Highly Compensated Employee. The term Highly Compensated Employee includes highly compensated active employees and highly compensated former employees.
Highly Compensated Employee. Effective for years after December 31, 1996, the term Highly Compensated Employee means any Employee who: (1) is a 5% or more owner at any time during the year or preceding year, or (2) for the preceding year had Compensation from the Employer in excess of $80,000 and if the Employer so elects in the Adoption Agreement, is in the Top-Paid Group for the preceding year. The $80,000 amount is adjusted at the same time and in the same manner as under Code Section 415(d), except that the base period is the calendar quarter ending September 30, 1996. For the determination of who is a Highly Compensated Employee, the applicable year of the Plan for which a determination is being made is called a determination year and the preceding twelve (12) month period is called a look-back year. Employees who do not meet the Highly Compensated Employee definition are considered Non-Highly Compensated Employees. A Highly Compensated former Employee is based on the rules applicable to determining Highly Compensated Employee status in effect for that determination year, in accordance with Section 1.414(q)-1T, A-4 of the temporary Income Tax Regulations and IRS Notice 97-45. In determining whether an Employee is a Highly Compensated Employee for years beginning in 1997, the amendments to Code Section 414(q) stated above are treated as having been in effect for years beginning in 1996. In order to be effective, a Top-Paid Group election or calendar year data election must apply consistently to all plans of the Employer that begin with or within the same calendar year.
Highly Compensated Employee. (A) A highly compensated active Employee includes any Employee who performs service for the Employer or Affiliate during the Plan Year and who, during the look-back year (the twelve-month period immediately preceding the Plan Year):
(i) received Compensation from the Employer or Affiliate in excess of $75,000 (as adjusted by the Adjustment Factor);
(ii) received Compensation from the Employer or Affiliate in excess of $50,000 (as adjusted by the Adjustment Factor) and was a member of the top-paid group for such year; or
(iii) was an officer of the Employer or Affiliate and received Compensation during such year that is greater than 50% of the Defined Benefit Dollar Limitation.
(B) The term Highly Compensated Employee also includes:
(i) Employees who are both described in the preceding sentence if the term "Plan Year" is substituted for the term "look-back year" and the Employee is one of the 100 Employees who received the most Compensation from the Employer or Affiliate during the Plan Year; and
(ii) Employees who are 5% owners at any time during the look-back year or Plan Year.
(C) If no officer has received Compensation that is greater than 50% of the Defined Benefit Dollar Limitation in effect during either the Plan Year or look-back year, the highest paid officer of such year shall be treated as a Highly Compensated Employee.
(D) A highly compensated former employee includes any Employee who terminated Employment (or was deemed to have terminated) prior to the Plan Year, performs no service for the Employer or Affiliate during the Plan Year, and was a highly compensated active employee for either the separation year or any Plan Year ending on or after the Employee's 55th birthday.
(E) If an Employee is, during a Plan Year or look-back year, a Family Member of either (i) a 5% owner who is an active or former Employee or (ii) a Highly Compensated Employee who is one of the ten most highly compensated employees ranked on the basis of Compensation paid by the Employer or Affiliate during such year, then the Family Member and the 5% owner or top-ten Highly Compensated Employee shall be aggregated. In such case, the Family Member and 5% owner or top-ten Highly Compensated Employee shall be treated as a single Employee receiving Compensation and plan contributions or benefits equal to the sum of such Compensation and contributions or benefits of the Family Member and 5% owner or top-ten Highly Compensated Employee. For purposes of this section, Family Member ...
Highly Compensated Employee. The determination of who is a Highly Compensated Employee, including the determinations of the number and identify of employees in top-paid group, the top 100 employees, the number of employees treated as officers and the compensation that is considered, will be made in accordance with section 414(q) of the Code and the regulations thereunder.
Highly Compensated Employee. 2 Top-Heavy Determination ............. 7 1.14 XXX or SEP-XXX ..................... 2 5.3
Highly Compensated Employee. 3 1.17. Hour of Service.................................................................................4 1.18. Leased Employee.................................................................................5 1.19.
Highly Compensated Employee effective January 1, 1997, means an Employee described in Code section 414(q) and the Regulations thereunder, and generally means an Employee who performed services for the Employer during the “determination year” and is in one or more of the following groups:
(a) Employees who at any time during the determination year or the look-back year were Five Percent Owners.
