Common use of Simplified Employee Pension Clause in Contracts

Simplified Employee Pension. PLAN A plan under which the Employer makes contributions for eligible Employees pursuant to a written formula. Contributions are made to an individual retirement account which meets the requirements of Code Section 408(k).

Appears in 4 contracts

Samples: Nonstandardized Adoption Agreement (Banctrust Financial Group Inc), Nonstandardized Adoption Agreement (Felcor Lodging Trust Inc), Prototype Defined Contribution (Spheris Leasing LLC)

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Simplified Employee Pension. PLAN A plan under which the Employer makes contributions for eligible Employees pursuant to a written formula. Contributions are made to an An individual retirement account which meets the requirements of Code Section 408(k), and to which the Employer makes contributions pursuant to a written formula. These plans are considered for contribution limitation and Top-Heavy testing purposes.

Appears in 3 contracts

Samples: Port Financial Corp, Professionals Insurance Co Management Group, Berkshire Hills Bancorp Inc

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Simplified Employee Pension. PLAN A plan under which the Employer makes contributions for eligible Employees pursuant to a written formula. Contributions are made to an An individual retirement account which meets the requirements of Code Section 408(k)) and to which the Employer makes contributions pursuant to a written formula. These plans are considered for contribution imitation and Top-Heavy testing purposes.

Appears in 1 contract

Samples: Standarized Adoption Agreement (Oregon Trail Financial Corp)

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