Alternative Limitation. The HCE Group Average Percentage is limited by reference to the NHCE Group Average Percentage as follows:
Alternative Limitation. The HCE Group Average Percentage is limited by reference to the NHCE Group Average Percentage as follows: IF THE NHCE GROUP THEN THE MAXIMUM HCE AVERAGE PERCENTAGE IS: GROUP AVERAGE PERCENTAGE IS: Less than 2% 2 times NHCE Group Average % 2% to 8% NHCE Group Average % plus 2% More than 8% NA - Basic Limitation applies Alternatively, the Company may elect to use the Plan Year's ADP for the NHCE Group for the Plan Year and/or the Plan Year's ACP for the NHCE Group for the Plan Year. If such election is made, such election may not be changed except as provided by the Code.
Alternative Limitation. The Actual Contribution Percentage for all Eligible Participants who are Highly Compensated Employees for the Plan Year does not exceed the lesser of (a) Actual Contribution Percentage for Eligible Participants who are Nonhighly Compensated Employees for the Plan Year multiplied by 2.0; or (b) the Actual Contribution Percentage of the Eligible Participants who are Nonhighly Compensated Employees plus 2.0 percentage points. However, effective for Plan Years beginning after December 31, 1998, the Employer hereby elects to use the current Plan Year's Actual Contribution Percentage for all Eligible Participants who are Nonhighly Compensated Employees. Hence, when applying the primary and alternative limitations above, the Employer will use the Actual Contribution Percentage of the Eligible Participants who are Nonhighly Compensated Employees for the current Plan Year. This election may be changed only as permitted by the Secretary of Treasury.
Alternative Limitation. If the alternative limitation referred to in Section 3.1(e)(1)(B) is exceeded, then the Administrator shall take corrective action under either this Section, Section 3.8, or a combination of the two, as determined by the Administrator.
Alternative Limitation. The Actual Deferral Percentage for all Eligible Participants who are Highly Compensated Employees for the Plan Year must not exceed the lesser of (a) the Actual Deferral Percentage for all Eligible Participants who are Nonhighly Compensated Employees for the Plan Year multiplied by 2.0 or (b) the Actual Deferral Percentage of the Eligible Participants who are Nonhighly Compensated Employees plus 2.0 percentage points. The amounts may be further limited as the Secretary of Treasury shall prescribe in order to prevent the multiple use of this alternative limitation for both the Actual Deferral Percentage Test and the Average Contribution Percentage Test as specified in Treasury Regulation Section 1.401(m)-2(b) and Section 1(C) (v) of Article VIII. However, effective for Plan Years beginning after December 31, 1996, the Employer hereby elects to use the prior Plan Year's Actual Deferral Percentage for all Eligible Participants who are Nonhighly Compensated Employees. Hence, when applying the primary and alternative limitations above, the Employer will use the Actual Deferral Percentage of the Eligible Participants who are Nonhighly Compensated Employees for the prior Plan Year. This election may be changed only as permitted by the Secretary of Treasury.
Alternative Limitation. The Actual Deferral Percentage for all Eligible Participants who are Highly Compensated Employees for the current Plan Year must not exceed the lesser of (a) the Actual Deferral Percentage for all Eligible Participants who are Nonhighly Compensated Employees multiplied by 2.0; or (b) the Actual Deferral Percentage of the Eligible Participants who are Nonhighly Compensated Employees plus 2.0 percentage points. Effective for Plan Years beginning on or before December 31, 2001, the amounts may be further limited as the Secretary of Treasury shall prescribe in order to prevent the multiple use of this alternative limitation for both the Actual Deferral Percentage Test and the Actual 107 Contribution Percentage Test, as specified in Treas. Reg. 1.401(m)-2(b) and Section 1(C)(vi) of Article VIII.
