Prevailing Wage Contribution. Notwithstanding Section 4.10(D)(1), the Plan Administrator may count in the ADP test QNECs which are Prevailing Wage Contributions to the extent that such QNECs do not exceed 10% of Compensation. The Plan Administrator also may count in the ACP test a QNEC which is a Prevailing Wage Contribution up to an additional 10% of Compensation, such that the combined QNEC amount does not exceed 20% of Compensation and not more than 10% in either test.
Appears in 5 contracts
Samples: Defined Contribution Pre Approved Plan (J&j Snack Foods Corp), Defined Contribution Prototype Plan and Trust Agreement (Bob Evans Farms Inc), 401(k) Plan Adoption Agreement (Knowles Corp)
