Safe Harbor Nonelective Contribution definition

Safe Harbor Nonelective Contribution means a contribution described in Code §401(k)(12)(C) or Code§401(k)(13)(D)(i)(II) of at least 3% of Compensation.
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Safe Harbor Nonelective Contribution means a contribution described in Code §401(k)(12)(C) or Code §401(k)(13)(D)(i)(II) of at least 3% of Compensation.
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Safe Harbor Nonelective Contribution. (no less than 3%) of Included Compensation.
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Examples of Safe Harbor Nonelective Contribution in a sentence

  • The Safe Harbor Nonelective Contribution applies toward (offsets) most other Employer Nonelective Contributions.

  • A Safe Harbor Nonelective Contribution is a QNEC, except that the Employer in its Adoption Agreement may elect to apply a QACA vesting schedule to a Safe Harbor Nonelective Contribution the Employer makes to a QACA.

  • A Safe Harbor Contribution is a Safe Harbor Nonelective Contribution or a Safe Harbor Matching Contribution as the Employer elects in its Adoption Agreement and includes a QACA Safe Harbor Contribution.

  • The Employer under Election 6(f) will (or in the case of the Safe Harbor Nonelective Contribution may) contribute the following Safe Harbor Contributions described in Section 3.05(E) and will or may contribute Additional Matching Contributions described in Section 3.05(F).

  • A Safe Harbor Nonelective Contribution is a Fixed Nonelective Contribution in an amount the Employer elects in its Adoption Agreement, which must equal at least 3% of each Participant's Compensation unless the Employer elects to limit Safe Harbor Nonelective Contributions to NHCEs under Section 3.05(E)(9) or unless Section 3.05(D) applies.

  • The Safe Harbor Nonelective Contribution equals % of a Participant's Compensation.

  • To qualify as a Safe Harbor 401(k) Plan, the Employer must make a Safe Harbor Nonelective Contribution or a Safe Harbor Matching Contribution under the Plan.

  • Safe Harbor Contribution means a Safe Harbor Nonelective Contribution or a Safe Harbor Matching Contribution as the Employer elects in its Adoption Agreement.

  • Such contributions are subject to special vesting and distribution restrictions and must be allocated to the Eligible Participants' Safe Harbor Nonelective Contribution Account or Safe Harbor Matching Contribution Account, as applicable.

  • The addition of a vesting schedule under Part 6 for such contributions is not considered an amendment of the vesting schedule under Section 4.7 below merely because the Participant was fully vested in his/her Safe Harbor Nonelective Contribution Account or Safe Harbor Matching Contribution Account.


More Definitions of Safe Harbor Nonelective Contribution

Safe Harbor Nonelective Contribution means an Employer contribution made under a Plan which is adopted using Adoption Agreement NS-2 and which meets all of the following requirements:
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Safe Harbor Nonelective Contribution means any Employer Contribution designated as such and made to the Plan as provided in Article VI that meets the requirements of Code Section 401(k)(12)(C).
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Safe Harbor Nonelective Contribution means the Employer Contribution referred to in Section 4.1(a)(i).
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Related to Safe Harbor Nonelective Contribution

  • 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.

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.