Eligible Employer. For purposes of the SIMPLE 401(k) Plan provisions, an Eligible Employer means with respect to any Plan Year, an Employer who had no more than one hundred (100) Employees who received at least $5,000 of Compensation from the Employer for the preceding year. In applying the preceding sentence, all Employees of controlled groups of corporations under Code Section 414(b), all Employees of trades or businesses (whether incorporated or not) under common control under Code Section 414(c), all Employees of affiliated service groups under Code Section 414(m), and Leased Employees required to be treated as the Employer’s Employees under Code Section 414(n), are taken into account. An Eligible Employer who elects to have the SIMPLE 401(k) Plan provisions apply to the Plan and fails to continue to qualify as an Eligible Employer for any subsequent year, is treated as an Eligible Employer for the two (2) years following the last year during which the employer was an Eligible Employer. If the failure is due to any acquisition, disposition, or similar transaction involving an Eligible Employer, the preceding sentence shall apply only if the provisions of Code Section 410(b)(6)(C)(i) are satisfied.
Eligible Employer. Plan Sponsor has determined that it is an “eligible employer” as that term is defined in Code Section 457(e)(1)(A).
Eligible Employer. The term “Eligible Employer” means, with respect to any Year, an Employer that had no more than 100 Employees who received at least $5,000 of Compensation from the Employer for the preceding Year. In applying the preceding sentence, all Employees of controlled groups of corporations under Code §414(b), all Employees of trades or businesses (whether incorporated or not) under common control under Code §414(c), all Employees of affiliated service groups under Code §414(m), and Leased Employees required to be treated as the Employer’s Employees under Code §414(n), are taken into account. An Eligible Employer that adopts this amendment and fails to be an Eligible Employer for any subsequent Year is treated as an Eligible Employer for the 2 Years following the last Year the Employer was an Eligible Employer. If the failure is due to any acquisition, disposition, or similar transaction involving an Eligible Employer, the preceding sentence applies only if the provisions of Code §410(b)(6)(C)(i) are satisfied.
Eligible Employer. An Employer may elect to apply this Section 3.10 if: (i) the Plan Year is the calendar year; (ii) the Employer (including Related Employers under Section 1.24(C)) has no more than 100 Employees who received Compensation of at least $5,000 in the immediately preceding calendar year; and (iii) the Employer (including Related Employers under Section 1.24(C)) does not maintain any other plan as described in Code §219(g)(5), to which contributions were made or under which benefits were accrued for Service by an Eligible Employee in the Plan Year to which the SIMPLE 401(k) provisions apply.
Eligible Employer. For purposes of the SIMPLE 401(k) Plan provisions, an Eligible Employer means with respect to any Plan Year, an Employer who had no more than one hundred (100) Employees who received at least $5,000 of Compensation from the Employer for the preceding year. In applying the preceding sentence, all Employees of controlled groups of corporations under Code Section 414(b), all Employees of trades or businesses (whether incorporated or not) under common control under Code Section 414(c), all Employees of affiliated service groups under Code Section 414(m), and Leased Employees required to be treated as the Employer’s Employees under Code Section 414(n), are taken into account. An Eligible Employer who elects to have the SIMPLE 401(k) Plan provisions apply to the Plan and fails to continue to qualify as an Eligible Employer for any subsequent year, is treated as an Eligible Employer for the two (2) years following the last year during which the employer was an Eligible Employer. If the failure is due to any acquisition, disposition, or similar transaction involving an Eligible Employer, the preceding sentence shall apply only if the provisions of Code Section 410(b)(6)(C)(i) are satisfied. An Employer that establishes and maintains a SIMPLE 401(k) plan for one or more years, and fails to be an “Eligible Employer” for any later year, is treated as an Eligible Employer for the two years following the last year the Employer was an Eligible Employer. An Employer that previously maintained a SIMPLE plan is treated as satisfying the “100- employee limitation” for the two calendar years immediately following the calendar year for which it last satisfied the 100-employee limitation. However, this grace period rule does not apply if the reason for the failure to be an Eligible Employer was due to any acquisition, disposition, or similar transaction involving an Eligible Employer, unless certain conditions are met. These conditions are: (1) the Employer becomes or ceases to be a member of a group of employers aggregated under Code Sections 414(b), (c), (m), or (o); (2) the plan satisfies Code Section 410(b) coverage requirements immediately before the change; and (3) coverage under the plan is not significantly changed during the transition period that begins on the date of the transaction and ends on the last day of the first Plan Year beginning after the date of the transaction.
Eligible Employer. The State has determined that it is an “eligible employer” as that term is defined in the Internal Revenue Code of 1986, as amended (“Code”) Section 457(e)(1)(A) and 414(d).
Eligible Employer. An employer as defined in §1.403(b)-2(b)(8).
Eligible Employer. An Employer may elect to apply this Section 3.10 if: (i) the Plan Year is the calendar year; (ii) the Employer (including Related Employers under Section 1.23(C)) has no more than 100 Employees who received Compensation of at least $5,000 in the Defined Contribution Prototype Plan immediately preceding calendar year; and (iii) the Employer (including Related Employers under Section 1.23(C)) does not maintain any other plan as described in Code §219(g)(5), to which contributions were made or under which benefits were accrued for Service by an Eligible Employee in the Plan Year to which the SIMPLE 401(k) provisions apply.
Eligible Employer. Certify that it qualifies under Section 403(b) of the Internal Revenue Code of 1986, as amended, as an organization eligible to offer this 403(b) plan to its employees and accept all liability for this determination. Employer agrees to notify Service Provider if it becomes an ineligible organization.
