Contribution Percentage Amounts definition
Contribution Percentage Amounts means the sum of the Employee Contributions, Matching Contributions, and Qualified Matching Contributions (to the extent not taken into account for purposes of the ADP test) made under the Plan on behalf of the participant for the Plan Year. Such Contribution Percentage Amounts shall not include Matching Contributions that are forfeited either to correct Excess Aggregate Contributions or because the contributions to which they relate are Excess Deferrals, Excess Contributions, or Excess Aggregate Contributions. If so elected in the adoption agreement the Employer may include Qualified Nonelective Contributions in the Contribution Percentage Amounts. The Employer also may elect to use Elective Deferrals in the Contribution Percentage Amounts so long as the ADP test is met before the Elective Deferrals are used in the ACP test and continues to be met following the exclusion of those Elective Deferrals that are used to meet the ACP test.
Contribution Percentage Amounts means the sum of the Participant Contributions, Employer Matching Contributions, and Qualified Matching Contributions (to the extent not taken into account for purposes of the ADP test) made under the Plan on behalf of the Participant for the Plan Year. Such Contribution Percentage Amounts shall include Forfeitures of Excess Aggregate Contributions or Employer Matching Contributions allocated to the Participant's Account, taken into account in the year in which the allocation is made. If the Employer has elected in the Plan Agreement to make Qualified Nonelective Contributions, such amount of Qualified Nonelective Contributions, if any, as shall be necessary to enable the Plan to satisfy the ACP test and not used to satisfy the ADP test shall be included in the Contribution Percentage Amounts. Elective Deferrals shall also be included in the Contribution Percentage Amounts to the extent, if any, needed to enable the Plan to satisfy the ACP test, so long as the ADP test is met before the Elective Deferrals are used in the ACP test, and continues to be met following the exclusion of those Elective Deferrals that are used to meet the ACP test.
Contribution Percentage Amounts means the sum of the Employee Contributions and Matching Contributions made under the plan on behalf of the Participant for the Plan Year. Such Contribution Percentage Amounts shall not include Matching Contributions that are forfeited either to correct Excess Aggregate Contributions or because the contributions to which they relate are Excess Deferrals, Excess Contributions or Excess Aggregate Contributions. If so elected by the Employer in Section 1.05(b)(4), the Employer may include Qualified Discretionary Contributions in the Contribution Percentage Amounts. The Employer also may elect to use Deferral Contributions in the Contribution Percentage Amounts so long as the ADP test is met before the Deferral Contributions are used in the ACP test and continues to be met following the exclusion of those Deferral Contributions that are used to meet the ACP test.
Examples of Contribution Percentage Amounts in a sentence
The amount by which each Highly Compensated Employee's Contribution Percentage Amounts is reduced shall be treated as an Excess Aggregate Contribution.
The Employer also may elect to use Elective Deferrals in the Contribution Percentage Amounts so long as the ADP test is met before the Elective Deferrals are used in the ACP test and continues to be met following the exclusion of those Elective Deferrals that are used to meet the ACP test.
The amount by which each Highly Compensated Employee's Contribution Percentage Amounts (or ADP, if elected) is reduced shall be treated as an Excess Aggregate Contribution (or Excess Contribution, if elected).
Excess Aggregate Contributions are allocated to the Highly Compensated Employees with the largest Contribution Percentage Amounts taken into account in calculating the ACP test for the year in which the excess arose, beginning with the Highly Compensated Employee with the largest amount of such Contribution Percentage and continuing in descending order until all the Excess Aggregate Contributions have been allocated.
Excess Aggregate Contributions are allocated to the Highly Compensated Employees with the largest Contribution Percentage Amounts taken into account in calculating the ACP Test for the year in which the excess arose, beginning with the Highly Compensated Employee with the largest amount of such Contribution Percentage and continuing in descending order until all the Excess Aggregate Contributions have been allocated.
