Defined Contribution Plan Fraction. For Limitation Years beginning before January 1, 2000, a fraction, the numerator of which is the sum of the Annual Additions to the Participant’s account under all the Defined Contribution Plans (whether or not terminated) maintained by the Employer for the current and all prior Limitation Years (including the Annual Additions attributable to the Participant’s nondeductible Employee contributions to all Defined Benefit Plans, whether or not terminated, maintained by the Employer, and the Annual Additions attributable to all Welfare Benefit Funds as defined in paragraph 1.121, individual medical accounts as defined in Code Section 415(l)(2) and Simplified Employee Pension Plans as defined in paragraph 1.105, maintained by the Employer), and the denominator of which is the sum of the maximum aggregate amounts for the current and all prior Limitation Years of Service with the Employer (regardless of whether a Defined Contribution Plan was maintained by the Employer). The maximum aggregate amount in the Limitation Year is the lesser of 125% of the dollar limitation determined under Code Sections 415(b) and (d) in effect under Code Section 415(c)(1)(A) or 35% of the Participant’s Compensation for such year.
Defined Contribution Plan Fraction. As used in this section, the words "defined contribution plan fraction" shall mean, for any Plan year, a fraction,
(a) the numerator of which is the sum of the annual additions to the participant's account under all defined contribu-tion plans maintained by the Company in that Plan year; and,
(b) the denominator of which is the sum of the lesser of the following amounts, determined for the year and for each prior year of service with the Company: (i) the product of 1.25 multiplied by the dollar limitation in effect for the year, or (ii) the product of 1.4 multiplied by the percentage of compensation limit (IRC 415(e)(3) as amended).
(c) In computing the defined contribution plan fraction above, for years ending after December 31, 1982, at the election of the Company, the amount to be taken into account for all years ending before January 1, 1983, may be computed to be an amount equal to the denominator of the fraction, as in effect for the year ending in 1982, multiplied by a transition fraction,
1. the numerator of which is the lesser of (i) fifty-one thousand eight hundred seventy-five dollars ($51,875.00), or (ii) 1.4 multiplied by twenty-five percent (25%) of the participant's compensation for the year ending in 1981; and,
2. the denominator of which is the lesser of (i) forty-one thousand five hundred dollars ($41,500.00), or (ii) twenty-five percent (25%) of the participant's compensation for the year ending in 1981.
Defined Contribution Plan Fraction. A fraction, the numerator of which is the sum of the Annual Additions to the Participant’s Account under all the Defined Contribution Plans (whether or not terminated) maintained by the Employer for the current and all prior Limitation Years (including the Annual Additions attributable to the Participant’s Employee After-Tax Contributions to all Defined Benefit Plans, whether or not terminated, maintained by the Employer, and the Annual Additions attributable to all welfare benefit funds (as defined under Code §419(e)), individual medical accounts (as defined under Code §415(l)(2)), and SEPs (as defined under Code §408(k)) maintained by the Employer, and the denominator of which is the sum of the maximum aggregate amount for the current and all prior Limitation Years during which the Participant performed service with the Employer (regardless of whether a Defined Contribution Plan was maintained by the Employer during such years). The maximum aggregate amount in any Limitation Year is the lesser of: (i) 125 percent of the Defined Contribution Dollar Limitation in effect under Code §415(c)(l)(A) (as determined under Code §§415(b) and (d)) for such Limitation Year or (ii) 35 percent of the Participant’s Total Compensation for such Limitation Year. If the Plan is a Top-Heavy Plan for any Plan Year, 100% will be substituted for 125% unless in Part 13, #54.b. of the Agreement [Part 13, #72.b. of the 401(k) Agreement], the Employer provides an extra minimum top-heavy allocation or benefit in accordance with Code §416(h) and the regulations thereunder. In any event, if the Top-Heavy Ratio exceeds 90%, then 100% will always be substituted for 125%. If the Employee was a Participant as of the end of the first day of the first Limitation Year beginning after December 31, 1986, in one or more Defined Contribution Plans maintained by the Employer which were in existence on May 6, 1986, the numerator of this fraction will be adjusted if the sum of this fraction and the Defined Benefit Plan Fraction would otherwise exceed 1.0 under the terms of this Plan. Under the adjustment, an amount equal to the product of (i) the excess of the sum of the fractions over 1.0 times (ii) the denominator of this fraction, will be permanently subtracted from the numerator of this fraction. The adjustment is calculated using the fractions as they would be computed as of the end of the last Limitation Year beginning before January 1, 1987, and disregarding any changes in the terms and cond...
