Voluntary After-tax Contributions. If elected by an Employer in the Adoption Agreement, a Participant may make Voluntary After-tax Contributions to the Plan. These contributions are not excludable from the Participant’s gross income. Such contributions must be made in a uniform and nondiscriminatory manner. Such contributions are subject to the limitations on Annual Additions and are subject to ACP nondiscrimination testing. Any Voluntary After-tax Contribution shall not be a condition precedent to the contribution or allocation of any Employer contribution to the Participant. Under any Plan established hereunder and if permitted in the Plan’s loan policy document, a Participant may repay a defaulted loan from the Plan with voluntary after-tax dollars. The Employer may permit buy-back of amounts previously forfeited with after-tax dollars even if Voluntary After-tax Contributions are not permitted in the Plan. Any buy-back of amounts previously forfeited must be subject to uniform and nondiscriminatory rules that do not operate in favor of Highly Compensated Employees. Repayment of loans made to a Participant and buy-backs of cash-outs as described in Code Section 411(a)(7)(B) will not be considered Annual Additions as described in Regulations Section 1.415-6(b)(6). These amounts are not subject to the limitation contained in Code Section 401(m) in the year in which made, as they are not considered Annual Additions pursuant to Code Section 415.
Voluntary After-tax Contributions. If the Employer wishes to reserve the right to recharacterize Elective Deferrals as Voluntary After-tax Contributions in order to pass the ADP/ACP Test, this section must be completed.
2. Participants may make Voluntary After-tax Contributions in any amount from a minimum of ________% (may not be less than 1%) to a maximum of ______% (may be no more than 100%) of their Compensation or a flat dollar amount from a minimum of $____________ (may not be less than $1,000) to a maximum of $______________ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable]. [ ] 3. Participants may make Voluntary After-tax Contributions in any amount up to the maximum permitted by law. [ ] 4. The maximum combined limit of Elective Deferrals, Xxxx Elective Deferrals, and Voluntary After-tax Contributions will not exceed ______% (may be no more than 100%) of Compensation or $_______ [may be no more than the Code Section 402(g) limit and Code Section 414(v) limit, if applicable].
Voluntary After-tax Contributions. If the Employer wishes to reserve the right to recharacterize Elective Deferrals as Voluntary After-tax Contributions in order to pass the ADP/ACP Test, this section must be completed.
Voluntary After-tax Contributions. [x]
1. The Plan does not permit Voluntary After-tax Contributions.
2. Participants may make Voluntary After-tax Contributions in any amount from a minimum of __________% to a maximum of __________% of their Compensation or a flat dollar -- amount from a minimum of $__________ to a maximum of $__________. If recharacterization of Elective Deferrals has been elected at Section XII(D) in this Adoption Agreement, Voluntary After-tax Contributions must be permitted in the Plan by completing the section above.
Voluntary After-tax Contributions. 1. The Plan does not permit Voluntary After-tax Contributions.
2. Participants may make Voluntary After-tax Contributions in any amount from a minimum of % to a maximum of % of their Compensation or a flat dollar amount from a minimum of $ to a maximum of $ .
Voluntary After-tax Contributions. Voluntary After-Tax Contributions are permitted.
a. □ Yes
b. □ Formerly Allowed
c. ☑ No
Voluntary After-tax Contributions. Voluntary After-Tax Contributions are permitted.
a. £ Yes
b. £ Formerly Allowed
Voluntary After-tax Contributions. If elected by the Employer in the Adoption Agreement, Participants may contribute to the Plan on an after-tax basis. Voluntary After-Tax Contributions to this Plan, and any such contributions previously made to the Employer's plan:
Voluntary After-tax Contributions. If elected by the Employer in the Adoption Agreement, Participants may contribute to the Plan on an after-tax basis. Voluntary After-Tax Contributions to this Plan, and any such contributions previously made to the Employer's plan:
(a) Will be recorded in a separate subaccount maintained for a Participant by the Plan Administrator and held by the Trustee;
(b) Will be invested and reinvested, as described in Article 5;
(c) Will be nonforfeitable at all times; and
(d) Any Voluntary After-Tax Contributions together with any Matching Contributions, must satisfy the nondiscrimination test set forth in Section 3.8 and Code section 40l(m).
