Minimum Contribution Requirement. For each Plan Year in which the Plan is Top Heavy, the Employer shall not allow any contributions (other than a Rollover Contribution from a plan maintained by a non-related employer) to be made by or on behalf of any Key Employee unless the Employer makes a contribution (other than contributions made by an Employer in accordance with a Participant's salary deferral election or contributions made by an Employer based upon the amount contributed by a Participant) on behalf of all Participants who were Eligible Employees as of the last day of the Plan Year in an amount equal to at least 3% of each such Participant's Taxable Income. The Administrator shall remove any such contributions (including applicable investment gain or loss) credited to a Key Employee's Account in violation of the foregoing rule and return them to the Employer or Employee to the extent permitted by the Limited Return of Contributions paragraph of Section 18.
Minimum Contribution Requirement. For each Plan Year in which the Plan is Top Heavy, the Employer shall not allow any contributions (other than a Rollover Contribution from a plan maintained by a non Related Company) to be made by or on behalf of any Key Employee unless the Employer makes a contribution (other than contributions made by an Employer in accordance with a Participant's salary deferral election or contributions made by an Employer based upon the amount contributed by a Participant) on behalf of all Participants who were Eligible Employees as of the last day of the Plan Year in an amount equal to at least 3% of each such Participant's Taxable Income.
Minimum Contribution Requirement. For each Plan Year in which the Plan is Top Heavy, the Employer shall not allow any contributions (other than a Rollover Contribution) to be made by or on behalf of any Key Employee unless the Employer makes a contribution (other than Pre-Tax and Matching Contributions) on behalf of all Participants who were Eligible Employees as of the last day of the Plan Year in an amount equal to at least 3% of each such Participant's Compensation. The Administrator shall remove any such contributions (including applicable investment gain or loss) credited to a Key Employee's Account in violation of the foregoing rule and return them to the Employer or Employee to the extent permitted by the Limited Return of Contributions paragraph of Section 18.
Minimum Contribution Requirement. The Enrolling Group must maintain a minimum contribution requirement of 86% of the Premium for each Eligible Person.
Minimum Contribution Requirement. If the Plan is a Top‑Heavy Plan for any Plan Year:
(a) Each Non‑Key Employee who is eligible to share in any Employer Contribution for such Plan Year (or who would have been eligible to share in any such Employer Contribution if a Before‑Tax Contribution had been made for him during such Plan Year) shall be entitled to receive an allocation of such Employer Contribution, which is at least equal to three percent (3%) of his Compensation for such Plan Year.
(b) The three percent (3%) minimum contribution requirement under paragraph (a) above for a Non‑Key Employee shall be increased to four percent (4%) if the Employer maintains a Defined Benefit Plan that does not cover such Non‑Key Employee.
(c) The percentage minimum contribution requirement set forth in paragraphs (a) and (b) above with respect to a Plan Year shall not exceed the percentage at which Employer Contributions are made (or required to be made) under the Plan for such Plan Year for the Key Employee for whom such percentage is the highest for such Year.
(d) The percentage minimum contribution requirement set forth in paragraphs (b) and (c) above may also be reduced or eliminated in accordance with Section 15.6(2).
(e) For the purpose of paragraph (a) above, contributions taken into account shall include like contributions under all other Defined Contribution Plans in the Required Aggregation Group, excluding any such plan in the Required Aggregation Group if that plan enables a Defined Benefit Plan in such Required Aggregation Group to meet the requirements of section 401(a)(4) or section 410 of the Code.
(f) For the purpose of this Section, the term “Employer Contributions” shall include Before-Tax Contributions and Matching Employer Contributions made for an Employee; provided, however, that Matching Employer Contributions taken into account in satisfying the percentage minimum contribution requirement set forth in paragraphs (a) and (b) above shall be treated as matching contributions for purposes of the actual contribution percentage test and other requirements of section 401(m) of the Code.
