Special Rules Relating To The Application Of The ACP Test Sample Clauses

Special Rules Relating To The Application Of The ACP Test. (a) A Participant is a Highly Compensated Employee for a particular Plan Year if he or she meets the definition of a Highly Compensated Employee in effect for that Plan Year. Similarly, a Participant is a Non-Highly Compensated Employee for a particular Plan Year if he or she does not meet the definition of a Highly Compensated Employee in effect for that Plan Year.
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Special Rules Relating To The Application Of The ACP Test. A Participant is a Highly Compensated Employee for a particular Plan Year if he or she meets the definition of a Highly Compensated Employee in effect for that Plan Year. Similarly, a Participant is a Non-Highly Compensated Employee for a particular Plan Year if he or she does not meet the definition of a Highly Compensated Employee in effect for that Plan Year. For Plan Years beginning before 2002, if one or more Highly Compensated Employees participated in both a cash or deferred arrangement and a plan subject to the ACP Test maintained by the Employer and the sum of the ADP and ACP of those Highly Compensated Employees subject to either or both tests exceeded the Aggregate Limit, then the ADP or ACP of those Highly Compensated Employees who also participated in a cash or deferred arrangement may have been reduced in accordance with paragraph 11.7 so that the limit was not exceeded. The amount by which each Highly Compensated Employee’s Contribution Percentage Amounts was reduced was treated as an Excess Aggregate Contribution. The ADP and ACP of the Highly Compensated Employees was determined after any corrections required to meet the ADP and ACP Tests and were deemed to be the maximum permitted under such tests for the Plan Year. Multiple use of the Aggregate Limit did not occur if either the ADP or ACP of the Highly Compensated employees did not exceed 1.25 multiplied by the ADP and ACP of the Non-Highly Compensated Employees. The restrictions on multiple use of the Aggregate Limit do not apply for Plan Years beginning after 2001. For purposes of this paragraph, the ACP for any Participant who is a Highly Compensated Employee and who is eligible to have Contribution Percentage Amounts allocated to his or her account under two (2) or more plans described in Code Section 401(a) or arrangements described in Code Section 401(k) that are maintained by the Employer, shall be determined as if the total of such Contribution Percentage Amounts were made under a single plan or arrangement. If a Highly Compensated Employee participates in two (2) or more such plans or arrangements that have different Plan Years, all such plans and arrangements shall be aggregated. For Plan Years beginning before 2006, all such plans and arrangements ending with or within the same calendar year shall be treated as a single arrangement. Notwithstanding the foregoing, certain plans shall be treated as separate if their disaggregation is mandatory under the Regulations issued under ...
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Related to Special Rules Relating To The Application Of The ACP Test

  • Special Rules Relating to the Preparation of Tax Returns All Tax Returns that include any members of the Newco Group or Vornado Group shall be prepared in a manner that is consistent with the Tax Opinion Representation Letter and the Tax Opinion. Except as otherwise set forth in this Agreement, all Tax Returns for which Vornado is responsible under Section 3.1(a) shall be prepared (x) in accordance with elections, Tax accounting methods and other practices used with respect to such Tax Returns filed prior to the Distribution Date (unless such past practices are not permissible under applicable law), or (y) to the extent any items are not covered by past practices (or in the event such past practices are not permissible under applicable Tax Law), in accordance with reasonable practices selected by Vornado, provided such practices would not adversely affect the qualification of Newco as a REIT for any Post-Distribution Period.

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