Common use of Corrections with Regard to Participation Clause in Contracts

Corrections with Regard to Participation. 2.6.1 If in any Plan Year an Eligible Employee who should be included as a Participant in the Plan is erroneously omitted and discovery of such omission is not made until after a contribution by the Employer for the year has been made, the Employer shall make a subsequent contribution with respect to the omitted Eligible Employee in the amount which would have contributed with respect to such Eligible Employee had he or she not been omitted. Such contribution shall be made whether or not it is deductible in whole or in part in any taxable year under applicable provisions of the Code. It shall be the responsibility of the Employer and Administrator to take any and all actions as required by this Section 2.6.1.

Appears in 8 contracts

Samples: Adoption Agreement (Labor Ready Inc), Adoption Agreement (Innerdyne Inc), Adoption Agreement (Sterling Financial Corp /Wa/)

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