Common use of Coverage Requirements: Testing Methods Clause in Contracts

Coverage Requirements: Testing Methods. The Plan shall at all times comply with the provisions of Code section 410(b) and the Regulations thereunder and may use any method of testing permitted therein and, in determining the portion of the Plan benefiting otherwise excludable employees, the Plan Administrator may use (1) the maximum entry date set forth in Code section 410(a), (2) the Plan’s entry date, (3) the date the Participant attains the age of 21 and completes one Year of Service, or (4) any reasonable entry date convention which is nondiscriminatory and which does not exceed the maximum entry date set forth in Code section 410(a).

Appears in 1 contract

Sources: Basic Plan Document (Fairfax Financial Holdings LTD/ Can)

Coverage Requirements: Testing Methods. The Plan shall at all times comply with the provisions of Code section 410(b) and the Regulations thereunder and may use any method of testing permitted therein and, in determining the portion of the Plan benefiting otherwise excludable employees, the Plan Administrator may use (1) the maximum entry date set forth in Code section 410(a), (2) the Plan’s entry date, (3) the date the Participant attains the age of 21 and completes one Year of Service, or (4) any reasonable entry date convention which is nondiscriminatory and which does not exceed the maximum entry date set forth in Code section 410(a).” 20. The introductory phrase in the first sentence of subsection (b) of Section 5.03

Appears in 1 contract

Sources: Adoption Agreement (Fairfax Financial Holdings LTD/ Can)