Common use of PARTICIPATION IN THIS PLAN AND A DEFINED BENEFIT 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 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 provisions set forth in the Adoption Agreement.

Appears in 3 contracts

Samples: 401(k) Plan Document (Berkshire Hills Bancorp Inc), Adoption Agreement (Oregon Trail Financial Corp), Cash or Deferred Profit Sharing Plan (Port Financial Corp)

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PARTICIPATION IN THIS PLAN AND A DEFINED BENEFIT. PLAN Plan If the Employer maintains, 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 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 provisions set forth in the Adoption Agreement.

Appears in 1 contract

Samples: Adoption Agreement (Westfield Financial Inc)

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