Eligible Highly Compensated Employee definition

Eligible Highly Compensated Employee means an Eligible Employee who is a Highly Compensated Employee.
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Eligible Highly Compensated Employee means an Eligible Employee who is also a Highly Compensated Employee.
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Eligible Highly Compensated Employee means each Highly Compensated Employee who would be entitled to receive a Nonelective Employer Contribution under the Aggregated Plan for the Plan Year if the provisions of this Section 5.03 did not apply.
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Examples of Eligible Highly Compensated Employee in a sentence

  • In the case of an Eligible Highly Compensated Employee who is eligible to participate in more than one cash or deferred arrangement of the Controlled Group, the Actual Deferral Percentage for such Employee shall be calculated by treating all the cash or deferred arrangements in which the Eligible Highly Compensated Employee is eligible to participate (including this Plan) as one arrangement; provided, however, that plans that are not permitted to be aggregated under Treas.

  • In the case of an Eligible Highly Compensated Employee who is eligible to participate in two or more plans of the Controlled Group to which employee contributions (within the meaning of Treas.

  • If any Eligible Highly Compensated Employee is a participant under two or more plans of the Controlled Group to which matching contributions or employee contributions are made, all such contributions shall be aggregated for purposes of this Section and in the event that such plans have different plan years, all such contributions made during the Plan Year under all such plans shall be aggregated.

  • The determination of the Actual Contribution Ratio for an Eligible Highly Compensated Employee and his family members (as defined in Section 414(q)(6) of the Code) shall be determined pursuant to regulations issued under Section 401(k) of the Code.

  • If any Eligible Highly Compensated Employee is a participant under two or more cash or deferred arrangements of the Controlled Group, all such arrangements shall be treated as one cash or deferred arrangement for purposes of determining the Actual Deferral Percentage with respect to such Eligible Highly Compensated Employee and in the event that such arrangements have different plan years, all Elective Contributions made during the Plan Year under all such arrangements shall be aggregated.

  • An "Eligible Highly Compensated Employee" is an Eligible Employee who is also a Highly Compensated Employee and who has also met the requirements to become a Participant under Article 2.

  • This amount is then distributed to the Eligible Highly Compensated Employee with the highest dollar amount of Before-Tax Contributions.

  • Deputy Superintendent Matheson gave a broad overview of the 2022-2023 GAAA #2.

  • In addition to the other conditions and limitations set forth in this Plan, Matching Contributions which are, for a Plan Year, allocated to the Matching Contributions Account of a Participant who is an Eligible Highly Compensated Employee, and which cause the Plan to fail the Contribution Percentage Test of Section 3.9 of this Plan or the special limitation of Section 3.11 of this Plan for such Plan Year shall be corrected pursuant to Section 3.10.

  • In addition to the other conditions and limitations set forth in this Plan, Matching Elective Contributions which are, for a Plan Year, allocated to the Matching Elective Contributions Account of a Participant who is an Eligible Highly Compensated Employee, and which cause the Plan to fail the Contribution Percentage Test of Section 3.9 of this Plan or the special limitation of Section 3.11 of this Plan for such Plan Year shall be corrected pursuant to Section 3.10.


More Definitions of Eligible Highly Compensated Employee

Eligible Highly Compensated Employee means a Highly Compensated Employee who has met the eligibility requirements of Section 2.1 to become a Participant, whether or not he has become a Participant.
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Eligible Highly Compensated Employee means a Highly Compensated Employee eligible to become a Member under Article II.
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Eligible Highly Compensated Employee means each Highly Compensated Employee who would be entitled to receive a Nonelective Employer Contribution under the Aggregated Plan for the Plan Year if the provisions of this Section 5.03 did not apply. Even if eligible for Nonelective Employer Contributions, GDIT GSA Highly Compensated Employees in the Aggregated Plan for the Plan Year will not be considered Eligible Highly Compensated Employees for purposes of the application of subparagraphs (a) and (b).
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Eligible Highly Compensated Employee means a Highly Compensated Employee who has met the eligibility requirements of Section 2.1 to become a Participant, whether or not he has become a Participant. In determining the average deferral percentage for any Eligible Employee who is an eligible Highly Compensated Employee for the Plan Year, Tax Deferred Contributions (excluding Catch-Up Contributions, if any) being made on his behalf under any other plan of an Employer or a Related Corporation shall be treated as if all such contributions were made to the Plan; provided, however, that if such a plan has a plan year different from the Plan Year, any such contributions made to the Highly Compensated Employee’s accounts under the plan during the Plan Year shall be treated as if such contributions were made to the Plan. Notwithstanding the foregoing, such contributions shall not be treated as if they were made to the Plan if Treasury Regulations issued under Section 401(k) of the Code do not permit such plan to be aggregated with the Plan. If one or more plans of an Employer or a Related Corporation are aggregated with the Plan for purposes of satisfying the requirements of Section 401(a)(4) or 410(b) of the Code, the average deferral percentages under the Plan shall be calculated as if the Plan and such one or more other plans were a single plan. Plans may be aggregated to satisfy Section 401(k) of the Code only if they have the same plan year and use the same non-discrimination testing method.
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Eligible Highly Compensated Employee means an eligible employee who is a Highly Compensated Employee.
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Related to Eligible Highly Compensated Employee

  • Non-Highly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • Highly Compensated Employee means any Employee who:

  • Nonhighly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • Non-Highly Compensated Participant means any Participant who is neither a Highly Compensated Employee nor a Family Member.

  • Highly Compensated Participant means any Highly Compensated Employee who is eligible to participate in the Plan.

  • Highly Compensated Former Employee means a former Employee who had a separation year prior to the "determination year" and was a Highly Compensated Employee in the year of separation from service or in any "determination year" after attaining age 55. Notwithstanding the foregoing, an Employee who separated from service prior to 1987 will be treated as a Highly Compensated Former Employee only if during the separation year (or year preceding the separation year) or any year after the Employee attains age 55 (or the last year ending before the Employee's 55th birthday), the Employee either received "415 Compensation" in excess of $50,000 or was a "five percent owner." For purposes of this Section, "determination year," "415 Compensation" and "five percent owner" shall be determined in accordance with Section 1.28. Highly Compensated Former Employees shall be treated as Highly Compensated Employees. The method set forth in this Section for determining who is a "Highly Compensated Former Employee" shall be applied on a uniform and consistent basis for all purposes for which the Code Section 414(q) definition is applicable.

  • Highly Compensated Individual means an individual defined under Code Section 125(e), as amended, as a "highly compensated individual" or a "highly compensated employee."

  • Elective Deferrals mean Compensation and Elective Deferrals for: . [Note: The Employer must complete the blank line with the applicable time period for computing the Basic Match, such as "each payroll period," "each calendar month," "each Plan Year quarter" or "the Plan Year."]

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Plan Year means the calendar year.

  • highly competent means performance which is not only good but also good enough to provide coaching and mentoring to other teachers, give advice to them and demonstrate to them effective teaching practice and how to make a wider contribution to the work of the school, in order to help them meet the relevant standards and develop their teaching practice.

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • 415 Compensation means:

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Eligible employer means an employer that:

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Deferral Percentage means the percentage (which, unless the Administrator, in his or her sole discretion, determines otherwise, shall be in whole percentage increments and not more than 90%) specified by the Participant to be the percentage of each payment of Compensation he or she wishes to defer under the Plan.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Matching Contribution means an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of a Participant's Deferral Contribution.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Limitation Year means the Plan Year.

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.