ELECTION NOT TO PARTICIPATE. If the Plan is a Standardized Plan, the Plan does not permit an otherwise eligible Employee nor any Participant to elect not to participate in the Plan ("opt-out"). If the Plan is a Nonstandardized Plan, the Employer in its Adoption Agreement must elect whether any eligible Employee may elect irrevocably to opt-out. The Employee prior to his/her Plan Entry Date must file an opt-out election in writing with the Plan Administrator on a form provided by the Plan Administrator for this purpose.
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Samples: 401(k) Plan Adoption Agreement (Petco Animal Supplies Inc), Adoption Agreement (CRH Public LTD Co), Adoption Agreement (Bank of Granite Corp)
ELECTION NOT TO PARTICIPATE. If the Plan is a Standardized Plan, the Plan does not permit an otherwise eligible Employee nor any Participant to elect not to participate in the Plan ("“opt-out"”). If the Plan is a Nonstandardized Plan, the Employer in its Adoption Agreement must elect whether any eligible Employee may elect irrevocably to opt-out. The Employee prior to his/her Plan Entry Date must file an opt-out election in writing with the Plan Administrator on a form provided by the Plan Administrator for this purpose.. Table of Contents
Appears in 1 contract
ELECTION NOT TO PARTICIPATE. If the Plan is a Standardized Plan, the Plan does not permit an otherwise eligible Employee nor any Participant to elect not to participate in the Plan ("“opt-out"”). If the Plan is a Nonstandardized Plan, the Employer in its Adoption Agreement must elect whether any eligible Employee may elect irrevocably to opt-out. The Employee prior to his/her Plan Entry Date must file an opt-out election in writing with the Plan Administrator on a form provided by the Plan Administrator for this purpose.
Appears in 1 contract
Samples: Defined Contribution Prototype Plan (MSC Software Corp)
ELECTION NOT TO PARTICIPATE. If the Plan is a Standardized Plan, the --------------------------- Plan does not permit an otherwise eligible Employee nor any Participant to elect not to participate in the Plan ("opt-out"). If the Plan is a Nonstandardized Plan, the Employer in its Adoption Agreement must elect whether any eligible Employee may elect irrevocably to opt-out. The Employee prior to his/her Plan Entry Date must file an opt-out election in writing with the Plan Administrator on a form provided by the Plan Administrator for this purpose.
Appears in 1 contract
ELECTION NOT TO PARTICIPATE. If the Employer's Plan is a Standardized Plan, the Plan does not permit an otherwise eligible Employee nor any Participant to elect not to participate in the Plan ("opt-out")Plan. If the Employer's Plan is a Nonstandardized Plan, the Employer must specify in its Adoption Agreement must elect whether an Employee eligible to participate, or any eligible Employee present Participant, may elect irrevocably not to opt-outparticipate in the Plan. The Employee prior For an election to his/her be effective for a particular Plan Entry Date must file an opt-out election in writing with the Plan Administrator on a form provided by the Plan Administrator for this purpose.Year, the
Appears in 1 contract
Samples: Defined Contribution Prototype Plan and Trust Agreement (Mmi Products Inc)
