Four-Step Integrated Allocation Formula Sample Clauses

Four-Step Integrated Allocation Formula. (1) For each Participant eligible to share in the allocation for a Plan Year, contributions to Profit Sharing Contributions Accounts with respect to a Plan Year, plus any forfeitures, if forfeitures are reallocated to Participants, shall be allocated to the Profit Sharing Contributions Account of each eligible Participant as follows: (a) First, in the ratio that each eligible Participant’s Plan Compensation for the Plan Year bears to the sum of all such Participants’ Plan Compensation for the Plan Year, but not in excess of 3% of each Participant’s Plan Compensation. For this first step, a “Participant” means, in addition to any eligible Participant for the Plan Year, any other Participant entitled to a Top-Heavy minimum contribution for that Plan Year.