Tiered Match. The Employer shall contribute to each eligible Participant’s account an amount equal to: % (no more than 500%) of the first % of the Participant’s Compensation contributed, and % (no more than 400%) of the next % of the Participant’s Compensation contributed, and % (no more than 300%) of the next % of the Participant’s Compensation contributed. The Employer’s contribution will be made up to the o greater of (may be no more than 500%) o 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 2 contracts
Samples: Participation Agreement (Sterling Chemicals Inc), Sterling Chemicals Inc
Tiered Match. The Employer shall contribute to each eligible Participant’s 's account an amount equal to: % (no more than 500%) of the first % of the Participant’s 's Compensation contributed, and % (no more than 400%) of the next % of the Participant’s 's Compensation contributed, and % (no more than 300%) of the next % of the Participant’s 's Compensation contributed. The Employer’s 's contribution will be made up to the o greater of (may be no more than 500%) o lesser of (may be no less than 1%) % %of Compensation, or $ 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.Section
Appears in 1 contract
Samples: Nonstandardized Adoption Agreement (BBCN Bancorp Inc)
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 first % of the Participant’s Compensation contributed, and % of the next % (no more than 400%) of the next % of the Participant’s Compensation contributed, and % of the next % (no more than 300%) of the next % of the Participant’s Compensation contributed. The Employer’s contribution will be made up to the o greater of (may be no more than 500%) o 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 (Athens Bancshares Corp)
