Integrated Formula. The Employer Contribution shall be allocated in the manner described in Section 4.01(B)(2) of the Plan. Suboption (a): The Taxable Wage Base (TWB).
Integrated Formula. ¨ Profit sharing contributions shall be allocated to each eligible Member’s Account in a uniform percentage (specified by the Employer as %) of each Member’s Salary during the Contribution Determination Period (“Base Contribution Percentage”) for the Plan Year that includes such Contribution Determination Period, plus a uniform percentage (specified by the Employer as %, but not in excess of the lesser of (i) the Base Contribution Percentage and (ii) the greater of (1) 5.7% or (2) the percentage equal to the portion of the Code Section 3111(a) tax imposed on employers under the Federal Insurance Contributions Act (as in effect as of the beginning of the Plan Year) which is attributable to old-age insurance) of each Member’s Salary for the Contribution Determination Period in excess of the Social Security Taxable Wage Base (“Excess Salary”) for the Plan Year that includes such Contribution Determination Period, in accordance with Article III of the Plan.
Integrated Formula. For each Plan Year, the Employer will contribute an amount equal to: A Base Contribution of % (not less than 3%) of each eligible Participant's Compensation plus an Excess Allowance equal to a percentage of each eligible Participant's Excess Compensation. Excess Compensation is the excess of total Compensation over the Integration Level. The Excess Allowance Percentage and the Integration Level are: [ ] ( i) Excess Allowance Percentage: (not less than 3% and not greater than 5.7%) Integration Level:
Integrated Formula. An amount equal to the sum of the amounts determined in Step 1 and 2:
Step 1. An amount equal to percent (the base contribution percentage) Year up to the integration level; plus
Step 2. An amount equal to percent (the excess contribution percentage, which is the base contribution percentage plus an additional percentage that cannot exceed the base contribution percentage by more than the lesser of: (1) the base contribution percentage, or (2) the money purchase maximum disparity rate as described in Plan Section 3.04(B)(2)) of such The integration level will be (select one):
(a) The Taxable Wage Base.
Integrated Formula. In proportion to Compensation and Excess Compensation as follows: First, in proportion to Compensation for such Plan Year but not in excess of 3% of each Participant’s Top Heavy Compensation. Second, in proportion to Excess Compensation for such Plan Year but not in excess of 3% of each Participant’s Compensation. For purposes hereof, in the case of any Participant who has exceed the cumulative permitted disparity limit described in the Plan, such Participant’s total Compensation for the Plan Year will be taken into account. The First and Second steps described above shall only be used in a year in which the Plan is a Top Heavy Plan and shall be considered to be the top heavy required minimum contribution with respect to the Participants to whom allocated. Third in proportion to the sum of the Compensation and Excess Compensation for such Plan Year of each Covered Participant for such Plan Year, provided that there shall not be so allocated to the account of any Participant an amount in excess of the product obtained by multiplying the sum such Covered Participant’s Compensation and Excess Compensation for such Plan Year by the Applicable Integration Rate, but not in excess of the profit sharing maximum disparity limit described in the Plan. For purposes hereof, in the case of a Participant who has exceeded the cumulative permitted disparity limit described in the Plan, two times such Participant’s Total Compensation for the Plan Year shall be taken into account and Then any remaining contribution shall be allocation in proportion to their Compensation for such Plan Year.
Integrated Formula. Subject to the overall permitted disparity limits, Discretionary Contributions and Forfeitures, if applicable, shall be allocated as follows:
Integrated Formula. (i) Notwithstanding any section of the plan to the contrary, this subsection (i) applies to the allocation of employer contributions under a profit-sharing plan or employer supplemental profit-sharing contributions to a 401(k) plan where the employer elected an integrated formula in the adoption agreement. However, the integrated formula shall not be taken into account with respect to 401(k) plan contributions. Employer contributions for the plan year plus any forfeitures will be allocated to participant's accounts as follows: Step One: Contributions and forfeitures will be allocated to each participant's account in the ratio that each participant's total compensation bears to all participants' total compensation, but not in excess of 3% of each participant's compensation. Step Two: Any contributions and forfeitures remaining after the allocation in Step One will be allocated to each participant's account in the ratio that each participant's compensation for the plan year in excess of the integration level bears to the excess compensation of all participants but not in excess of 3% of each Participant's Plan Compensation. For purposes of this Step Two, in the case of any Participant who has exceeded the cumulative permitted disparity limit described below, such Participant's total Plan Compensation for the Plan Year will be taken into account.
Integrated Formula. Employer Profit Sharing Contributions shall be allocated as follows (Start with Step 3 if this Plan is not a Top-Heavy Plan);
Step 1. Employer Profit Sharing Contributions shall first be allocated pro rata to Qualifying Participants in the manner described in Section 11, Part B, Option 1. The percent so allocated shall not exceed 3% of each Qualifying Participant's Compensation.
Step 2. Any Employer Profit Sharing Contributions remaining after the allocation in Step 1 shall be allocated to each Qualifying Participant's Individual Account in the ratio that each Qualifying Participant's Compensation for the Plan Year in excess of the integration level bears to all Qualifying Participants' Compensation in excess of the integration level, but not in excess of 3%.
Step 3. Any Employer Profit Sharing Contributions remaining after the allocation in Step 2 shall be allocated to each Qualifying Participant's Individual Account in the ratio that the sum of each Qualifying Participant's total Compensation and Compensation in excess of the integration level bears to the sum of all Qualifying Participants' total Compensation and Compensation in excess of the integration level, but not in excess of the profit sharing maximum disparity rate as described in Section 3.01(B)(3) of the Plan.
Step 4. Any Employer Profit Sharing Contributions remaining after the allocation in Step 3 shall be allocated pro rata to Qualifying Participants in the manner described in Section 11, Part B, Option 1. The integration level shall be (choose one):
Integrated Formula. If an election is made in the Adoption Agreement to permit integration of Non-Elective Employer Contributions, then subject to any top heavy minimum allocation required under Article XII, the total Non-Elective Employer Contributions for each Plan Year will be allocated to each Participant's Individual Account as follows:
Integrated Formula. A % as specified in Section 3.01 (b) (i) or (ii) of the Adoption Agreement, of each Participant's Compensation (in Top-Heavy Plan Years the contribution shall be the greater of the amount shown or 3% of Compensation), plus a % as specified in Section 3.01(b) (iii) of the Adoption Agreement (excess contribution percentage) of each Participant's Compensation in excess of the integration level [may not be greater than the lesser of the percentage in A-3.01 (b) (i) or the maximum disparity rate]. However, in the case of any Participant who has exceeded the Cumulative Permitted Disparity Limit, the Employer will contribute for each such Participant an amount equal to the excess contribution percentage multiplied by the Participant's total Compensation.
