PURPOSE OF ARTICLE AND PRIMACY OF TESTS Sample Clauses

PURPOSE OF ARTICLE AND PRIMACY OF TESTS. This Article attempts to ensure that Participants do not make excessive Salary Reduction Contributions, Deferred Cash Contributions and/or Nondeductible Voluntary Contributions. (a) In the cases of the limitations discussed in Sections 6.05 and 6.07 below, if a Participant were to make such excess contributions and if the Participant and Employer fail to promptly undertake appropriate corrective action, the Employer would be subject to liability for a federal excise tax under Code Section 4979 and the Plan would lose its qualified status. Sections 6.03 and 6.04 below apply Code Section 402(g)'s requirements with respect to the maximum permissible amount of elective deferrals made by an individual for a single calendar year. Sections 6.05 and 6.06 below apply Code Section 401(k)'s nondiscrimination rules to Participant's Salary Reduction Contributions and Deferred Cash Contributions. Sections 6.07 and 6.08 below apply the requirements of Code Section 401(m)'s nondiscrimination rules to allocations of Participant's Employer Matching Contributions and Nondeductible Voluntary Contributions. (b) The Sections of this Article should be applied in ascending order. First, with respect to the calendar year ending coincident with, or during a given Plan Year, the Administrator shall take all actions necessary to ensure that the discrimination tests applicable to Employer Matching Contributions and Nondeductible Voluntary Contributions (as discussed in Sections 6.07 and 6.08 below) are satisfied.
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