Average Deferral Percentage definition

Average Deferral Percentage. The Average Percentage calculated using Deferrals allocated to Participants as of a date within the Plan Year.

Average Deferral Percentage. The percentage calculated in accordance with Section 12.1.

Average Deferral Percentage means the average of the Deferral Percentages of each Participant in a group of Participants.

Examples of Average Deferral Percentage in a sentence

• The Average Deferral Percentage test described in subsection (b) below shall be performed with respect to the Elective Contributions made under this Plan by all Employers aggregated together.

• To the extent not otherwise specified herein, the Average Deferral Percentage Test shall be performed consistent with any other requirements of Code Section 401(k) and the regulations thereunder.

• For collectively bargained Participants, the Average Deferral Percentage test is performed with all Employers aggregated together.

• For non- collectively bargained Participants, the Average Deferral Percentage test is performed separately by Employer.

• The ADP Test compares the Average Deferral Percentage (ADP) of the Highly Compensated Group with the ADP of the Nonhighly Compensated Group.

More Definitions of Average Deferral Percentage

Average Deferral Percentage or "ADP" means, separately, the average of the Calculated Percentage calculated for Participants within the HCE Group and the NHCE Group, respectively, for a Plan Year.

Average Deferral Percentage. ("ADP") means the average of the Deferral Percentages of a group of Eligible Participants.

Average Deferral Percentage means the average, computed to the nearest one-hundredth of one percent, of the Actual Deferral Percentages (including zero percentages) for Participants within the specified group.

Average Deferral Percentage means the average of the Deferral Percentages of a group of Participants.

Average Deferral Percentage means the average of the ratios, calculated separately for each applicable Employee, by which the amount of the Salary Reduction Contributions contributed to the Trust on behalf of such Employee for a given Plan Year bears to the amount of such Employee's compensation (as defined in Section 414(s) of the Internal Revenue Code) for such Plan Year, or, at the election of the Administrative Committee, for the portion of the Plan Year during which the Employee was eligible to participate in the cash or deferred arrangement under the Plan.

Average Deferral Percentage means the average (expressed as a percentage to the nearest one-hundredth of one percent) of the Deferral Percentages of the Eligible Participants in a group.

Average Deferral Percentage means, for a specified group of covered employees for the Plan Year, the average of the deferral percentages for all covered employees in such group.