More Definitions of Contribution Percentage Amounts
Contribution Percentage Amounts means the sum of the Participant Voluntary Contributions, Matching Contributions, and Qualified Matching Contributions (to the extent not taken into account for purposes of the Actual Deferral Percentage test) made under the Plan on behalf of the Participating Employee for the Plan Year. Such Contribution Percentage Amounts shall include forfeitures of Excess Aggregate Contributions or Matching Contributions allocated to the Participating Employee's Accounts which shall be taken into account in the year in which such forfeiture is allocated. The Employer may elect to include Qualified Non-Elective Contributions in the Contribution Percentage Amounts. The Employer also may elect to use all or part of the Elective Deferrals for the Plan Year in the Contribution Percentage Amounts so long as the Actual Deferral Percentage test is satisfied both including and excluding the Elective Deferrals that are included in the Contribution Percentage Amounts.
Contribution Percentage Amounts means the sum of the Thrift Contributions (including amounts recharacterized in accordance with Section 4.6(d)), Voluntary Contributions and Matching Contributions under the Plan on behalf of an Eligible Participant for the Plan Year. Such Contribution Percentage Amounts shall not include Matching Contributions that are forfeited either to correct Excess Aggregate Contributions or because the contributions to which they relate are Excess Elective Deferrals, Excess Contributions, or Excess Aggregate Contributions. Such Contribution Percentage Amounts shall include forfeitures of Excess Aggregate Contributions or Matching Contributions allocated to the Eligible Participant's Employer Matching Contribution Account, which shall be taken into account in the year in which such forfeiture is allocated.
Contribution Percentage Amounts means the sum of Member after-tax contributions, Employer matching contributions, Employer supplemental contributions under Formula (1), and qualified matching contributions ( to the extent not taken into account for purposes of the actual deferral percentage test) made under the Plan on behalf of the Member for the Plan Year. However, such Contribution Percentage Amounts shall not include Employer matching contributions that are forfeited either to correct excess aggregate contributions or because the contributions to which they relate are excess deferrals, excess contributions or excess aggregate contributions. The refund or forfeiture of such excess aggregate contributions shall be made with respect to such Highly Compensated Employees to the extent practicable before the 15th day of the third month immediately following the Plan Year for which such excess aggregate contributions were made, but in no event later than the end of the Plan Year following such Plan Year or, in the case of the termination of the Plan in accordance with Article XI, no later than the end of the twelve-month period immediately following the date of such termination. For purposes of this Section, the contribution percentage (which shall mean the ratio of the Member’s Contribution Percentage Amounts to the Member’s compensation for the Plan Year) for any Member who is a Highly Compensated Employee and who is eligible to have Contribution Percentage Amounts allocated to his account under two or more plans described in Section 401(a) of the Code, or arrangements described in Section 401(k) of the Code that are maintained by the Employer, shall be determined as if the total of such Contribution Percentage Amounts was made under each plan. If a Highly Compensated Employee participates in two or more cash or deferred arrangements that have different plan years, all cash or deferred arrangements ending with or within the same calendar year shall be treated as a single arrangement. Notwithstanding the foregoing, certain plans shall be treated as separate if mandatorily disaggregated under regulations under Section 401(m) of the Code. In the event that this plan satisfies the requirements of Sections 401(m), 401(a)(4) or 410(b) of the Code only if aggregated with one or more other plans, or if one or more other plans satisfy the requirements of such Sections of the Code only if aggregated with this Plan, then this Section shall be applied by determining the actual contribution percentage...
