Common use of Factors Considered Clause in Contracts

Factors Considered. Factors include: (1) the steps taken by the Plan Sponsor to ensure that the plan either had no failures or corrected them through SCP or VCP, including the extent to which correction had progressed before the examination was initiated, (2) the amount of the fee the Plan Sponsor would have paid under section 12 for correcting the failures, (3) the number and type of employees affected by the failure, (4) the number of nonhighly compensated employees who would be adversely affected if the plan were not treated as qualified or as satisfying the requirements of □ 403(b) or □ 408(k),