Minimum Contribution Requirement. It is intended that the Company will meet the minimum benefit and contribution requirements of Code section 416(c) by providing a minimum benefit which complies with that section under the Company's defined benefit plan for such Plan Year for each Participant who is a Non-Key Employee. If, however, such minimum benefit is not so provided under said plan, then this Plan will provide a minimum contribution allocation (which may include forfeitures otherwise allocable) for such Plan Year for each Participant who is a Non-Key Employee and who has not separated from service (regardless of whether the Participant fails to complete 1,000 Hours of Service during the Plan Year and regardless of whether the Participant declines to make a Salary Deferral Contribution to the Plan in that Plan Year) in an amount equal to at least three percent (3%) of such Participant's compensation (as that term is defined in section 415 of the Code) for such Plan Year. Such three percent (3%) minimum contribution allocation requirement shall be increased to four percent (4%) for any year in which the Company also maintains a defined benefit pension plan if such increase is necessary to avoid the substitution of "
Minimum Contribution Requirement. For each Plan Year in which the Plan is Top Heavy, the Employer shall not allow any contributions (other than a Rollover Contribution) to be made by or on behalf of any Key Employee unless the Employer makes a contribution (other than contributions made by an Employer in accordance with a Participant’s salary deferral election or contributions made by an Employer based upon the amount contributed by a Participant) on behalf of each Participant who was an Eligible Employee as of the last day of the Plan Year, regardless of whether the Participant was credited with at least 1,000 Hours of Service during such Plan Year, in an amount equal to at least 3% of each Participant’s Compensation. Employer matching contributions shall be taken into account for purposes of satisfying the minimum contribution requirements of Code Section 416(c)(2) and the Plan. Employer matching contributions that are used to satisfy the minimum contribution requirements shall be treated as matching contributions for purposes of the actual contribution percentage test and other requirements of Code Section 401(m). The Administrative Committee shall remove any such contributions (including applicable investment gain or loss) credited to a Key Employee’s Account in violation of the foregoing rule and return them to the Employer or Employee to the extent permitted by Section 18.4, Limited Return of Contributions.
Minimum Contribution Requirement. Except as otherwise provided in Section 16.03 of the Plan, if the Plan is a Top-Heavy Plan for a Plan Year, the minimum contribution requirements of Code subsection 416(c) will be satisfied by the Employer as follows:
(a) the Employer will contribute on behalf of each Non-Key Employee who is both a Participant and an Employee on the last day of the Plan Year (regardless of the Participant's Hours of Service during the Plan Year) a contribution that, together with any contribution otherwise made on behalf of the Employee to the Plan or another defined contribution plan of the Employer, is not less than the lesser of (1) 3% of the Employee's Regulatory Compensation for the Plan Year or (2) the percentage at which contributions are made (or required to be made) under the Plan and under any other defined contribution plan for the Plan Year for the Key Employee for whom the percentage is the highest for the Plan Year. That percentage will be determined for each Key Employee by dividing the contributions for that Employee by his Regulatory Compensation for the Plan Year.
Minimum Contribution Requirement. For any Plan Year with respect to which the Plan is a Top-Heavy Plan, the employer contributions allocated to each Active Participant who is not a Key Employee and whose Termination of Service has not occurred prior to the end of such Plan Year shall not be less than the minimum amount determined in accordance with the following:
(a) The minimum amount shall be the amount equal to that percentage of the Participant’s Testing Wages for the Plan Year which is the smaller of:
(1) 3%.
(2) The percentage which is the largest percentage of Testing Wages allocated to any Key Employee from employer contributions and Forfeitures for such Plan Year.
(b) For purposes of this Section, any employer contribution attributable to a Deferral or similar arrangement shall be taken into account with respect to Key Employees but not with respect to other employees.
(c) This Section shall not apply to any Participant who is covered under any other plan of the employer under which the minimum contribution or minimum benefit requirement applicable to Top-Heavy Plans will be satisfied.
(d) Matching Allocations or, if the Plan provides that the minimum benefit requirement shall be met in another plan, matching contributions under such other plan shall be taken into account for purposes of satisfying the minimum benefit requirements of Code §416(c)(2). Matching Contributions that are used to satisfy the minimum benefit requirements shall be treated as Matching Allocations for purposes of the requirements of Code §401(m).
Minimum Contribution Requirement. In the event the Plan is a Top-Heavy Plan for any Plan Year, a minimum contribution shall be made on behalf of each Participant who is a Non-Key Employee on the last day of the Plan Year in an amount which, together with the amount of Matching Contributions and Special Employing Company Contributions allocable to such Participant’s Accounts for the Plan Year, will equal seven and one-half percent (7-1/2%) of such Participant’s Annual Compensation for the Plan Year.
