Common use of Factors Considered Clause in Contracts

Factors Considered. Factors include: (1) the steps taken by the Plan Sponsor to ensure that the plan had no failures; (2) the steps taken to identify failures that may have occurred; (3) the extent to which correction had progressed before the examination was initiated, including full correction; (4) the number and type of employees affected by the failure; (5) the number of nonhighly compensated employees who would be adversely affected if the plan were not treated as qualified or as satisfying the requirements of § 403(b), § 408(k) or § 408(p); (6) whether the failure is a failure to satisfy the requirements of § 401(a)(4), § 401(a)(26), or § 410(b), either directly or through § 403(b)(12); (7) the period over which the failure(s) occurred (for example, the time that has elapsed since the end of the applicable remedial amendment period under § 401(b) for a Plan Document Failure; and (8) the reason for the failure(s) (for example, data errors such as errors in transcription of data, the transposition of numbers, or minor arithmetic errors). Factors relating only to Qualified Plans also include: (1) whether the plan is the subject of a Favorable Letter; (2) whether the plan has both Operational and other failures; (3) the extent to which the plan has accepted Transferred Assets, and the extent to which the failure(s) relate to Transferred Assets and occurred before the transfer; and

Factors Considered. Factors include: (1) The amount of the steps taken by sanction will depend on factors relating to the Plan Sponsor to ensure that nature, extent, and severity of the plan had no failures; (2) the steps taken to identify failures that may have occurred; (3) , including the extent to which correction had progressed before the examination was initiated. For both Qualified Plans and 403(b) Plans, including full correction; other factors relating to the nature, extent, and severity of the failures include: (41) the number and type of employees affected by the failure; , (52) the number of nonhighly compensated employees who would be adversely affected if the plan were was not treated as qualified or as satisfying the requirements of § 403(b), § 408(k) or § 408(p); (63) whether the failure is a failure to satisfy the requirements of § 401(a)(4), § 401(a)(26), or § 410(b), either directly or through § 403(b)(12); , (74) the period over which the failure(s) failure occurred (for example, the time that has elapsed since the end of the applicable remedial amendment period under § 401(b410(b) for a Plan Document Failure; ), and (8) 5) the reason for the failure(s) failure (for example, data errors such as errors in transcription of data, the transposition of numbers, or minor arithmetic errors). Factors relating only to Qualified Plans also include: (1) whether the plan is the subject of a Favorable Letter; , and (2) whether the plan has both Operational and other failures; Plan Document Failures. Additional factors relating to 403(b) Plans include: (31) whether the plan has a combination of Operational, Demographic, or Eligibility Failures, (2) the extent to which the plan has accepted Transferred Assetsfailure relates to Excess Amounts, and (3) whether the extent to which the failure(s) relate to Transferred Assets and occurred before the transfer; andplan is a Plan of an Ineligible Employer.

Factors Considered. Factors include: (1) the steps taken by the Plan Sponsor to ensure that the plan had no failures; , (2) the steps taken to identify failures that may have occurred; , (3) the extent to which correction had progressed before the examination was initiated, including full correction; , (4) the number and type of employees affected by the failure; , (5) the number of nonhighly compensated employees who would be adversely affected if the plan were not treated as qualified or as satisfying the requirements of § 403(b), § 408(k) or § 408(p); , (6) whether the failure is a failure to satisfy the requirements of § 401(a)(4), § 401(a)(26), or § 410(b), either directly or through § 403(b)(12); , (7) the period over which the failure(s) occurred (for example, the time that has elapsed since the end of the applicable remedial amendment period under § 401(b) for a Plan Document Failure; ), and (8) the reason for the failure(s) (for example, data errors such as errors in transcription of data, the transposition of numbers, or minor arithmetic errors). Factors relating only to Qualified Plans also include: (1) whether the plan is the subject of a Favorable Letter; , (2) whether the plan has both Operational and other failures; , (3) the extent to which the plan has accepted Transferred Assets, and the extent to which the failure(s) relate to Transferred Assets and occurred before the transfer; and, and (4) whether the failure(s) were discovered during the determination letter process. Additional factors relating only to 403(b) Plans include: (1) whether the plan has a combination of Operational, Demographic, or Employer Eligibility Failures, (2) the extent to which the failure relates to Excess Amounts, and (3) whether the failure is solely an Employer Eligibility Failure.

Factors Considered. Factors include: (1) The amount of the steps taken by sanction will depend on factors re- lating to the Plan Sponsor to ensure that nature, extent, and severity of the plan had no failures; (2) the steps taken to identify failures that may have occurred; (3) , including the extent to which correction had progressed before the examination was initiated. For both Qualified Plans and 403(b) Plans, including full correction; other factors relating to the nature, extent, and severity of the failures include: (41) the number and type of employees affected by the failure; , (52) the number of nonhighly non- highly compensated employees who would be adversely affected if the plan were was not treated as qualified or as satisfying satisfy- ing the requirements of § 403(b), § 408(k) or § 408(p); (63) whether the failure is a failure to satisfy the requirements of § 401(a)(4), § 401(a)(26), or § 410(b), either directly or through § 403(b)(12); , (74) the period over which the failure(s) failure occurred (for example, the time that has elapsed since the end of the applicable remedial amendment period pe- riod under § 401(b410(b) for a Plan Document Failure; ), and (8) 5) the reason for the failure(s) failure (for example, data errors such as errors in transcription of data, the transposition of numbers, or minor arithmetic errors). Factors relating only to Qualified Plans also include: (1) whether the plan is the subject sub- ject of a Favorable Letter; , and (2) whether the plan has both Operational and other failures; (3Plan Document Failures. Additional factors relating to 403(b) the extent to which the plan has accepted Transferred Assets, and the extent to which the failure(s) relate to Transferred Assets and occurred before the transfer; andPlans include:

Factors Considered. Factors include: (1) the steps taken by the Plan Sponsor to ensure that the plan had no failures; , (2) the steps taken to identify failures that may have occurred; , (3) the extent to which correction had progressed before the examination was initiated, including full correction; , (4) theamount of the fee the Plan Sponsor would have paid under section 12 for correcting the failures, (5) the number and type of employees affected by the failure; , (56)(5) the number of nonhighly compensated employees who would be adversely affected if the plan were not treated as qualified or as satisfying the requirements of § 403(b) or § 408(k), (7)§ 403(b), § 408(k) or § 408(p); , (6) whether the failure is a failure to satisfy the requirements of § 401(a)(4), § 401(a)(26), or § 410(b), either directly or through § 403(b)(12); , (78)(7) the period over which the failure(s) occurred (for example, the time that has elapsed since the end of the applicable remedial amendment period under § 401(b) for a Plan Document Failure; ), and (8) 9)(8) the reason for the failure(s) (for example, data errors such as errors in transcription of data, the transposition of numbers, or minor arithmetic errors). Factors relating only to Qualified Plans also include: (1) whether the plan is the subject of a Favorable Letter; , (2) whether the plan has both Operational and other failures; ,and (3) the extent to which the plan has accepted Transferred Assets, and the extent to which the failuresthe failure(s) relate to Transferred Assets and occurred before the transfer; andtransfer.transfer, and (4) whether the failure(s) were discovered during the determination letter process. Additional factors relating only to 403(b) Plans include: