CONTRIBUTIONS COUNTED TOWARDS. MINIMUM For purposes of satisfying the minimum contribution requirement under Code Section 416, only Employer contributions shall be taken into account. Employee Elective Deferrals shall not be considered. 7.3 TOP-HEAVY DETERMINATION This Plan is Top-Heavy for a Plan Year if, as of the last day of the previous Plan Year (or current Plan Year if this is the first year of the Plan) the total of elective and non-elective contributions made on behalf of Key Employees for all years this Plan has been in existence exceeds 60% of such contributions for all Employees who were eligible to participate. If the Employer maintains (or maintained within the prior five years) any other SEP or defined contribution plan in which a Key Employee participates (or participated), the contributions or account balances, whichever is applicable, must be aggregated with the contributions made to this Plan. The contributions (and
Appears in 5 contracts
Samples: Savings Agreement (Aim Equity Funds Inc), Savings Agreement (Aim Funds Group/De), Savings Agreement (Aim Investment Securities Funds Inc)
