Qualified Automatic Contribution Arrangement Sample Clauses

Qualified Automatic Contribution Arrangement. (QACA). If elected under this AA §IA2-6, the Plan

Qualified Automatic Contribution Arrangement. (“QACA”) means the feature described in and satisfying all requirements referenced in this Section. The QACA shall not be a “top-heavy plan” in accordance with Code Section 416(g)(4)(H).

Qualified Automatic Contribution Arrangement. If elected by the Employer in the Adoption Agreement, the Automatic Contribution Arrangement will be a Qualified Automatic Contribution Arrangement that meets all the requirements of Code section 401(k)(13). The automatic contribution amounts elected in the Adoption Agreement for each Participant must meet the following percentages, during the following time periods: (i) 3% of such Participant’s Compensation, which period shall begin on the date that the first automatic Elective Deferral Contribution is made on the Participant’s behalf (the “initial automatic enrollment date”) and ending on the last day of the first Plan Year that begins after the initial automatic enrollment date; (ii) 4% during the first Plan Year following the period described in (i); (iii) 5% during the second Plan Year following the period described in (i); and (iv) 6% during any subsequent Plan Year, never to exceed 10% of compensation.” 9. The language in Subsection (f)

Qualified Automatic Contribution Arrangement. Paragraph 3.5

Qualified Automatic Contribution Arrangement. The term “Qualified Automatic Contribution Arrangement” means the definition of Section 3.3 of this Amendment.

Qualified Automatic Contribution Arrangement. If elected by the Sponsoring Employer in the Election Form, this Section establishes/memorializes a Qualified Automatic Contribution Arrangement (“QACA”) and is effective as of the date elected in the Election Form, and the Plan is subject to the following provisions:

Qualified Automatic Contribution Arrangement. The term “Qualified Automatic Contribution Arrangement” means an Automatic Contribution Arrangement that meets all of the requirements set forth in Code §401(k)(13)(B) including, but not limited to, the applicable Qualified Percentage for the Applicable Plan Year (which terms are defined in the administrative policy regarding Elective Deferrals), the required QACA Contributions, and the applicable notice requirements.

Qualified Automatic Contribution Arrangement. The automatic contribution arrangement described in Sections (b) and (c) (if applicable) of this Addendum shall constitute a qualified automatic contribution arrangement described in Code Section 401(k)(13) (“QACA”), initially effective as of the following date: (can be no earlier than the first day of the first plan year beginning after December 31, 2007). (1) ¨ QACA Matching Employer Contribution Formula. Matching Employer Contributions used to satisfy the QACA must vest at least as rapidly as 100% once the Participant is credited with two Years of Service. (A) ¨ 100% of the first 1% of the Active Participant’s Compensation contributed to the Plan and 50% of the next 5% of the Active Participant’s Compensation contributed to the Plan. Note: If the Employer selects this formula and does not elect Subsection 1.11(b) (or Subsection 1.11(f) through the Additional Provisions Addendum, as appropriate), Additional Matching Employer Contributions, Matching Employer Contributions will automatically meet the safe harbor contribution requirements for deemed satisfaction of the “ACP” test. (Employee Contributions must still be tested for “ACP” test purposes.) (B) (i) ¨ Other Enhanced Match: % of the first % of the Active Participant’s Compensation contributed to the Plan, % of the next % of the Active Participant’s Compensation contributed to the Plan, % of the next % of the Active Participant’s Compensation contributed to the Plan.