Defined Contribution Plan Fraction. A component of the combined limitation test under Code §415(e) for Employers that maintain or ever maintained both a Defined Contribution and a Defined Benefit Plan. See Section 7.5(b)(2).
Defined Contribution Plan Fraction. The defined contribution plan fraction is determined as follows:
(1) The defined contribution plan fraction for any Limitation Year is a fraction of:
(A) the numerator of which is the sum of all Annual Additions to the Participant's Accounts as of the close of the Limitation Year; and
(B) the denominator of which is the sum of the lesser of the following amounts determined for such year and each prior Year of Service with the Employer:
(i) the product of 1.25 multiplied by the dollar limitation in effect under Code section 415(c)(1)(A) for such Limitation Year (determined without regard to Code section 415(c)(6)); or
(ii) the product of 1.4 multiplied by the amount which may be taken into account under Code section 415(c)(1)(B) for such Limitation Year.
(2) Notwithstanding the foregoing, the numerator of the defined contribution plan fraction shall be adjusted pursuant to Regulations section 1.415-7(d)(1) and questions T-6 and T-7 of the Internal Revenue Service Notice 83-10.
(3) For defined contribution plans in effect on or before July 1, 1982, the Plan Administrator may elect for any Limitation Year ending after December 31, 1982, that the amount taken into account in the denominator for every Participant for all Limitation Years ending before January 1, 1983, shall be an amount equal to the product of (A) the denominator for the Limitation Year ending in 1982 determined under the law in effect for the Limitation Year ending in 1982 multiplied by (B) the transition fraction.
(4) For purposes of the preceding paragraph, the term transition fraction shall mean a fraction (A) the numerator of which is the lesser of (1) $51,875, or (2) 1.4 multiplied by 25% of the Participant's 415(c) Compensation for the Limitation Year ending in 1981, and (B) the denominator of which is the lesser of (1) $41,500 or (2) 25% of the Participant's 415(c) Compensation for the Limitation Year ending in 1981.
(5) Notwithstanding the foregoing, for any Limitation Year in which the Plan is a Top-Heavy Plan (as determined under Section 8.02), $41,500 shall be substituted for $51,875 in determining the transition fraction unless an extra minimum allocation is being provided pursuant to this Plan being found to be Top-Heavy. However, for any Limitation Year in which this Plan is a Super-Top-Heavy Plan, $41,500 shall be substituted for $51,875 in any event.
(6) If an Employee was a Participant as of the end of the first day of the first Limitation Year beginning after December 31, 198...
Defined Contribution Plan Fraction. A Fraction, the numerator of which is the sum of the Annual Additions to the Participant's account under all the Defined Contribution Plans (whether or not terminated) maintained by the Employer for the current and all prior Limitation Years (including the Annual Additions attributable to the Participant's nondeductible Employee contributions to all Defined Benefit Plans, whether or not terminated, maintained by the Employer, and the Annual Additions attributable to all Welfare Benefit Funds, as defined in paragraph 1.89 and individual medical accounts, as defined in Code Section 415(l)(2), maintained by the Employer), and the denominator of which is the sum of the maximum aggregate amounts for the current and all prior Limitation Years of service with the Employer (regardless of whether a Defined Contribution Plan was maintained by the Employer). The maximum aggregate amount in the Limitation Year is the lesser of 125 percent of the dollar limitation determined under Code Sections 415(b) and (d) in effect under Code Section 415(c)(1)(A) or 35 percent of the Participant's Compensation for such year. If the Employee was a Participant as of the end of the first day of the first Limitation Year beginning after 1986, in one or more Defined Contribution Plans maintained by the Employer which were in existence on May 6, 1986, the numerator of this fraction will be adjusted if the sum of this fraction and the Defined Benefit Fraction would otherwise exceed 1.0 under the terms of this Plan. Under the adjustment, an amount equal to the product of (1) the excess of the sum of the fractions over 1.0 times (2) the denominator of this fraction will be permanently subtracted from the numerator of this fraction. The adjustment is calculated using the fractions as they would be computed as of the end of the last Limitation Year beginning before 1987, and disregarding any changes in the terms and conditions of the Plan made after May 6, 1986, but using the Section 415 limitation applicable to the first Limitation Year beginning on or after January 1, 1987. The Annual Addition for any Limitation Year beginning before 1987 shall not be re-computed to treat all Employee Contributions as Annual Additions.
