Common use of Participation In This Plan And A Defined Benefit Plan Prior To January 1, 2000 Clause in Contracts

Participation In This Plan And A Defined Benefit Plan Prior To January 1, 2000. For Limitation Years beginning prior to January 1, 2000, where the Employer maintained, or at any time maintained, a qualified Defined Benefit Plan covering any Participant in this Plan, the sum of the Participant’s Defined Benefit Plan Fraction and Defined Contribution Plan Fraction was limited to 1.0 in any Limitation Year. For any Plan Year prior to January 1, 2000 during which the Plan was Top-Heavy, the Defined Benefit and Defined Contribution Plan Fractions were calculated in accordance with Code Section 416(h) and the Annual Additions that may have been credited to the Participant’s account under this Plan for any Limitation Year were limited in accordance with the Adoption Agreement in effect at the time.

Appears in 7 contracts

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

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!