STANDARDIZED PLAN. If the Employer's Plan is a Standardized Plan, the Plan operates as a top heavy plan in all Plan Years and the Advisory Committee need not determine whether the Plan actually is top heavy. However, if the Employer, in Adoption Agreement Section 3.18, elects to override the 100% limitation, the Advisory Committee will need to determine whether the Plan's top heavy ratio for a Plan Year exceeds 90%.
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Samples: 401(k) Retirement Savings Plan (Reptron Electronics Inc)
STANDARDIZED PLAN. If the Employer's Plan is a Standardized Plan, the Plan operates as a deemed top heavy plan in all Plan Years, except, if the Standardized Plan includes a Code (S)401(k) arrangement, the Employer may elect to apply the top heavy requirements only in Plan Years and for which the Plan actually is top heavy. Under a deemed top heavy plan, the Advisory Committee need not determine whether the Plan actually is top heavy. However, if the Employer, in Adoption Agreement Section 3.18, elects to override the 100% limitation, the Advisory Committee will need to determine whether the Plan's top heavy ratio for a Plan Year exceeds 90%.Adoption
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STANDARDIZED PLAN. If the Employer's Plan is a Standardized Plan, the Plan operates as a deemed top heavy plan in all Plan Years, except, if the Standardized Plan includes a Code Section 401(k) arrangement, the Employer may elect to apply the top heavy requirements only in Plan Years and for which the Plan actually is top heavy. Under a deemed top heavy plan, the Advisory Committee need not determine whether the Plan actually is top heavy. However, if the Employer, in Adoption Agreement Section 3.18, elects to override the 100% limitation, the Advisory Committee will need to determine whether the Plan's top heavy ratio for a Plan Year exceeds 90%.Adoption
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Samples: Defined Contribution Master Plan and Trust Agreement (Nci Building Systems Inc)
STANDARDIZED PLAN. If the Employer's Plan is a Standardized Plan, the Plan operates as a deemed top heavy plan in all Plan Years, except, if the Standardized Plan includes a Code (S)401(k) arrangement, the Employer may elect to apply the top heavy requirements only in Plan Years and the Advisory Committee need not determine whether for which the Plan actually is top heavy. However, if the Employer, in Adoption Agreement Section 3.18, elects to override the 100% limitationUnder a deemed top heavy plan, the Advisory Committee will need to determine whether the Plan's top heavy ratio for a Plan Year exceeds 90%.need
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