Current Year Testing Method. The term “Current Year Testing Method” means the nondiscrimination testing method in which (a) for purposes of the ADP Test, the ADP for Participants who are Highly Compensated Employees for the Plan Year that is being tested is compared to the ADP for Participants who are Non-Highly Compensated Employees for the Plan Year that is being tested; and (b) for purposes of the ACP Test, the ACP for Participants who are Highly Compensated Employees for the Plan Year that is being tested is compared to the ACP for Participants who are Non-Highly Compensated Employees for the Plan Year that is being tested.
Appears in 2 contracts
Sources: 401(k) Non Standardized Prototype Adoption Agreement (Michaels Stores Inc), 401(k) Non Standardized Prototype Adoption Agreement (Littelfuse Inc /De)