Common use of Pro Rata Allocation Clause in Contracts

Pro Rata Allocation. The Employer Contribution under AA §6-2 will be allocated as a uniform percentage of Plan Compensation or as a uniform dollar amount. If a fixed Employer Contribution is selected in AA §6-2(b), the Employer Contribution will be allocated in accordance with the selections made in AA §6-2(b). If both a discretionary and fixed Employer Contribution is selected in AA §6-2, this subsection (a) may be selected for both contribution formulas.

Appears in 3 contracts

Samples: 401(k) Plan Adoption Agreement, Nonstandardized Prototype Profit Sharing/401(k) Plan Adoption Agreement, 401(k) Plan Adoption Agreement

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Pro Rata Allocation. The discretionary Employer Contribution under AA §6-2 will be allocated allocated: (1) as a uniform percentage of Plan Compensation or Compensation.  (2) as a uniform dollar amount. If a fixed Employer Contribution is selected in AA §6-2(b), the Employer Contribution will be allocated in accordance with the selections made in AA §6-2(b). If both a discretionary and fixed Employer Contribution is selected in AA §6-2, this subsection (a) may be selected for both contribution formulas.

Appears in 1 contract

Samples: Nonstandardized Profit Sharing/401(k) Plan Adoption Agreement

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