Average Actual Deferral Percentage means the average (expressed as a percentage) of the Actual Deferral Percentages of the Eligible Participants in a group.
Average Actual Deferral Percentage means the average (expressed as a percentage) of the Actual Deferral Percentages of a group.
Average Actual Deferral Percentage means, for the group of Eligible Employees who are Highly Compensated Employees for a Plan Year or the group of Eligible Employees who are Non-Highly Compensated Employees for the Plan Year, the average of the Actual Deferral Percentages of all Eligible Employees in such group for the Plan Year.
Examples of Average Actual Deferral Percentage in a sentence
If the Plan does not satisfy one of the Average Actual Deferral Percentage tests of paragraph 5 of this Appendix as of the end of a Plan Year, the Excess Contributions for the Plan Year will be corrected if the Excess Contributions for the Plan Year are timely recharacterized as employee After-Tax Savings contributions in accordance with subsection (c) below or timely distributed to Highly Compensated Employees in accordance with subsection (d) below.
The Employer maintains records sufficient to demonstrate satisfaction of the Average Actual Deferral Percentage tests of paragraph 5 of this Appendix for each Plan Year, and the extent to which any Qualified Matching Contributions are treated as Pre-Tax Savings under paragraph 7 of this Appendix for purposes of such tests.
The determination and treatment of Actual Deferral Percentages and Excess 401(k) Contributions, and the operation of the Average Actual Deferral Percentage Test shall be in accordance with such additional requirements as may be prescribed by the Secretary of the Treasury.
The Average Actual Deferral Percentage test set forth in Section 3.4.2(B) of the Plan.
Multiple use of the alternative limitation occurs if, for the group of Eligible Employees who are Highly Compensated Employees, the sum of the Average Actual Deferral Percentage and the Average Actual Contribution Percentage exceeds the Aggregate Limit.
More Definitions of Average Actual Deferral Percentage
Average Actual Deferral Percentage means the average of the Actual Deferral Percentages of (a) the group comprised of Eligible Employees who are Highly Compensated Employees or (b) the group comprised of Eligible Employees who are Non-Highly Compensated Employees, whichever is applicable.
Average Actual Deferral Percentage means, for a specified group of Eligible Employees for a Plan Year, the average of the Actual Deferral Percentages for such Eligible Employees for the Plan Year.
Average Actual Deferral Percentage means, for a specified group of Early Entry Eligible Employees for a Plan Year, the average of the Actual Deferral Percentages for such Early Entry Eligible Employees for the Plan Year.
Average Actual Deferral Percentage means the average of the Actual Deferral Percentages of the Eligible Participants in a group.
Average Actual Deferral Percentage means the average (expressed as a percentage) of the Actual Deferral Percentages of the Eligible Employees in a group. 1.4 "Code" shall mean the Internal Revenue Code of 1986, as amended. 1.5 "Committee" shall mean the person or persons appointed by the Employer to administer the Plan in accordance with Section 6.1. If no such Committee is appointed by the Employer, the Employer shall act as the Committee. 1.6 "Compensation" shall mean, unless otherwise specified in the Adoption Agreement, in the case of an Employee other than a Self-Employed Individual, his or her section 3401(a) wages, which are actually paid during the applicable period. In the case of a Self-Employed Individual, Compensation shall mean his or her Earned Income. Unless otherwise specified in the Adoption Agreement, the applicable period shall be the Plan Year. If elected by the Employer in the Adoption Agreement, Compensation shall also include Employer contributions made pursuant to a salary reduction agreement with an Employee which are not currently includible in the gross income of the Employee by reason of the application of sections 125, 402(e)(3), 402(h)(1)(B) or 403(b) of the Code. Compensation shall not include amounts in excess of $150,000, as adjusted by the Secretary of the Treasury at the same time and in the same manner as under section 415(d) of the Code. In determining Compensation for purposes of the adjusted $150,000 limitation, the family member rules of section 414(q)(6) of the Code shall apply except that in applying such rules, the term "family" shall include only the Employee's spouse and any lineal descendants who have not attained age 19 before the close of the Plan Year. If, as a result of the application of such family member rules, the adjusted $150,000 limitation is exceeded, then (except for purposes of determining the portion of Compensation up to the Integration Level if this Plan is integrated with Social Security), the adjusted $150,000 limitation shall be prorated among the affected individuals in proportion to each such individual's Compensation as determined under this Section prior to the application of the adjusted $150,000 limitation. 1.7 "Earned Income" shall mean the annual net earnings from self-employment in the trade or business with respect to which the Plan is established, provided that personal services of the individual are a material income-producing factor. Net earnings will be determined without regard to items not included in gross in...
Average Actual Deferral Percentage means the average, expressed as a percentage, of the Actual Deferral Percentages of the Participants. The Average Actual Deferral Percentage of the Participants shall be rounded to the nearest 100th of 1%. If two or more plans maintained by the Employer or its Affiliates are treated as one plan for purposes of the nondiscrimination requirements of Code Section 401(a)(4) or the coverage requirements of Code Section 410(b) (other than for purposes of the average benefits test), all Elective Deferral Contributions that are made pursuant to those plans shall be treated as having been made pursuant to one plan.
Average Actual Deferral Percentage means, for any group of Eligible Associates who are Participants or eligible to be Participants, the average (expressed as a percentage) of the Actual Deferral Percentages for each of the Eligible Associates in that group, including those for whom no Pre-tax Contributions were made. If the Plan Administrator elects to: (i) calculate the Average Actual Deferral Percentage for Associates who have not met the minimum age and service requirements of Code § 410(a)(1)(A) separately for coverage pursuant to Code § 410(b)(4)(B), and (ii) exclude from the Average Actual Deferral Percentage calculation all Non-highly Compensated Employees who have not met such minimum age and service requirements pursuant to Code § 401(k)(3)(F), the Plan is not required to use the same method for crediting service (e.g., elapsed time or actual counting of hours) for both of these tests.