Common use of Money Purchase Pension Plan Clause in Contracts

Money Purchase Pension Plan. If this Plan is adopted as a Money Purchase Pension Plan, the Forfeitures and the Employer Contribution actually made under section 5.2 (as adjusted, if applicable, in accordance with section 12.3(h)(2) for a Top-Heavy Plan) shall be allocated (and posted) as of the last day of each Plan Year to the Employer Account of each Active Participant in accordance with the formula specified in the Adoption Agreement. If Forfeitures are applied to reduce the Employer Contribution and the Forfeitures available under section 8.2(e) for any Plan Year exceed the contribution specified in the Adoption Agreement for such Plan Year, such excess shall be held in a separate account and shall be applied in full as a Forfeiture to offset such contributions in the future until such account is exhausted under this section 6.3(b). If Forfeitures are to be allocated to Active Participants, such Forfeitures shall be allocated (and posted) to the Employer Account of each Active Participant in the same ratio that such Active Participant's Compensation for such Plan Year bears to the total Compensation of all such Active Participants for such Plan Year.

Money Purchase Pension Plan. If this Plan is adopted as a Money Purchase Pension Plan, the Forfeitures and the Employer Contribution actually made under section 5.2 (as S)5.2 (adjusted, if applicable, in accordance with section 12.3(h)(2(S)12.3(h)(2) for a Top-Heavy Plan) shall be allocated (and posted) as of the last day of each Plan Year to the Employer Account of each Active Participant in accordance with the formula specified in the Adoption Agreement. If Forfeitures are applied to reduce the Employer Contribution and the Forfeitures available under section 8.2(e(S)8.2(e) for any Plan Year exceed the contribution specified in the Adoption Agreement for such Plan Year, such excess shall be held in a separate account and shall be applied in full as a Forfeiture to offset such contributions in the future until such account is exhausted under this section 6.3(b(S)6.3(b). If Forfeitures are to be allocated to Active Participants, such Forfeitures shall be allocated (and posted) to the Employer Account of each Active Participant in the same ratio that such Active Participant's Compensation for such Plan Year bears to the total Compensation of all such Active Participants for such Plan Year.