Contribution Percentage Amounts. 3 1.21 "Defined Benefit Plan" 3 1.22 "Defined Contribution Plan" 3 1.23 "Disability" 3 1.24 "Early Retirement" 3 1.25 "Early Retirement Date" 3 1.26 "Earned Income" 3 1.27 "Elective Deferrals" 3 1.28 "Elective Deferrals Account" 4 1.29 "Eligible Employee" 4 1.30 "Eligible Participant" 4 1.31 "Employee" 4 1.32 "Employee Thrift Contributions" 4 1.33 "Employee Thrift Contributions Account" 4 1.34 "Employer" 4 1.35 "Employer Account" 4 1.36 "Employer Contributions" 4 1.37 "Employer Contributions Account" 4 1.38 "Employment" 4 1.39 "Entry Date" 4 1.40 "ERISA" 4 1.41 "Excess Aggregate Contributions" 5 1.42 "Excess Contributions" 5 1.43 "Excess Elective Deferrals" 5 1.44 "Family Member" 5 1.45 "401(k) Contributions Accounts" 5 1.46 "401(k) Election" 5 1.47 "Fully Vested Separation" 5 1.48 "Group Trust" 5 1.49 "Highly Compensated Employee" 5 1.50 "Hour of Service" 6 1.51 "Immediately Distributable" 6 1.52 "Investment Manager" 6 1.53 "Key Employee" 6 TABLE OF CONTENTS
Contribution Percentage Amounts means the sum of the Employee Voluntary Contributions, Matching Contributions, Qualified Matching Contributions (to the extent not taken into account for purposes of the ADP test), and Qualified Non-elective Contributions (to the extent not take into account for purposes of the ADP test) made under the Plan on behalf of the Participant for the Plan Year. Such Contribution Percentage Amounts shall not include Matching Contributions that are forfeited either to correct Excess Aggregate Contributions or because the contributions to which they relate are Excess Deferrals, Excess Contributions, or Excess Aggregate Contributions. Elective Deferrals (to the extent not taken into account for purposes of the ADP test) may be included in the Contribution Percentage Amounts.
Contribution Percentage Amounts means the sum of the Employee Contributions, Employer matching contributions, and to the extent not taken into account for purposes of the Average Deferral Percentage test, "qualified non-elective contributions" and "qualified matching contributions" (as defined in sections 401(k) and (m) of the Code and regulations thereunder) made under the Plan on behalf of the Participant for the Plan Year. Such Contribution Percentage Amounts shall include forfeitures of Excess Aggregate Contributions or Employer matching contributions allocated to the Participant's account and shall be taken into account in the Plan Year in which such forfeiture is allocated. At the election of the Employer in the manner prescribed by the Secretary of the Treasury (and subject to such other requirements as may be prescribed by the Secretary of the Treasury), Elective Deferrals may also be included in the Contribution Percentage Amounts so long as the Average Deferral Percentage test is met before the Elective Deferrals are used in the Average Contribution Percentage test and continues to be met following the exclusion of those Elective Deferrals that are used to meet the Average Contribution Percentage test.
Contribution Percentage Amounts means the sum of the Matching Contributions and Qualified Matching Contributions (to the extent not taken into account for purposes of the Actual Deferral Percentage test) made under the Plan on behalf of the Participant for the Plan Year. Such Contribution Percentage Amounts shall not include the following: (a) Matching Contributions that are forfeited either to correct Excess Aggregate Contributions or because the contributions to which they relate are Excess Compensation Deferrals, Excess Elective Deferrals, or Excess Aggregate Contributions, (b) Matching Contributions made by reason of an Eligible Employee’s Qualified Military Service, and (c) disproportionate target Matching Contributions as described in Treasury Regulations Section 1.401(m)-2(a)(5)(ii). Notwithstanding the foregoing, such Contribution Percentage Amounts shall include forfeitures of Excess Aggregate Contribution Percentage Amounts allocated to the Participant’s Account, which shall be taken into account in the year in which such forfeiture is allocated. If it so desires, the Employer may make Qualified Non-elective Contributions designated for inclusion in the Contribution Percentage Amounts. The Employer also may elect to use Elective Deferral Contributions in the Contribution Percentage Amounts so long as the Actual Deferral Percentage test is met before the Elective Deferral Contributions are used in the Actual Contribution Percentage test and continues to be met following the exclusion of those Elective Deferrals that are used to meet the Actual Contribution Percentage test.