The Plan Year Sample Clauses
The Plan Year clause defines the specific 12-month period during which a benefit or retirement plan operates for administrative and compliance purposes. Typically, this period may align with the calendar year or a company's fiscal year, and it determines when eligibility, contributions, and benefits are calculated and reported. By clearly establishing the Plan Year, this clause ensures consistency in plan administration and helps both employers and participants understand the relevant timeframes for plan activities and regulatory filings.
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The Plan Year. If as a result of the application of such rules the dollar limitation is exceeded, then (except for purposes of determining the portion of Compensation up to the integration level if the Plan provides for permitted disparity) the dollar limitation shall be prorated among the affected participants in proportion to each such Participant's Compensation as determined under this Section prior to the application of the dollar limitation.
The Plan Year. 2. The Employer's Fiscal Year (defined as the Plan's --- "limitation year") being the twelve (12) consecutive month period commencing ___________________ (month/day) and ending ___________________ (month/day).
The Plan Year. However, for the Plan Year in which an Employee's participation begins, the application period is the portion of the Plan Year during which the Employee is eligible to participate in the Plan. --------------------------------------------------------------------------------
The Plan Year. All qualified plans maintained by a Controlled Group Member must use the same Limitation Year. If the Limitation Year is amended to a different 12-consecutive month period, the new Limitation Year must begin on a date within the Limitation Year in which the amendment is made. Master or Prototype Plan: A plan the form of which is the subject of a favorable opinion letter from the Internal Revenue Service.