TOP-HEAVY VESTING. If the Plan is top-heavy and the Employer in its Adoption Agreement does not elect immediate vesting, the Employer must elect a top-heavy (or modified top-heavy) vesting schedule. The specified top-heavy vesting schedule applies to the Plan's first top-heavy Plan Year and to all subsequent Plan Years, except as the Employer otherwise elects in its Adoption Agreement. If the Employer elects in its Adoption Agreement to apply the specified top-heavy vesting schedule only in Plan Years in which the Plan is top-heavy, any change in the Plan's vesting schedule resulting from this election is subject to Section 5.11.
TOP-HEAVY VESTING. If this Plan becomes a Top-Heavy Plan, the following vesting schedule for such Plan Year and each succeeding Plan Year, whether or not Top-Heavy, shall be effective and shall be treated as a Plan amendment pursuant to this Agreement. [ ] (b) 20% vested after 2 years of service 40% vested after 3 years of service 60% vested after 4 years of service 80% vested after 5 years of service 100% vested after 6 years of service [ ] (c) Specify: (Must in all years be as favorable as the schedule in (a) above, or as favorable as the schedule in (b) above.) % vested after years of service ------ ----- % vested after years of service ------ ----- % vested after years of service ------ ----- % vested after years of service ------ ----- % vested after years of service ------ ----- % vested after years of service ------ ----- [X] (d) N/A, Vesting schedule in A-11.02 is equal to or more favorable than (a) or (b) above. However, this Section does not apply to the Account balances of any Participant who does not have an Hour of Service after the Plan has initially become Top-Heavy. Such Participant's Account balance attributable to Employer contributions and forfeitures shall be determined without regard to this section. The adopting Employer may not rely on an Opinion Letter issued by the National Office of the Internal Revenue Service as evidence that the Plan is qualified under Section 401 of the Internal Revenue Code. In order to obtain reliance with respect to plan qualification, the Employer must apply to the appropriate key district office for a Determination Letter. This adoption agreement may not be used only in conjunction with basic plan document #01. Provided the adoption of this Plan is properly registered with the Prototype Sponsor, the Prototype Sponsor shall inform the adopting Employer of any amendments made to the Plan or of the discontinuance or abandonment of the Plan. The adoption of the Plan is not properly registered unless the attached registration form along with the applicable registration fee is returned to: Lincoln National Life Insurance Company 0000 Xxxxx Xxxxxxx Xxxxxx P.O. Box #2248 Ft. Xxxxx, IN 46801-2248 Inquiries by adopting Employers regarding the adoption of this Plan, the intended meaning of any Plan provisions, or the effect of the Opinion Letter may be directed to the Prototype Sponsor at the above address or phone (000) 000-0000. Use of this Plan Document without proper registration and payment of the applicable registration fee cons...
TOP-HEAVY VESTING. Each Participant shall acquire a vested and nonforfeitable percentage in his or her account balance attributable to Employer contributions and the earnings thereon under the procedures selected above except with respect to any Plan Year during which the Plan is Top-Heavy, in which case the [ ] Two-twenty vesting schedule [Section 11(b)(iv)] or [ ] Three-Year Cliff vesting schedule [Section 11(b)(iii)] shall automatically apply unless the Employer has already elected a faster vesting schedule. If the Plan is switched to Section 11(b)(iii) or 11(b)(iv) because of its Top-Heavy status, that vesting schedule will remain in effect, even if the Plan later becomes non-Top-Heavy, until the Employer executes an amendment of this Adoption Agreement indicating otherwise.
