Differential Wage Payments. For years beginning after December 31, 2008, (i) an individual receiving a differential wage payment, as defined by Code §3401(h)(2), is treated as an employee of the employer making the payment, (ii) the differential wage payment is treated as compensation, and (iii) the Plan is not treated as failing to meet the requirements of any provision described in Code §414(u)(1)(C) by reason of any contribution or benefit which is based on the differential wage payment.
Appears in 3 contracts
Samples: 401(k) Plan Adoption Agreement (Knowles Corp), 401(k) Profit Sharing Plan (Nci Building Systems Inc), 401(k) Profit Sharing Plan Adoption Agreement (Simpson Manufacturing Co Inc /Ca/)
Differential Wage Payments. For years beginning on or after December 31October 1, 20082012, (i) an individual a Member receiving a differential wage payment, as defined by Code §3401(h)(2), is treated as an employee Employee of the employer Employer making the payment, (ii) the differential wage payment is treated as compensation, and (iii) the Plan is not treated as failing to meet the requirements of any provision described in Code §414(u)(1)(C) by reason of any contribution or benefit which is based on the differential wage payment.
Appears in 2 contracts
Samples: Retirement Plan and Trust Agreement, Retirement Plan and Trust Agreement