Defined Contribution Plan Fraction. A fraction the numerator of which is the sum of the Annual Additions to the Participant's account(s) under all qualified defined contribution plans of Company including voluntary contribution accounts as of the close of the Limitation Year, and the denominator of which is the sum of the lesser of the following amounts determined for such year and for each prior Year of Service with the Company:
(1) Such amount as is determined by multiplying 1.25 by the dollar limitation in effect for the defined contribution plans under Internal Revenue Code Subsection 415(c)(1)(A) for such year (determined without regard to Section 415(c)(6) of the Code), or
(2) 35 percent of the Participant's compensation for such year. Notwithstanding the foregoing, for any Top-Heavy Plan Year, 1.0 shall be substituted for 1.25 above if any Non-Key Employee Participant eligible for any accrual of benefits does not have either an allocation of Company contributions and forfeitures of at least 7.5 percent of Compensation for such year or an accrued benefit in a defined benefit plan in which he participates of not less than the 3% minimum benefit as provided in Code Section 416(h)(2)(A)(ii)(I)(but not both). However, for any Plan Year in which this Plan is a Super Top-Heavy Plan, 1.0 shall be substituted for 1.25 in any event.
Defined Contribution Plan Fraction. A fraction, the numerator of which is the sum of the Annual Additions to the Participant's accounts under all defined contribution plans (whether or not terminated) maintained by the Employer for the current and all prior Limitation Years (including the Annual Additions from (i) the Participant's nondeductible employee contributions to all defined benefit plans (whether or not terminated), (ii) "welfare benefit funds" (as defined in Section 419(e) of the Code) maintained by the Employer, (iii) "individual medical accounts" (as defined in Section 415(1)(2) of the Code) maintained by the Employer and (iv) "simplified employee pensions" (as defined in Section 408(k) of the Code) maintained by the Employer, and the denominator of which is the sum of the maximum aggregate amounts for the current and all prior Limitation Years of service with the Employer (regardless of whether the Employer maintained a defined contribution plan). The maximum aggregate amount in any Limitation Year is the lesser of 125% of the dollar limit under Section 415(b) and (d) of the Code in effect under Section 415(c)(1)(A) of the Code or 35% of the Participant's Compensation for that Year. If the Employee was a Participant as of the end of the first day of the first Limitation Year beginning after December 31, 1986, in one or more defined contribution plans maintained by the Employer which existed on May 6, 1986, the numerator of this Fraction is adjusted if the sum of this Fraction and the Defined Benefit Plan Fraction would otherwise exceed 1.0 under the terms of this Plan. Under the adjustment, an amount equal to the product of (1) the excess of the sum of the Fractions over 1.0, multiplied by (2) the denominator of this Fraction, is permanently subtracted from the numerator of this Fraction. The adjustment is calculated using the Fractions as they would be computed as of the end of the last Limitation Year beginning before January 1, 1987, and disregarding any changes in the terms and conditions of the Plan made after May 5, 1986, but using the limit under Section 415 of the Code that applied on the first Limitation Year beginning on or after January 1, 1987. The Annual Addition for any Limitation Year beginning before January 1, 1987, is not recomputed to treat all Employee contributions as Annual Additions.
Defined Contribution Plan Fraction. 3.19(k) (3.10)
Defined Contribution Plan Fraction. 3.19(k) (3.09)