Alternative Limitation. The HCE Group Average Percentage is limited by reference to the NHCE Group Average Percentage as follows: THEN THE MAXIMUM HCE IF THE NHCE GROUP GROUP AVERAGE AVERAGE PERCENTAGE IS: PERCENTAGE IS: Less than 2% 2 times NHCE Group Average % 2% to 8% NHCE Group Average % pIus 2% More than 8% NA - Basic Limitation applies For Plan Years commencing after December 31, 1996, for each Plan Year, the Prior Year Testing Method shall be used and the ADP and ACP for the HCE Group must meet either the Basic or Alternative Limitation when compared to the respective preceding Plan Year's ADP and ACP for the preceding Plan Year's NHCE Group, defined as follows:
Alternative Limitation. The HCE Group Average Percentage is limited by reference to the NHCE Group Average Percentage as follows: If the NHCE Group Then the Maximum HCE Average Percentage is: Group Average Percentage is: --------------------- --------------------------- Less than 2% 2 times NHCE Group Average % 2% to 8% NHCE Group Average % plus 2% More than 8% NA - Basic Limitation applies Alternatively, the Company may elect to use the Current Year Testing Method and the ADP and/or ACP for the HCE Group must meet either the Basic or Alternative Limitation as defined above when compared to the respective Plan Year's ADP and/or ACP for the Plan Year's NHCE Group. If a Current Year Testing Method election is made, such election may not be changed except as provided by the Code. In the case of the first Plan Year in which the Plan is subject to the requirements of Code section 401(k), the amount taken into account as the "preceding Plan Year's ADP for the preceding Plan Year's NHCE Group", shall be (i) 3%, or (ii) if the Company elects, the Plan Year's ADP. The preceding sentence shall not apply with regard to a Plan that is a successor plan or, if for such first Plan Year, the Plan is aggregated with another plan that was subject to the requirements of Code section 401(k) in the preceding year and treated as one plan for purposes of meeting the ADP Test. In the case of the first Plan Year in which the Plan is subject to the requirements of Code section 401(m), the amount taken into account as the "preceding Plan Year's ACP for the preceding Plan Year's NHCE Group", shall be (i) 3%, or (ii) if the Company elects, the Plan Year's ACP. The preceding sentence shall not apply with regard to a Plan that is a successor plan or, if for such first Plan Year, the Plan is aggregated with another plan that was subject to the requirements of Code section 401(m) in the preceding year and treated as one plan for purposes of meeting the ACP Test.
Alternative Limitation. The HCE Group Average Percentage is limited by reference to the NHCE Group Average Percentage as follows: If the NHCE Group Average Percentage is: Then the Maximum HCE Group Average Percentage is: Less than 2% 2% to 8% More than 8% 2 times NHCE Group Average % NHCE Group Average % plus 2% NA - Basic Limitation applies For Plan Years commencing after December 31, 1996, for each Plan Year, the ADP and ACP for the HCE Group must meet either the Basic or Alternative Limitation when compared to the respective preceding Plan Year's ADP and ACP for the preceding Plan Year's NHCE Group, defined as follows:
Alternative Limitation. The HCE Group Average Percentage is limited by reference to the NHCE Group Average Percentage as follows: If the NHCE Group Then the Maximum HCE Average Group Average Percentage Percentage is: is: Less than 2% 2 times NHCE Group Average % 2% to 8% NHCE Group Average % plus 2% More than 8% NA - Basic Limitation applies Alternatively, the Company may elect to use the Plan Year's ADP for the NHCE Group for the Plan Year and/or the Plan Year's ACP for the NHCE Group for the Plan Year. If such election is made, such election may not be changed except as provided by the Code. In the case of the first Plan Year in which the Plan is subject to the requirements of Code section 401(k), the amount taken into account as the "preceding Plan Year's ADP for the preceding Plan Year's NHCE Group", shall be (i) 3%, or (ii) if the Company elects, the Plan Year's ADP and in the case of the first Plan Year in which the Plan is subject to the requirements of Code section 401(m), the amount taken into account as the "preceding Plan Year's ACP for the preceding Plan Year's NHCE Group", shall be (i) 3%, or (ii) if the Company elects, the Plan Year's ACP.
