Common use of Describe Increase Clause in Contracts

Describe Increase. [Note: The Employer in Election 20(b)(2)b. may define different increases for different groups of Participants or may otherwise limit Automatic Escalation, subject to the Vendor’s operational capabilities. Any such provisions must be definitely determinable. The Plan Administrator may direct the Vendor (subject to its operational capabilities) regarding whether to apply an automatic increase to a Participant’s Elective Deferrals, if such Participant previously elected to remove such an increase within a certain period of time. Such directions will be considered administrative documentation.]