Target Benefit Plan. A Target Benefit Plan may be established by executing a Target Benefit Plan Adoption Agreement. The Employer shall notify each eligible Employee of his or her eligibility for participation prior to the appropriate Entry Date. The Employer will make contributions for each Participant in level annual contributions that will fund the Participant’s target benefit at the Plan’s Normal Retirement Age.
Appears in 7 contracts
Samples: Prototype Defined Contribution Plan (1st Constitution Bancorp), Prototype Defined Contribution Plan (Wellesley Bancorp, Inc.), Prototype Defined Contribution Plan (Savannah Bancorp Inc)
Target Benefit Plan. A Target Benefit Plan may be established by executing a Target Benefit Plan Adoption Agreement. The Employer shall notify each eligible Employee of his or her eligibility for participation prior to the appropriate Entry Date. The Employer will make contributions for each Participant in level annual contributions that which will fund the Participant’s target benefit at the Plan’s Normal Retirement Age.
Appears in 4 contracts
Samples: Prototype Defined Contribution Plan (FNB United Corp.), Prototype Defined Contribution Plan (United Community Bancorp), Measurement Specialties Inc
