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: Standarized Adoption Agreement (Oregon Trail Financial Corp), Berkshire Hills Bancorp Inc, Port Financial Corp

AutoNDA by SimpleDocs

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: Westfield Financial Inc

AutoNDA by SimpleDocs

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, #02002, #02003 or #02004) covering any Participant in this Plan, the sum of the ParticipantParticipant '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: Professionals Insurance Co Management Group

Time is Money Join Law Insider Premium to draft better contracts faster.