Common use of Safe Harbor Rules Of Application Clause in Contracts

Safe Harbor Rules Of Application. The Employer may elect in a cash or deferred adoption agreement to apply the safe harbor plan provisions found in paragraphs 11.10 through 11.17. Except as otherwise permitted, an Employer must elect the Safe Harbor Plan provisions and must satisfy the notice requirements of paragraph 11.16 prior to the beginning of the Plan Year to which the Safe Harbor provisions will be applied. The Employer must apply the Safe Harbor provisions for the entire Plan Year, including any short Plan Year. An Employer who elects in the Adoption Agreement and operationally satisfies the Safe Harbor provisions of paragraphs 11.10 through 11.17 is not subject to the nondiscrimination requirements of 11.

Appears in 5 contracts

Samples: Defined Contribution Plan (Georgetown Bancorp, Inc.), Defined Contribution Plan (Idt Corp), Defined Contribution Plan (Chicopee Bancorp, Inc.)

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Safe Harbor Rules Of Application. (a) The Employer may elect in a cash or deferred adoption agreement to apply the safe harbor plan provisions found in paragraphs 11.10 through 11.17. Except as otherwise permitted, an Employer must elect the Safe Harbor Plan provisions and must satisfy the notice requirements of paragraph 11.16 prior to the beginning of the Plan Year to which the Safe Harbor provisions will be applied. The Employer must apply the Safe Harbor provisions for the entire Plan Year, including any short Plan Year. An Employer who elects in the Adoption Agreement and operationally satisfies the Safe Harbor provisions of paragraphs 11.10 through 11.17 is not subject to the nondiscrimination requirements of 11.

Appears in 2 contracts

Samples: Defined Contribution Plan (United Community Bancorp), Nonstandardized Adoption Agreement (Banctrust Financial Group Inc)

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Safe Harbor Rules Of Application. The Employer may elect in a cash or deferred adoption agreement to apply the safe harbor plan provisions found in paragraphs 11.10 through 11.17. Except as otherwise permitted, an Employer must elect the Safe Harbor Plan provisions and must satisfy the notice requirements of paragraph 11.16 prior to the beginning of the Plan Year to which the Safe Harbor provisions will be applied. The Employer must apply the Safe Harbor provisions for the entire Plan Year, including any short Plan Year. An Employer who elects in the Adoption Agreement and operationally satisfies the Safe Harbor provisions of paragraphs 11.10 through 11.17 is not subject to the nondiscrimination requirements of 1111.2. An Employer who elects to provide additional Matching Contributions as set forth in paragraph 11.14 will be subject to the nondiscrimination provisions of paragraph 11.6, unless the additional Matching Contributions satisfy the ACP test safe harbor provisions in paragraph 11.14.

Appears in 1 contract

Samples: Defined Contribution Plan (Century Bancorp Inc)

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