Automatic Deferrals Sample Clauses

Automatic Deferrals. The Employer in its Adoption Agreement will elect whether to apply or not apply the Automatic Deferral provisions of this Section 3.02(B).

Automatic Deferrals. Each Participant who has failed to make an election to defer a portion of his or her Compensation shall be automatically enrolled in the Plan upon meeting the eligibility requirements. The amount of a Participant’s automatic deferrals shall be calculated as follows: (a) The deferral of 3% of Compensation, which amount shall be deferred during the Plan Year in which the Participant commences participation; (b) The deferral of 4% of Compensation, which amount shall be deferred during the entire Plan Year that contains the first anniversary date of the commencement of the Participant’s participation; (c) The deferral of 5% of Compensation, which amount shall be deferred during the entire Plan Year that contains the second anniversary date of the commencement of the Participant’s participation; and (d) The deferral of 6% of Compensation, which amount shall be deferred during the entire Plan Year that contains the third anniversary date of the commencement of the Participant’s participation and during each subsequent Plan Year until the Participant affirmatively elects otherwise in accordance with Sections 5.04 and 5.06.

Automatic Deferrals. The Employer in its Adoption Agreement will elect whether to apply or not apply the Automatic Deferral provisions. The Employer may elect the Automatic Deferral provisions under a Section 3.02(B)(1) (ACA), a Section 3.02(B)(2) (EACA), or a Section 3.02(B)(3) (QACA). If the QACA provisions apply, the safe harbor provisions of Section 3.05(J) and EACA provisions of Section 3.02(B)(2) also apply. The Plan Administrator will treat Automatic Deferrals as Elective Deferrals for all purposes under the Plan, including application of limitations, nondiscrimination testing and distributions. If the Employer in its Adoption Agreement has elected to permit R▇▇▇ Deferrals, Automatic Deferrals are Pre-Tax Deferrals unless the Employer in Appendix B elects otherwise. Automatic Deferrals will not apply to a Participant until after the Participant has had a reasonable period of time after being informed of the automatic deferral procedure to make a Contrary Election (and, if applicable, an investment election).

Automatic Deferrals. Each Eligible QACA Participant shall be deemed to have elected to have his/her Employer make Pre-Tax Contributions or ▇▇▇▇ Contributions in an amount equal to the Qualified Percentage of Compensation as selected by the Primary Employer in the Adoption Agreement. However, QACA Automatic Deferrals shall cease to apply with respect to any Eligible QACA Participant if such Participant makes an affirmative election: (A) to not have such Pre-Tax Contributions or ▇▇▇▇ Contributions made, or (B) to make such Pre-Tax Contributions or ▇▇▇▇ Contributions at a level specified in such affirmative election.

Automatic Deferrals. The Employer in its Adoption Agreement will elect whether to apply or not apply the Automatic Deferral provisions. The Employer may elect the Automatic Deferral provisions under a Section 3.02(B)(1) (ACA), a Section 3.02(B)(2) (EACA), or a Section 3.02(B)(3) (QACA). If the QACA provisions apply, the safe harbor provisions of Section 3.05(J) and EACA provisions of Section 3.02(B)(2) also apply. The Plan Administrator will treat Automatic Deferrals as Elective Deferrals for all purposes under the Plan, including application of limitations, nondiscrimination testing and distributions. If the Employer in its Adoption Agreement has elected to permit ▇▇▇▇ Deferrals, Automatic Deferrals are Pre‑Tax Deferrals unless the Employer in Appendix B elects otherwise.

Automatic Deferrals. The Employer in its Adoption Agreement will elect whether to apply or not apply the Automatic Deferral provisions. The Employer may elect the Automatic Deferral provisions under Section 3.02(B)(1) (an ACA), Section 3.02(B)(2) (an EACA), or Section 3.02(B)(3) (a QACA). If the QACA provisions apply, the safe harbor provisions of Section 3.05(J) will automatically apply, and the EACA provisions of Section 3.02(B)(2) will apply if elected by the Employer in its Adoption Agreement. The Plan Administrator will treat Automatic Deferrals as Elective Deferrals for all purposes under the Plan, including application of limitations, nondiscrimination testing and distributions. If the Employer in its Adoption Agreement has elected to permit ▇▇▇▇ Deferrals, Automatic Deferrals are Pre Tax Deferrals unless the Employer in Appendix B to its Adoption Agreement elects otherwise. Automatic Deferrals will not apply to a Participant until after the Participant has had a reasonable period of time after being informed of the automatic deferral procedure to make a Contrary Election (and, if applicable, an investment election). The Plan Administrator shall direct the Vendor regarding the operational details of the Employer’s elected Automatic Deferral provisions, to the extent not explicitly set forth in the Adoption Agreement and subject to the Vendor’s operational capabilities.

Automatic Deferrals