Actual Contribution Percentage definition

Actual Contribution Percentage. ("ACP") shall mean, for a specified group of participants (either Highly Compensated Employees or Non-highly Compensated Employees) for a Plan Year, the average of the Contribution Percentages of the Eligible Participants in the group.

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Actual Contribution Percentage means, with respect to a Plan Year, the ratio (expressed as a percentage) of the sum of the amount of (a) Matching Contributions, (b) After-Tax Contributions, (c) Qualified Nonelective ESOP Contributions, and (d) Tax Deferred Contributions recharacterized as After-Tax Contributions, made on behalf of the Participant for the Plan Year to the Participant’s Testing Compensation for the Plan Year.

Actual Contribution Percentage for a Plan Year means, with respect to the Highly Compensated Participant group and Non-Highly Compensated Participant group, the average of the ratios (calculated separately for each Participant in each group) of:

Examples of Actual Contribution Percentage in a sentence

For purposes of the ADP and ACP Tests, all Matching Contributions made to the Plan will be deemed “Qualified” for purposes of calculating the Actual Deferral Percentage and/or Actual Contribution Percentage.
The total amount to be distributed as determined under paragraph (a) is allocated to Highly Compensated Employees on the basis of the dollar amount included for such Employee in the numerator of the Actual Deferral Percentage or the Actual Contribution Percentage, as applicable.
If a lesser reduction would enable the Plan to satisfy the Actual Contribution Percentage Test, only this lesser reduction may be made.
Any Employee who is eligible to make a Voluntary or Required After-tax Contribution or an Elective Deferral or ▇▇▇▇ Elective Deferral (if the Employer takes such contributions into account in the calculation of the Actual Contribution Percentage), or to receive a Matching Contribution (including forfeitures) or a Qualified Matching Contribution.
Excess Aggregate Contributions of Participants who are subject to the Family Member aggregation rules described in Section 4.7(c)(3) shall be allocated among the Family Members in proportion to the Thrift Contributions, Voluntary Contributions, and Matching Contributions (or amounts treated as Matching Contributions) of each Family Member that is combined to determine the combined Actual Contribution Percentage.

More Definitions of Actual Contribution Percentage

Actual Contribution Percentage or “ACP” shall mean, with respect to a Plan Year, for a specified group of Employees (either Highly Compensated Employees or non-Highly Compensated Employees) the average of the ratios, calculated separately for each Employee, of:

Actual Contribution Percentage means, with respect to a group of Participants for the Plan Year, the average of the Actual Contribution Ratios (calculated separately for each member of the group) of each Participant who is a member of such group.

Actual Contribution Percentage means the average of the Contribution Percentages of the Eligible Participants in a group.

Actual Contribution Percentage means, with respect to the groups consisting of (A) all Highly Compensated Employees and (B) all Non-Highly Compensated Employees, the average of the Actual Contribution Ratios for each such group, calculated separately for each Participant in each such group.

Actual Contribution Percentage means, for the Highly Compensated Eligible Employees and the Non-Highly Compensated Eligible Employees for a Plan Year, the average of the ratios, calculated separately for each person in each such group, of the amount, if any, of -

Actual Contribution Percentage means, with respect to a specified group of employees referred to in Section 4.5, the average of the ratios, calculated separately for each employee in that group, of:

Actual Contribution Percentage means the average of the Contribution Percentages of the eligible Participants in a group.