Tiered Match. The Employer shall contribute to each eligible Participant's account an amount equal to: ________% of the first ________% (no more than 500%) of the Participant's Compensation contributed, and ________% of the next ________% (no more than 400%) of the Participant's Compensation contributed, and ________% of the next ________% (no more than 300%) of the Participant's Compensation contributed. The Employer’s contribution will be made up to the [ ] greater of (may be no more than 500%) [ ] lesser of (may be no less than 1%) _________% of Compensation, or $__________ (no more than the Annual Addition limit for the Plan Year). The percentages specified above may not increase as the rate of Elective Deferrals or Employee Contributions increase. This formula must meet Code Section 401(a)(4) and the ACP Test.
Appears in 4 contracts
Samples: Nonstandardized Adoption Agreement (Connecticut Water Service Inc / Ct), Prototype Defined Contribution Plan (Savannah Bancorp Inc), Nonstandardized Adoption Agreement (Connecticut Water Service Inc / Ct)
Tiered Match. The Employer shall contribute to each eligible Participant's ’s account an amount equal to: ________% of the first ________% (no more than 500%) of the Participant's ’s Compensation contributed, and ________% of the next ________% (no more than 400%) of the Participant's ’s Compensation contributed, and ________% of the next ________% (no more than 300%) of the Participant's ’s Compensation contributed. The Employer’s contribution will be made up to the [ ] greater of (may be no more than 500%) [ ] lesser of (may be no less than 1%) _________% of Compensation, or $__________ (no more than the Annual Addition limit for the Plan Year). The percentages specified above may not increase as the rate of Elective Deferrals or Employee Contributions increase. This formula must meet Code Section 401(a)(4) and the ACP Test.
Appears in 1 contract
Samples: Prototype Defined Contribution Plan (Fraternity Community Bancorp Inc)
Tiered Match. The Employer shall contribute to each eligible Participant's ’s account an amount equal to: ________% of the first ________% (no more than 500%) of the Participant's ’s Compensation contributed, and ________% of the next ________% (no more than 400%) of the Participant's ’s Compensation contributed, and ________% of the next ________% (no more than 300%) of the Participant's ’s Compensation contributed. The Employer’s contribution will be made up to the [ ] greater of (may be no more than 500%) [ ] lesser of (may be no less than 1%) _________% of Compensation, or $__________ (no more than the Annual Addition limit for the Plan Year). The percentages specified above may not increase as the rate of Elective Deferrals or Employee Contributions increase. This formula must meet Code Section 401(a)(4) and the ACP Test.
Appears in 1 contract
Samples: Nonstandardized Adoption Agreement (1st Constitution Bancorp)
