Common use of Definition of Actual Deferral Percentage Clause in Contracts

Definition of Actual Deferral Percentage. For the purposes of this Section 3.05, Actual Deferral Percentage means, with respect to the Highly Compensated Participant Group and Nonhighly Compensated Participant Group for a Plan Year, the average of the ratios, calculated separately for each Participant in such group (each Participant’s “Actual Deferral Ratio”) and expressed as a percentage, of the amount of Salary Deferral Contributions allocated to each Participant’s Salary Deferral Account (unreduced by any relevant distributions) for such Plan Year, to such Participant’s 414(s) Compensation for such Plan Year, and shall be calculated to the nearest one-hundredth of one percent (0.01%) of a Participant’s 414(s) Compensation.

Definition of Actual Deferral Percentage. For the purposes of this Section 3.05, Actual Deferral Percentage means, with respect to the Highly Compensated Participant Group and Nonhighly Compensated Participant Group for a Plan Year, the average of the ratios, calculated separately for each Participant in such group (each Participant’s “'s "Actual Deferral Ratio”") and expressed as a percentage, of the amount of Salary Deferral Contributions allocated to each Participant’s 's Salary Deferral Account (unreduced by any relevant distributions) for such Plan Year, to such Participant’s 's 414(s) Compensation for such Plan Year, and shall be calculated to the nearest one-hundredth of one percent (0.01%) of a Participant’s 's 414(s) Compensation.