Common use of LIMITATIONS ON ALLOCATIONS Clause in Contracts

LIMITATIONS ON ALLOCATIONS. In any Limitation Year beginning prior to January 1, 2000 in which the Top-Heavy Ratio exceeds 90% (i.e., the Plan becomes Super Top-Heavy), the denominators of the Defined Benefit Fraction and Defined Contribution Fraction shall be computed using 100% of the dollar limitation instead of 125%.

Appears in 15 contracts

Samples: Defined Contribution Plan (1st Constitution Bancorp), Defined Contribution Plan (Wellesley Bancorp, Inc.), Defined Contribution Plan (Savannah Bancorp Inc)

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LIMITATIONS ON ALLOCATIONS. In any Limitation Plan Year beginning prior to January 1, 2000 in which the Top-Heavy Ratio exceeds 90% (i.e., the Plan becomes Super Top-Heavy), the denominators of the Defined Benefit Fraction (as defined in paragraph 1.15) and Defined Contribution Fraction (as defined in paragraph 1.18) shall be computed using 100% of the dollar limitation instead of 125%.

Appears in 8 contracts

Samples: 401(k) Plan Document (East West Bancorp Inc), 401(k) Plan Document (Inventa Technologies Inc), Non Standardized Adoption Agreement (Princeton Review Inc)

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