Common use of Special Requirements for Paired Plans Clause in Contracts

Special Requirements for Paired Plans. The Employer maintains paired plans if the Employer has adopted both a standardized profit sharing plan and a standardized money purchase pension plan using this Basic Plan Document. 1. Minimum Allocation - When the paired plans are top-heavy, the top-heavy requirements set forth in Section 3.01(E) (1) of the Plan shall apply. a. Same eligibility requirements. In satisfying the top-heavy minimum allocation requirements set forth in Section 3.01(E) of the Plan, if the Employees benefiting under each of the paired plans are identical, the top-heavy minimum allocation shall be made to the money purchase pension plan.

Special Requirements for Paired Plans. The Employer maintains paired plans if the Employer has adopted both a standardized profit sharing plan and a standardized money purchase pension plan using this Basic Plan Document. 1. I. Minimum Allocation - When the paired plans are top-heavy, the top-top- heavy requirements set forth in Section 3.01(E) (1) of the Plan shall apply. a. Same eligibility requirements. In satisfying the top-heavy minimum allocation requirements set forth in Section 3.01(E) of the Plan, if the Employees benefiting under each of the paired plans are identical, the top-heavy minimum allocation shall be made to the money purchase pension plan.