Qualified Automatic Contribution Arrangement (QACA). Effective for Plan Years beginning after December 31, 2007, and if elected in the Adoption Agreement, the Employer will maintain a Qualified Automatic Contribution Arrangement for the purpose of satisfying the nondiscrimination requirements for Elective Deferrals and Matching Contributions under Code Sections 401(k) and 401(m). For purposes of the nondiscrimination requirements, a Qualified Automatic Contribution Arrangement is defined as any cash or deferred arrangement that satisfies certain requirements with respect to automatic deferrals, Matching or Non-Elective Contributions and timely notice to Employees.
Appears in 3 contracts
Samples: Prototype Defined Contribution Plan, Prototype Defined Contribution Plan, Prototype Defined Contribution Plan (1st Constitution Bancorp)
Qualified Automatic Contribution Arrangement (QACA). Effective for Plan Years beginning after December 31, 2007, and if If elected in the Adoption Agreement, then effective beginning with the Plan Year indicated therein, the Employer will maintain a Qualified Automatic Contribution Arrangement for the purpose of satisfying the nondiscrimination requirements for Elective Deferrals and Matching Contributions under Code Sections 401(k) and 401(m). For purposes of the Code’s nondiscrimination requirements, a Qualified Automatic Contribution Arrangement is defined as any cash or deferred arrangement that satisfies certain Code requirements with respect to automatic deferrals, Matching or Non-Elective Contributions and timely notice to Employees.
Appears in 2 contracts
Samples: Participation Agreement (Sterling Chemicals Inc), Sterling Chemicals Inc
