TOP HEAVY PLAN REQUIREMENTS. For any Top Heavy Plan Year, the Plan shall provide the special vesting requirements of Code Section 416(b) pursuant to Section 6.4 of the Plan and the special minimum allocation requirements of Code Section 416(c) pursuant to Section 4.4 of the Plan.
TOP HEAVY PLAN REQUIREMENTS. (a) For any "Top Heavy Plan Year", the following provisions shall apply notwithstanding any other provision in this Plan to the contrary:
1. Any person who is a participant in this Plan in any year in which it shall be a "Top Heavy Plan" shall have his or her benefits vested in accordance with the following schedules: Twenty Percent (20%) after two (2) years of service; Forty percent (40%) after three (3) years of service; Sixty percent (60%) after four (4) years of service; Eighty per-cent (80%) after five (5) years of service; One hundred percent (100%) after six (6) years of service. Effective January 1, 1989, there shall be no decrease in a participant's nonforfeitable percentage in the event the Plan's status as top heavy changes for any year. Further, if the vesting schedule shifts in and out of the above schedule for any year because the Plan's top heavy status changes, such shift shall be considered an amendment of the vesting schedule. If this occurs, each participant with at least three (3) years of service with the Company may elect to have his nonforfeitable percentage determined without regard to the shift. The election period will begin with the date the deemed amendment is made and shall end on the later of:
A. Sixty (60) days after the deemed amendment is adopted;
B. Sixty (60) days after the deemed amendment is effective; or
C. Sixty (60) days after the participant is issued written notice of the deemed amendment by the Administrative Committee.
2. Notwithstanding anything in this Plan to the contrary for any Top Heavy Plan Year, the Company shall make a minimum contribution for each non-key employee equal to three percent (3%) of such non- key employee's salary.
3. For any year in which this Plan is top heavy, each non-key employee will receive a minimum contribu- tion if the non-key employee has not separated from service at the end of the top heavy year, regard- less of whether the non-key employee has less than one thousand (1,000) hours of service in such year. Furthermore, such non-key employee shall receive such minimum contribution regardless of his or her level of compensation, and regardless of whether he or she declines to make a mandatory personal con- tribution.
4. Notwithstanding the foregoing, so long as any non- key employee is covered by both the Company's Pension Plan and this Plan, the minimum contribu- tion required herein shall be satisfied by the accrual of the defined benefit by the respective non-key employee for an...
TOP HEAVY PLAN REQUIREMENTS. Notwithstanding anything in this Plan to the contrary, for any Top Heavy Plan Year, the Plan shall provide the special vesting requirements of Code Section 416(b) pursuant to Section 6.4 of the Plan and the special minimum allocation requirements of Code Section 416(c) pursuant to Section 4.3(f) of the Plan. Except as otherwise provided in the Plan, the minimum allocation shall be an Employer Non-Elective Contribution and, if no vesting schedule has been selected in the Adoption Agreement, shall be subject to the 6 Year Graded vesting schedule described in the Adoption Agreement.
TOP HEAVY PLAN REQUIREMENTS. This Article contains the rules for determining whether the Plan is a Top-Heavy Plan and the consequences of having a Top-Heavy Plan. Part 6 of the Agreement provides for elections relating to the vesting schedule for a Top-Heavy Plan. Part 13 of the Agreement allows the Employer to elect to satisfy the Top-Heavy Plan allocation requirements under another plan.
TOP HEAVY PLAN REQUIREMENTS. Notwithstanding any other provisions of the Plan to the contrary, if the Plan is a Top‑Heavy Plan for any Plan Year, the Plan shall then satisfy the following requirements for such Plan Year:
(a) The minimum vesting requirements as set forth in Section 15.4.
(b) The minimum contribution requirement as set forth in Section 15.5.
TOP HEAVY PLAN REQUIREMENTS. (a) For any Top Heavy Plan Year, the Plan shall provide the following:
(i) the minimum vesting requirements for Top Heavy Plans set forth in Section 13.01 of the Adoption Agreement; and
(ii) the minimum contribution requirements set forth in Section 4.02 of the Plan.
(b) Once a Plan has become a Top Heavy Plan, if the Employer so specifies in Section 6.01(b) of the Adoption Agreement, the minimum contribution requirements for Top Heavy Plans set forth in Section 4.02 of the Plan shall be applicable in all subsequent Plan Years, regardless of whether such years are Top Heavy Plan Years.
(c) Once a Plan has become a Top Heavy Plan, the vesting requirements described in Section 13.01(2) of the Adoption Agreement shall be applicable to all subsequent Plan Years, regardless of whether such years are Top Heavy Plan Years. If the Plan is or becomes a Top Heavy Plan in any Plan Year beginning after December 31, 1983, the provisions of this Article VI will supersede any conflicting provision in the Plan or Adoption Agreement. The top heavy minimum vesting schedule applies to all benefits within the meaning of Code Section 411(a)(7) except those attributable to Employee contributions, including benefits accrued before the effective date of Section 416 of the Code and benefits accrued before the Plan became to heavy. Further, no decrease in a Participant's nonforfeitable percentage may occur in the event the Plan's status as top heavy changes for any Plan Year. However, this Section does not apply to the Account balances of any Employee who does not have an Hour of Service after the Plan has initially become top heavy and such Employee's Account balance attributable to Employer contributions and forfeitures will be determined without regard to this Section.
TOP HEAVY PLAN REQUIREMENTS. For any Top Heavy Plan Year, the Plan shall provide special minimum allocations required under Code Section 416(c) pursuant to Section 3.04 of the Plan. In addition, for any Top Heavy Plan Year beginning prior to January 1, 1989, Compensation in excess of Two Hundred Thousand Dollars ($200,000.00) shall not be taken into account.
TOP HEAVY PLAN REQUIREMENTS. Notwithstanding anything in this Plan to the contrary, for any Top-Heavy Plan Year, the Plan shall provide the special vesting requirements of Code §416(b) pursuant to Section 6.4 of the Plan and the special minimum allocation requirements of Code §416(c) pursuant to Section 4.3(f) of the Plan. Except as otherwise provided in the Plan, the minimum allocation shall be an Employer Nonelective Contribution and, if no vesting schedule has been selected in the Adoption Agreement or the selection is invalid, shall be subject to the 6 Year Graded vesting schedule described in the Adoption Agreement. Notwithstanding the above, the Top-Heavy Plan Year requirements of this Article and Code §416 shall not apply in any Plan Year in which the Plan consists solely of a cash or deferred arrangement which meets the requirements of Code §401(k)(12) or §401(k)(13) and matching contributions meet the requirements of Code §401(m)(11) or §401(m)(12).
TOP HEAVY PLAN REQUIREMENTS. For any Top Heavy Plan Year, the Plan shall provide the following:
54 a) Special minimum benefit and contribution requirements of Section 416(c) of the Code, pursuant to Section 12.4 of the plan.
