Matching formula. The matching formula for the Participating Employer(s) (Choose one of a. or b.):
a. [ ] All the same. Is (are) the same as for the Signatory Employer under this Election 24.
b. [ ] At least one different. Is (are) as follows: .
Matching formula a. [ ] N/A. There will not be any Employer matching contributions (skip to Question 31.).
b. [ ] The Employer … (select 1. or 2.)
1. [ ] may make matching contributions equal to a discretionary percentage, to be determined by the Employer, of the Participant's Elective Deferrals.
2. [ ] will make matching contributions equal to % (e.g., 50) of the Participant's Elective Deferrals, plus:
a. [ ] N/A.
b. [ ] an additional matching contribution of a discretionary percentage, to be determined by the Employer, but not to exceed % (leave blank if not applicable) of Compensation.
3. [ ] % of a Participant's Compensation. 4. [ ] $ .
Matching formula a. [X] Employer matching contribution as follows (select 1. or 2.):
1. [X] Discretionary. The Employer may make matching contributions equal to a discretionary percentage, to be determined by the Employer, of the Participant's Elective Deferrals.
a. [ ] Discretionary based on business units or location. The Employer may determine a separate discretionary matching contribution for Participants working in different business units or locations.
2. [ ] Fixed - uniform rate/amount. The Employer will make matching contributions equal to % (e.g., 50) of the Participant's Elective Deferrals, plus (select a. or leave blank if not applicable):
a. [ ] an additional matching contribution of a discretionary percentage determined by the Employer,
1. [ ] but not to exceed % of Compensation (leave blank if not applicable)
3. [ ] the percentage or dollar amount specified below (select one or both)
a. [ ] % of a Participant's Compensation.
b. [ ] $ .
4. [ ] a discretionary percentage of a Participant's Compensation or a discretionary dollar amount, the percentage or dollar amount to be determined by the Employer on a uniform basis for all Participants.
b. [ ] Discretionary - tiered. The Employer may make matching contributions equal to a discretionary percentage of a Participant's Elective Deferrals, to be determined by the Employer, of each tier, to be determined by the Employer. The tiers may be based on the rate of a Participant's Elective Deferrals or Years of Service.
Matching formula a. [X] Employer matching contribution as follows (select 1. or 2.):
1. [X] Flexible Discretionary Match. A "Flexible Discretionary Match" means a Matching Contribution which the Employer in its sole discretion elects to make to the Plan. Except as specified below, the Employer retains discretion over the formula or formulas for allocating the Flexible Discretionary Match, including the Discretionary Matching Contribution rate or amount, the limit(s) on Elective Deferrals or Employee Contributions subject to match, the per Participant match allocation limit(s), the Participants or categories of Participants who will receive the allocation, and the time period applicable to any matching formula(s) (collectively, the "Flexible Discretionary Matching Formula"), except as the Employer otherwise elects in its Adoption Agreement. Such contributions will be subject to the Instructions and Notice requirement of Section 12.12, reproduced below, unless the Employer elects to use a "Rigid Discretionary Match" in Election 29.A.a.1.a. below. The discretionary matching contribution under this Question 29.A.a. is a "Flexible Discretionary Match" unless the Employer elects to use a "Rigid Discretionary Match." (Choose a. if applicable.)
a. [ ] Rigid Discretionary Match. A "Rigid Discretionary Match" means a Matching Contribution which the Employer in its sole discretion elects to make to the Plan. Such discretion will only pertain to the amount of the annual contribution. The Employer must select the allocation method for this Contribution by selecting among those Adoption Agreement options which confer no Employer Discretion regarding the allocation of such discretionary amount, for example, the limit(s) on Elective Deferrals or Employee Contributions subject to match, the per Participant match allocation limit(s), the Participants who will receive the allocation, and the time period applicable to any matching formula(s). This "Rigid Discretionary Match" is not subject to the Instructions and Notice requirement of Section 12.12.
