Use of Forfeitures. (skip if this is NOT a Money Purchase Pension Plan; for Profit Sharing Plans, Forfeitures are disposed of in accordance with Employer direction that is consistent with Section 4.3(e)). Forfeitures will be (select one):
Use of Forfeitures. Forfeitures attributable to amounts other than Employer matching contributions will be:
Use of Forfeitures. Forfeitures, as described in Section 9.5(a), shall be applied in the following order: (a) first to restore forfeitures of Terminated Participants readmitted to the Plan in accordance with Section 9.5(b) and unclaimed benefits previously reallocated in accordance with Section 9.6, (b) second to pay Plan expenses, and (c) third, to reduce the Company Contributions.
Use of Forfeitures. Forfeitures shall be used for the following purposes (and, unless the Principal Sponsor determines otherwise, in the following order): to make restorations for rehired Participants of the same Employer as required in Section 6.2.2, to reduce Employer contributions, to reduce Plan expenses in the Plan Year in which the Participant's forfeiture event occurred or in the succeeding Plan Year, or to correct errors, omissions and exclusions. To the extent forfeitures are used to reduce Employer contributions, they shall be added as soon as administratively practicable to the reduced Employer contribution, if any, to be allocated to the Regular Accounts of all Participants employed by the same Employer as provided in Section 3.1. Any forfeitures remaining at the termination of the Plan shall be considered to be a discretionary contribution and shall be allocated to the Regular Accounts of Participants in the same ratio in which the Recognized Compensation of each such eligible Participant for the Plan Year bears to the Recognized Compensation for such Plan Year of all such eligible Participants.
Use of Forfeitures. 32 1.30. FORFEITURE DATE .............................................................................32 1.31. RESTORATION OF FORFEITURE IF REHIRED IN FIVE YEARS.............................................32 1.32. Application for Distribution...................................................................33
Use of Forfeitures. Any forfeitures occurring during a matching period will be allocated in accordance with the Employer’s election under the Adoption Agreement.
Use of Forfeitures. Consistent with existing Plan provisions, forfeitures of prior Employer Contributions generally may be used to fund Safe Harbor Contributions, to the extent permitted under IRS Guidance.
Use of Forfeitures. Forfeitures and investment income attributable to contributions shall be used to reduce County contributions.
Use of Forfeitures. Forfeitures occurring during a matching period, will be applied according to the method specified in the adoption agreement. Forfeitures of Excess Aggregate Contributions shall be made in accordance with Section 6.8(d)(iii).
Use of Forfeitures. Forfeitures shall first be used to restore any forfeitures for rehired Participants of any Employer. Any remaining forfeitures from Employer Contributions Accounts shall then be allocated to the Employer Contribution Accounts of all Participants, regardless of which Employer they were employed by during the Plan Year as additional non-integrated Employer contributions. Any forfeitures remaining at the termination of the Plan shall be allocated as provided above.
