Plan Provision. FIRST PLAN YEAR TESTING ELECTIONS For a new 401(k) Plan, the Employer could use either the current or prior year testing methods as well as a rule that deems the prior year ADP/ACP to be 3%.
Appears in 3 contracts
Samples: Nonstandardized Adoption Agreement (Jda Software Group Inc), Adoption Agreement (Thomasville Bancshares Inc), Nonstandardized Adoption Agreement (Banctrust Financial Group Inc)
Plan Provision. FIRST PLAN YEAR TESTING ELECTIONS First Plan Year Testing Elections For a new 401(k) Plan, the Employer could use either the current or prior year testing methods as well as a rule that deems the prior year ADP/ACP to be 3%.
Appears in 1 contract
