Common use of Participation In This Plan And A Defined Benefit Plan Clause in Contracts

Participation In This Plan And A Defined Benefit Plan. If the Employer maintains, or at any time maintained, a qualified Defined Benefit Plan (other than Paired Plan #02001 or #02002) covering any Participant in this Plan, the sum of the Participant’s Defined Benefit Plan Fraction and Defined Contribution Plan Fraction will not exceed 1.0 in any Limitation Year. For any Plan Year during which the Plan is Top-Heavy, the Defined Benefit and Defined Contribution Plan Fractions shall be calculated in accordance with Code Section 416(h). The Annual Additions which may be credited to the Participant’s account under this Plan for any Limitation Year will be limited in accordance with the Adoption Agreement. This paragraph does not apply for Limitation Years beginning on or after January 1, 2000.

Appears in 5 contracts

Samples: Prototype Defined Contribution Plan (United Community Bancorp), Prototype Defined Contribution Plan (FNB United Corp.), Idt Corp

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Participation In This Plan And A Defined Benefit Plan. If the Employer maintains, or at any time maintained, a qualified Defined Benefit Plan (other than Paired Plan #02001 or #02002,) covering any Participant in this Plan, the sum of the Participant’s Defined Benefit Plan Fraction and Defined Contribution Plan Fraction will not exceed 1.0 in any Limitation Year. For any Plan Year during which the Plan is Top-Heavy, the Defined Benefit and Defined Contribution Plan Fractions shall be calculated in accordance with Code Section 416(h). The Annual Additions which may be credited to the Participant’s account under this Plan for any Limitation Year will be limited in accordance with the Adoption Agreement. This paragraph does not apply for Limitation Years beginning on or after January 1, 2000.

Appears in 2 contracts

Samples: Nonstandardized Adoption Agreement (Chicopee Bancorp, Inc.), Prototype Defined Contribution Plan (Georgetown Bancorp, Inc.)

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