TOP-HEAVY VESTING. (Plan Section 6.4(c)) If this Plan becomes a Top Heavy Plan, the following vesting schedule, based on number of Years of Service (or Periods of Service if the Elapsed Time Method is elected), shall apply and shall be treated as a Plan amendment pursuant to this Plan. Once effective, this schedule shall also apply to any contributions made before the Plan became a Top Heavy Plan and shall continue to apply if the Plan COMPENSATION
TOP-HEAVY VESTING. (a) Top-Heavy Vesting Schedule. For any Plan Year in which the -------------------------- Plan is a Top-Heavy Plan, if a Participant is credited with service after the Plan becomes a Top-Heavy Plan, then the non-forfeitable percentage of his Accrued Annual Pension (whether or not attributable to Plan Years in which the Plan is a Top-Heavy Plan) shall not be less than the percentage determined in accordance with the following schedule: Years of Credited Service Percentage ------------------------- ---------- Less than 2 years 0% 2 years but less than 3 20% 3 years but less than 4 40% 4 years but less than 5 60% More than 5 years 100% If the Plan ceases to be a Top-Heavy Plan, then the Participant's non- forfeitable percentage of his Accrued Annual Pension shall subsequently be determined in accordance with Section 4.4; provided, however, that any portion of the Participant's Accrued Annual Pension that was non-forfeitable on the day the Plan ceases to be a Top-Heavy Plan shall remain non-forfeitable. If a Participant has at least three years of Credited Service when the Plan ceases to be a Top-Heavy Plan, then the foregoing shall be subject to the provisions of Section 9.7.
TOP-HEAVY VESTING. If for any Plan Year the Plan is a top-heavy Plan, then each Participant's Accrued Benefit or account balance derived from Employer Contributions shall become nonforfeitable under a vesting schedule selected in the Adoption Agreement. All service required to be counted under the Plan shall be counted for top-heavy vesting. All service disregarded under the Plan shall be disregarded for top-heavy vesting except to the extent the Secretary of the Treasury provides otherwise in regulations. If the Plan becomes top-heavy, the Accrued Benefits or account balance of any Employee who does not have an Hour of Service after the Plan becomes top-heavy shall not be subject to the Top-Heavy vesting schedule. Top-heavy minimum benefits or minimum contributions under Section 20.15 to 20.18 may not be forfeited under Plan rules otherwise applicable relating to a suspension of benefits upon reemployment or a forfeiture upon withdrawal of mandatory employee contributions. For any Plan Year in which the Plan ceases to be top-heavy, the regular vesting schedule which was in effect prior to the time when the Plan became top-heavy shall be reinstated. However, any portion of the Participant's Accrued Benefit or Account that was vested prior to the time the Plan ceased to be top-heavy shall remain vested. In addition; any Participant credited with five (three, for Plan Years commencing after December 31, 1988) or more Years of Service at the time the Plan ceased to be top-heavy shall have the option of remaining under the top-heavy vesting schedule.
TOP-HEAVY VESTING. A Member's Account resulting from additional Employer Contributions made to satisfy the minimum contribution requirements of Plan Section 11.04 shall be subject to the vesting schedule selected below. (Select (a), (b), or (c) if the Plan is not a 401 (k) SIMPLE Plan and does not allow any Employer Contributions other than Elective Deferral Contributions, Qualified Matching Contributions, and Qualified Nonelective Contributions.) Amend No. 3 Effective April 1, 2003 34 Annuity Contract No. GA 4-42423
TOP-HEAVY VESTING. Notwithstanding any other provision of the Plan, for each Employee who is a Participant at any time during a top-heavy plan year the nonforfeitable percentage of the Participant's Company Contribution and Matching Contribution Accounts shall be determined in accordance with the following schedule: If the period of his or her Credited Service is: The percentage shall be: --------------------------- ------------------------
TOP-HEAVY VESTING. If the Plan is top-heavy and the Employer in its Adoption Agreement does not elect immediate vesting, the Employer must elect a top-heavy (or modified top-heavy) vesting schedule. The specified top-heavy vesting schedule applies to the Plan’s first top-heavy Plan Year and to all subsequent Plan Years, except as the Employer otherwise elects in its Adoption Agreement. If the Employer elects in its Adoption Agreement to apply the specified top-heavy vesting schedule only in Plan Years in which the Plan is top-heavy, any change in the Plan’s vesting schedule resulting from this election is subject to Section 5.11. Table of Contents Defined Contribution Prototype Plan ARTICLE XIII EXCLUSIVE BENEFIT, AMENDMENT, TERMINATION
TOP-HEAVY VESTING. 6 D10 VESTING............................................................ 6 D11 PLAN SHALL RECOGNIZE SERVICE WITH PREDECESSOR EMPLOYER............. 7
