Common use of Uniform Points Contribution Formula Clause in Contracts

Uniform Points Contribution Formula. The allocation for each eligible Participant will be determined by a uniform points method. Each eligible Participant’s allocation shall bear the same relationship to the Employer contribution as the Participant’s total points bears to all points awarded. The Employer must grant points for at least age or Service. Each eligible Participant will receive _____ points for each of the following: ¨ a. year(s) of age. ¨ b. _____ Year(s) of Service determined: ¨ i. In the same manner as determined for eligibility. ¨ ii. In the same manner as determined for vesting. ¨ iii. Points will not be awarded with respect to Year(s) of Service in excess of _____.

Appears in 2 contracts

Samples: Nonstandardized Adoption Agreement (United Community Bancorp), Defined Contribution Plan (Fraternity Community Bancorp Inc)

AutoNDA by SimpleDocs

Uniform Points Contribution Formula. The allocation for each eligible Participant will be determined by a uniform points method. Each eligible Participant’s allocation shall bear the same relationship to the Employer contribution as the Participant’s total points bears to all points awarded. The Employer must grant points for at least age or Service. Each eligible Participant will receive _____ points for each of the following: ¨ o a. year(s) of age. ¨ . o b. _____ Year(s) of Service determined: ¨ o i. In the same manner as determined for eligibility. ¨ o ii. In the same manner as determined for vesting. ¨ o iii. Points will not be awarded with respect to Year(s) of Service in excess of _____. o c. $ (not to exceed $200) of Compensation. The contribution formulas must satisfy the design-based safe harbors described in the Regulations under Code Section 401(a)(4).

Appears in 1 contract

Samples: Defined Contribution Plan (Athens Bancshares Corp)

Uniform Points Contribution Formula. The allocation for each eligible Participant will be determined by a uniform points method. Each eligible Participant’s allocation shall bear the same relationship to the Employer contribution as the Participant’s total points bears to all points awarded. The Employer must grant points for at least age or Service. Each eligible Participant will receive _____ points for each of the following: ¨ o a. year(s) of age. ¨ . o b. _____ Year(s) of Service determined: ¨ o i. In the same manner as determined for eligibility. ¨ o ii. In the same manner as determined for vesting. ¨ o iii. Points will not be awarded with respect to Year(s) of Service in excess of _____. o c. $ (not to exceed $200) of Compensation. The contribution formulas must satisfy the design-based safe harbors described in the Regulations under Code Section 401(a)(4).

Appears in 1 contract

Samples: Savings and Investment Plan Document (Sterling Chemicals Inc)

Uniform Points Contribution Formula. The allocation for each eligible Participant will be determined by a uniform points method. Each eligible Participant’s allocation shall bear the same relationship to the Employer contribution as the Participant’s total points bears to all points awarded. The Employer must grant points for at least age or Service. Each eligible Participant will receive _____ points for each of the following: : ¨ a. year(s) of age. ¨ b. _____ Year(s) of Service determined: ¨ i. In the same manner as determined for eligibility. ¨ ii. In the same manner as determined for vesting. ¨ iii. Points will not be awarded with respect to Year(s) of Service in excess of _____. ¨ c. $ (not to exceed $200) of Compensation. The contribution formulas must satisfy the design-based safe harbors described in the Regulations under Code Section 401(a)(4).

Appears in 1 contract

Samples: Defined Contribution Plan (ASB Bancorp Inc)

AutoNDA by SimpleDocs

Uniform Points Contribution Formula. The allocation for each eligible Participant will be determined by a uniform points method. Each eligible Participant’s allocation shall bear the same relationship to the Employer contribution as the Participant’s total points bears to all points awarded. The Employer must grant points for at least age or Service. Each eligible Participant will receive ________ points for each of the following: ¨ : [ ] a. ______ year(s) of age. ¨ [ ] b. _____ Year(s) of Service determined: ¨ i. In the same manner as determined for eligibility. ¨ . [ l ii. In the same manner as determined for vesting. ¨ iii. Points will not be awarded with respect to Year(s) of Service in excess of _____.

Appears in 1 contract

Samples: Nonstandardized Adoption Agreement (1st Constitution Bancorp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!