(b) Employees who received 414(q) Compensation during the look-back year in excess of $80,000 (as adjusted at the same time and in the same manner as under Code section 415(d), except that the base period is the calendar quarter ending September 30, 1996).
(c) If so specified in the Adoption Agreement, at the Employer’s election, Employees considered in Section 1.30(b) above may be limited to Employees in the Top-Paid Group during the look-back year.
(d) For purposes of this Section 1.30 the “determination year” shall be the Plan Year for which testing is being performed, and the “look-back year” shall be the immediately preceding twelve-month period. The Employer may make a calendar year data election, under which election the look-back year shall be the calendar year beginning with or within the look-back year. Pursuant to Notice 97-45, the calendar year data election may not be used to determine whether an Employee is a Highly Compensated Employee under Section 1.30(a) above.
(e) A Top-Paid Group election under Section 1.30(c) and a calendar year data election under Section 1.30(d) must be applied consistently to the determination year of all plans of the Employer, except that the consistency requirement will not apply to determination years beginning with or within the 1997 calendar year, and for determination years beginning on or after January 1, 1998, and before January 1, 2000, satisfaction of the consistency requirement is determined without regard to any nonretirement plans of the Employer.
(f) The dollar threshold amounts specified in 1.30(b) above shall be adjusted at such time and in such manner as is provided in Code section 415(d) and the applicable Treasury Regulations.
(g) In determining who is a Highly Compensated Employee, Employees who are non-resident aliens and who received no earned income (within the meaning of Code section 911(d)(2)) from the Employer constituting United States source income within the meaning of Code section 861(a)(3) shall not be treated as Employees. Additionally, all Affiliated Employers shall be taken into account as a single Employer and Leased Em...
Highly Compensated Employee. An individual described in Code Section 414(q) who, during the current or preceding Plan Year: (a) Was a 5% owner as defined in Code Section 416(i)(1)(B)(i); (b) Received Compensation in excess of $50,000, as adjusted pursuant to Code Section 415(d), and was in the top-paid group (the top 20% of Employees ranked by Compensation); (c) Received Compensation in excess of $75,000, as adjusted pursuant to Code Section 415(d); or (d) Was an officer as defined in Code Section 416(i)(1)(A) and received Compensation in excess of 50% of the dollar limit on annual benefits payable under Code Section 415 for defined benefit plans. 1.13 INDIVIDUAL RETIREMENT ACCOUNT AIM Distributors, Inc. Individual Retirement Account which meets the requirements of Code Section 408(a) established in conjunction with the Employer's Plan (IRA), xs the recipient of the Employer's contributions for the benefit of a participating Employee.
Highly Compensated Employee. (a) For a particular Plan Year, any Employee (i) who, during the current or preceding Plan Year, was at any time a 5-percent owner (as such term is defined in section 416(i)(1) of the Code), or (ii) for the preceding Plan Year, received compensation from the Controlled Group in excess of the amount in effect for such Plan Year under section 414(q)(1)(B) of the Code.
Highly Compensated Employee. The term Highly Compensated Employee includes active Highly Compensated Employees and former Highly Compensated Employees.
(i) received compensation (as defined below) from the Employer in excess of seventy-five thousand dollars ($75,000) (as adjusted pursuant to section 415(d) of the Code); (ii) received compensation (as defined below) from the Employer in excess of fifty thousand dollars ($50,000) (as adjusted pursuant to section 415(d) of the Code) and was a member of the top-paid group (top twenty percent (20%) of non-excludable employees ranked by compensation (as defined below)) for such year; or (iii) was an officer of the Employer and received compensation (as defined below) during such year that is greater than fifty percent (50%) of the dollar limitation in effect under section 415(b)(1)(A) of the Code. The term Highly Compensated Employee also includes: (i) Employees who are both described in the preceding sentence if the term "determination year" is substituted for the term "look-back year" and the Employee is one (1) of the one hundred (100) Employees who received the most compensation (as defined below) from the Employer during the determination year; and (ii) Employees who are five percent (5%) owners at any time during the look-back year or determination year. If no officer has satisfied the compensation requirement of (iii) above during either a determination year or look-back year, the highest paid officer for such year shall be treated as a Highly Compensated Employee. For this purpose, the determination year shall be the Plan Year. Except as otherwise elected, as provided below, the look-back year shall be the twelve (12) month period immediately preceding the determination year.
