Qualified Non-Elective Contributions (QNEC). For purposes of the ACP Test, only the Non-Elective Contributions made to the Plan that are needed to meet Actual Contribution Percentage Test will be deemed “Qualified” for purposes of calculating the Actual Contribution Percentage. All such Non-Elective Contributions used must be fully vested when made and are not available for in-service withdrawal.
Appears in 2 contracts
Samples: Adoption Agreement, Adoption Agreement
Qualified Non-Elective Contributions (QNEC). a. For purposes of the ADP or ACP Test, only the all Non-Elective Contributions made to the Plan that are needed to meet Actual Contribution Percentage Test will be deemed “"Qualified” " for purposes of calculating the Actual Deferral Percentage and/or Actual Contribution Percentage. All such Non-Elective Contributions used must be fully vested when made and are not available for in-service withdrawal.
Appears in 1 contract
Samples: Nonstandardized Adoption Agreement (Sontra Medical Corp)
Qualified Non-Elective Contributions (QNEC). [ ] a. For purposes of the ADP and ACP TestTests, only the all Non-Elective Contributions made to the Plan that are needed to meet Actual Contribution Percentage Test will be deemed “Qualified” for purposes of calculating the Actual Deferral Percentage and/or Actual Contribution Percentage. All such Non-Elective Contributions used must be fully vested when made and are not available for in-service withdrawalmade.
Appears in 1 contract
Samples: Adoption Agreement (Connecticut Water Service Inc / Ct)
