculated percentage for all HCEs that would reduce either or both the ADP or ACP for the HCE Group by a sufficient amount to meet the multiple use limit. Any excess shall be handled in the same manner that the distribution of excess Deferrals or Contributions are handled.
Appears in 11 contracts
Sources: Retirement & Savings Plan (Bank Jos a Clothiers Inc /De/), Retirement Savings Plan and Trust Agreement (Spieker Properties Inc), Retirement Savings Plan and Trust Agreement (Southdown Inc)
Correction of Multiple Use Test. If the multiple use limit is exceeded, the Administrator shall determine a maximum percentage to be used in place of the calculated percentage for all HCEs that would reduce either or both the ADP or ACP for the HCE Group by a sufficient amount to meet the multiple use limit. Any excess shall be handled corrected in the same manner that the distribution of excess Deferrals or Contributions are handledcorrected.
Appears in 4 contracts
Sources: 401(k) Maximum Advantage Program and Trust Agreement (Gerber Scientific Inc), 401(k) Savings Plan and Trust Agreement (Advo Inc), Savings Plan and Trust Agreement (Hanna M a Co/De)
Correction of Multiple Use Test. If the multiple use limit is exceeded, the Administrator shall determine a maximum percentage to be used in place of the calculated percentage for all HCEs that would reduce either or both the ADP or ACP for the HCE Group by a sufficient amount to meet the multiple use limit. Any excess shall be handled corrected in the same manner that the distribution of excess Deferrals or Contributions are handled.corrected. 09/15/97
Appears in 1 contract
Sources: Savings Plan and Trust Agreement (Riviana Foods Inc /De/)