QNEC definition

QNEC means the qualified non-elective contribution made from time to time by an Employer to the Trustee in accordance with Section 4.05.

QNEC means a qualified non-elective contribution as defined in Regulation Section 1.401(m)-5 that is made to the Plan under Section 4.4(f).

QNEC means a qualified non elective contribution made pursuant to Section 12.

Examples of QNEC in a sentence

• The QNEC is calculated solely to establish emissions that are used to complete the District’s PAS emissions profile screen.

• The BE calculation (in lb/year) is performed pollutant-by-pollutant for each unit within the project to calculate the QNEC, and if applicable, to determine the amount of offsets required.

• The Employer shall have the right to make a QNEC contribution in the amount necessary to pass the ADP/ACP Test or the maximum permitted under Code Section 415.

• The Employer will not make an Operational QNEC in an amount which exceeds the targeting limitations.

• The Employer shall have the right to make a discretionary QNEC contribution which shall be allocated to each eligible Participant’s account in a uniform dollar amount to be determined by the Employer and allocated in a nondiscriminatory manner.

More Definitions of QNEC

QNEC means a qualified non-elective contribution made to the Plan pursuant to Section 3.5(f).

QNEC a Discretionary Employer Contribution which the Administrator elects to have treated as a "qualified nonelective contribution" within the meaning of Code section 401(m)(4)(C). Under specified circumstances described in Treas. Regs. Section 1.401(k)-1(b)(5) and Treas. Regs.

QNEC means a contribution made to the plan pursuant to Section 4.08.

QNEC means a qualified nonelective contribution as defined in Regulation Section 1.401(k)‑6.

QNEC an extraordinary contribution, known as a “qualified nonelective employer contribution”, made by the Employer as a means of passing the actual deferral percentage test of section 401(k) of the Code or the actual contribution percentage test of section 401(m) of the Code.

QNEC means a qualified nonelective contribution that (i) is made to the Plan pursuant to Section 3.5, and (ii) complies with the definition of qualified nonelective contribution set forth in Treasury Regulation Section 1.401(k)-6.

QNEC means a “qualified non-elective” contribution made by the Company that is neither a Pre-tax Contribution, After-tax Contribution, Company Contribution, nor a “qualified matching contribution”, that is 100% vested and non-forfeitable when made, that a Participant may not elect to receive in cash, and that is distributable only in accordance with the distribution restrictions applicable to Pre-tax Contributions under the Plan, except that QNECs may not be distributed on account of hardship.