Matching formula a. [ ] Employer matching contribution as follows (select 1. or 2.):
Matching formula a. [ ] N/A. There will not be any additional Employer matching contributions
b. [ ] The Employer … (select 1. or 2.)
Matching formula a. [ ] Employer matching contribution as follows (select 1. or 2.): DRAFT
1. [ ] Discretionary. The Employer may make a matching contribution equal to an amount determined by the Employer, of each Participant's Elective Deferrals. The Employer retains discretion overSuch discretion will only pertain to the amount of the contribution. The Employer must select the discretionary matching Contribution rate or amount, the limit(s) on Elective Deferrals or Employee Contributions subject to match, the per Participant match allocation limit(s), the Participants who will receive the allocation, and the time period applicable to any matching formula(s) (collectively, the "matching formula"), except as the Employer otherwise elects in its Adoption Agreement.
2. [ ] Fixed - uniform rate/amount. The Employer will make matching contributions equal to % (e.g., 50) of the Participant's Elective Deferrals, plus (select a. or leave blank if not applicable):
a. [ ] an additional matching contribution of a discretionary percentage determined by the Employer,
1. [ ] but not to exceed % of Compensation (leave blank if not applicable) 4/2/2020
3. [ ] the percentage or dollar amount specified below (select one or both)
a. [ ] % of a Participant's Compensation.
b. [ ] $ .
4. [ ] a discretionary percentage of a Participant's Compensation or a discretionary dollar amount, the percentage or dollar amount to be determined by the Employer on a uniform basis for all Participants.
b. [ ] Discretionary - tiered. The Employer may make matching contributions equal to a discretionary percentage of a Participant's Elective Deferrals, to be determined by the Employer, of each tier, to be determined by the Employer. The tiers may be based on the rate of a Participant's Elective Deferrals or Years of Service.
Matching formula. Type, Rate/Amount, Limitations and Time Period. The Employer in its Adoption Agreement must elect the type(s) of Matching Contributions (Fixed or Discretionary Matching Contributions), and as applicable, the Matching Contribution rate(s)/amount(s), the limit(s) on Elective Deferrals or Employee Contributions subject to match, the limit(s) on the amount of Matching Contributions, and the time period the Plan Administrator will apply in the computation of any Matching Contributions. If the Employer in its Adoption Agreement elects to apply any limit on Matching Contributions based on pay periods or on any other time period which is less than the Plan Year, the Plan Administrator will determine the limits in accordance with the time period specified and will not take into account any other Compensation or Elective Deferrals not within the applicable time period, even in the case of a Participant who becomes eligible for the match mid-Plan Year and regardless of the Employer’s election as to Pre-Entry Compensation.
Matching formula. Type, Rate/Amount, Limitations and Time Period. Except as provided in Section 3.03(C)(2), the Employer in its Adoption Agreement must elect the type(s) of Matching Contributions (Fixed or Discretionary Matching Contributions), and as applicable, the Matching Contribution rate(s)/amount(s), the limit(s) on Elective Deferrals or Employee Contributions subject to match, the limit(s) on the amount of Matching Contributions, and the time period the Plan Administrator will apply in the computation of any Matching Contributions. If the Employer in its Adoption Agreement elects to apply any limit on Matching Contributions based on pay periods or on any other time period which is less than the Plan Year, the Plan Administrator will determine the limits in accordance with the time period specified and will not take into account any other Compensation or Elective Deferrals not within the applicable time period, even in the case of a Participant who becomes eligible for the match mid‑Plan Year and regardless of the Employer's election as to Pre‑Entry Compensation. If the Employer in its Adoption Agreement elects to use "Participating Compensation" for Matching Contributions, the Plan Administrator will take Elective Deferrals into account in computing Matching Contributions only if the Elective Deferrals were made after the Participant became eligible for the match. An Employee becomes "eligible for the match" when the Employee becomes a Participant in the Matching Contribution portion of the plan.
Matching formula. The (e) [ ] Fixed – multiple formulas Formula 1: Formula 2: