Eligible Automatic Contribution Arrangement (EACA) Sample Clauses

Eligible Automatic Contribution Arrangement (EACA). To the extent an Automatic Contribution Arrangement satisfies the requirements of an EACA for a Plan Year, as set forth below, such Automatic Contribution Arrangement will automatically qualify as an EACA for purposes of applying the special rules applicable to EACAs described in subsection (3) below. If an Automatic Contribution Arrangement does not satisfy the requirement for an EACA for an entire Plan Year, the Automatic Contribution Arrangement will not be eligible for the special EACA provisions under subsection (3) for such Plan Year. However, the Automatic Contribution Arrangement continues to apply for such Plan Year.

Eligible Automatic Contribution Arrangement (EACA). Effective for Plan Years beginning on or after January 1, 2008, the Employer may elect in the Adoption Agreement to comply with the Eligible Automatic Contribution Arrangement (EACA) rules of Code Section 414(w). For Plan Years beginning on or after January 1, 2008 but prior to January 1, 2010, this Plan could operate in accordance with a good-faith interpretation of the EACA rules. (1) An Eligible Automatic Contribution Arrangement is defined as an arrangement under which a Participant may elect to have the Employer make payments as contributions under the Plan or to the Participant directly in cash, under which the Participant is treated as having elected to have the Employer make such contributions in an amount equal to a uniform percentage of Compensation provided under the Plan until the Participant affirmatively elects through a procedure established by the Plan Administrator to have such contributions made (or specifically elects to have such contributions made at a different percentage), and under which Participants are provided a notice that meets the requirements of Code Section 414(w)(4). A uniform contribution rate must apply to the automatic contributions for all Employees under the Plan. For this purpose, all plans of the Employer required to be aggregated under Code Section 410(b) are considered to be one arrangement. The determination of whether an election is made no later than ninety (90) days after the date of the first default Elective Deferral under the EACA must take into account any other EACA that is required to be aggregated with the EACA under the rules of Regulations Section 1.414(w)-1(b)(2)(iii). (2) The Employer must provide Employees with a notice [as explained at 4.11(c) below] describing the EACA provisions and the ability to opt out of the Plan or to modify the automatic contribution amount. (3) Participants may be automatically enrolled in an EACA provided such Participant may elect if permitted by the Plan Administrator to withdraw the automatic contribution within ninety (90) days [or such other period of time which shall be no shorter than thirty (30) days] of participation without being subject to the premature distribution penalty. A “permissible withdrawal” is defined as any withdrawal from an EACA that is made pursuant to an Employee’s election and consists of Elective Deferrals and earnings or losses attributable to those contributions. Any such withdrawal shall be made in accordance with the Plan’s ordinary timing...

Eligible Automatic Contribution Arrangement (EACA). If so elected by the Employer in the Adoption Agreement, then effective beginning with the Plan Year indicated therein, Participants may be automatically enrolled in an EACA. Further, if elected by the Employer in the Adoption Agreement, a Participant may elect to withdraw the automatic contribution within ninety (90) days after the date his/her first default Elective Deferrals are first deducted from his/her paycheck under the EACA without being subject to the premature distribution penalty. The Plan must meet the following requirements in order to be deemed an EACA: (1) A uniform contribution rate must apply to the automatic contributions for all Employees. (2) The Employer must provide Employees with a notice (as explained in paragraph 4.11(c) below) describing the EACA provisions and the ability to opt out of the Plan or to modify the automatic contribution amount. (3) If an arrangement which qualifies as an Eligible Automatic Contribution Arrangement allows an Employee to elect to make “permissible withdrawals” of certain default Elective Deferrals, the amount withdrawn is included in the Employee’s gross income in the year of the distribution. The premature distribution penalty under Code Section 72(t) is not imposed with respect to the distribution and the arrangement is not treated as violating any restriction on distributions by allowing the withdrawal. With respect to distributions to an Employee as a result of this election, Employer Matching Contributions are forfeited or subject to other treatment that the Internal Revenue Service may prescribe. A “permissible withdrawal” is defined as any withdrawal from an EACA that is made pursuant to an Employee election and consists of Elective Deferrals and earnings or losses attributable to those contributions. The election must be made within ninety (90) days of the date Elective Deferrals are first deducted from Employee’s paychecks with respect to the Employee under the arrangement. The amount of any distributions under this election must be equal to the amount of Elective Deferrals made with respect to the first payroll period to which the EACA applied to the Employee and any succeeding payroll period beginning before the effective date of the election (adjusted for earnings or losses attributable to those contributions). The effective date cannot be later than the earlier of (i) the pay date for the second payroll period beginning after the election is made, or (ii) the first pay date that occurs a...

Eligible Automatic Contribution Arrangement (EACA). If so elected by the Employer in the Adoption Agreement, then effective beginning with the Plan Year indicated therein, Participants may be automatically enrolled in an EACA. Further, if elected by the Employer in the Adoption Agreement, a Participant may elect to withdraw the automatic contribution within ninety (90) days after the date his/her first default Elective Deferrals are first deducted from his/her paycheck under the EACA without being subject to the premature distribution penalty. The Plan must meet the following requirements in order to be deemed an EACA:

Eligible Automatic Contribution Arrangement (EACA). Effective for Plan Years beginning on or after January 1, 2008, the Employer may elect in the Adoption Agreement to comply with the Eligible Automatic Contribution Arrangement (EACA) rules of Code Section 414(w). For Plan Years beginning on or after January 1, 2008 but prior to January 1, 2010, this Plan could operate in accordance with a good-faith interpretation of the EACA rules.

Eligible Automatic Contribution Arrangement (EACA). The EACA Provisions of Section 3.17 of the Base Plan Document: ¨ (a) Apply as of . Unwind Withdrawals (as defined in Section 3.17.5): ¨ (i) Apply. ¨ (ii) Do not apply. þ (b) Do not apply.

Eligible Automatic Contribution Arrangement (EACA). If elected in the Adoption Agreement, the Employer maintains a Plan with Automatic Deferral provisions as an Eligible Automatic Contribution Arrangement (EACA) and the following provisions will apply:

Eligible Automatic Contribution Arrangement (EACA). If Item N(7) is selected, the Plan provides for an automatic election to have Pre-tax Elective Deferral Contributions made under an Eligible Automatic Contribution Arrangement. (See Item N(7) and Section 3.10.)

Eligible Automatic Contribution Arrangement (EACA). If the Employer elects in its Adoption Agreement, the Employer maintains a Plan with Automatic Deferral provisions as an Eligible Automatic Contribution Arrangement (“EACA”), effective as of the date the Employer elects in its Adoption Agreement and the provisions of this Section 3.02(B)(2) will apply. Participants Subject to EACA. The Employer in its Adoption Agreement will elect which Participants are subject to the EACA Automatic Deferral on the Effective Date thereof, including some or all current Participants and those Employees who become Participants after the EACA Effective Date.