Prior Year Testing. If elected by the Employer in the Adoption Agreement, the ADP for a Plan Year for Participants who are Highly Compensated Employees for each Plan Year and the Prior Plan Year’s ADP for Participants who were Non-Highly Compensated Employees for the Prior Plan Year must satisfy the basic limit set forth in (1) or the alternative limit set forth at (2):
Appears in 11 contracts
Sources: Defined Contribution Plan, Defined Contribution Plan, Defined Contribution Plan (1st Constitution Bancorp)
Prior Year Testing. If elected by the Employer in the Adoption Agreement, the ADP ACP for a Plan Year for eligible Participants who are Highly Compensated Employees for each Plan Year and the Prior prior Plan Year’s ADP ACP for eligible Participants who were Non-Highly Compensated Employees for the Prior Plan Year must satisfy one of the basic limit set forth in (1) or the alternative limit set forth at (2):following tests:
Appears in 5 contracts
Sources: Defined Contribution Plan (Georgetown Bancorp, Inc.), Defined Contribution Plan (Idt Corp), Defined Contribution Plan (Chicopee Bancorp, Inc.)
Prior Year Testing. If elected by the Employer in the Adoption Agreement, the ADP ACP for a Plan Year for eligible Participants who are Highly Compensated Employees for each Plan Year and the Prior Plan Year’s ADP ACP for eligible Participants who were Non-Highly Compensated Employees for the Prior Plan Year must satisfy one of the basic limit set forth in (1) or the alternative limit set forth at (2):following tests:
Appears in 3 contracts
Sources: Defined Contribution Plan, Defined Contribution Plan (1st Constitution Bancorp), Adoption Agreement (Sterling Chemicals Inc)