Highly Compensated Employee Sample Clauses

Highly Compensated Employee. The term Highly Compensated Employee includes highly compensated active employees and highly compensated former employees.
AutoNDA by SimpleDocs
Highly Compensated Employee. Effective for years after December 31, 1996, the term Highly Compensated Employee means any Employee who: (1) is a 5% or more owner at any time during the year or preceding year, or (2) for the preceding year had Compensation from the Employer in excess of $80,000 and if the Employer so elects in the Adoption Agreement, is in the Top-Paid Group for the preceding year. The $80,000 amount is adjusted at the same time and in the same manner as under Code Section 415(d), except that the base period is the calendar quarter ending September 30, 1996. For the determination of who is a Highly Compensated Employee, the applicable year of the Plan for which a determination is being made is called a determination year and the preceding twelve (12) month period is called a look-back year. Employees who do not meet the Highly Compensated Employee definition are considered Non-Highly Compensated Employees. A Highly Compensated former Employee is based on the rules applicable to determining Highly Compensated Employee status in effect for that determination year, in accordance with Section 1.414(q)-1T, A-4 of the temporary Income Tax Regulations and IRS Notice 97-45. In determining whether an Employee is a Highly Compensated Employee for years beginning in 1997, the amendments to Code Section 414(q) stated above are treated as having been in effect for years beginning in 1996. In order to be effective, a Top-Paid Group election or calendar year data election must apply consistently to all plans of the Employer that begin with or within the same calendar year.
Highly Compensated Employee. 3 1.17. Hour of Service.................................................................................4 1.18. Leased Employee.................................................................................5 1.19.
Highly Compensated Employee. The determination of who is a Highly Compensated Employee, including the determinations of the number and identify of employees in top-paid group, the top 100 employees, the number of employees treated as officers and the compensation that is considered, will be made in accordance with section 414(q) of the Code and the regulations thereunder.
Highly Compensated Employee. 2 5.2 Top-Heavy Determination ............. 7 1.14 XXX or SEP-XXX ..................... 2 5.3
Highly Compensated Employee. Any Employee who performs service for the Employer during the determination year and who, during the immediate prior year:
Highly Compensated Employee. An individual described in Code Section 414(q) who, during the current or preceding Plan Year: (a) Was a 5% owner as defined in Code Section 416(i)(1)(B)(i); (b) Received Compensation in excess of $50,000, as adjusted pursuant to Code Section 415(d), and was in the top-paid group (the top 20% of Employees ranked by Compensation); (c) Received Compensation in excess of $75,000, as adjusted pursuant to Code Section 415(d); or (d) Was an officer as defined in Code Section 416(i)(1)(A) and received Compensation in excess of 50% of the dollar limit on annual benefits payable under Code Section 415 for defined benefit plans. 1.13 INDIVIDUAL RETIREMENT ACCOUNT AIM Distributors, Inc. Individual Retirement Account which meets the requirements of Code Section 408(a) established in conjunction with the Employer's Plan (IRA), xs the recipient of the Employer's contributions for the benefit of a participating Employee. 1.14
AutoNDA by SimpleDocs
Highly Compensated Employee. (a) For a particular Plan Year, an Employee (i) who, during the current or preceding Plan Year, was at any time a 5-percent owner (as such term is defined in section 416(i)(1) of the Code, or (ii) for the preceding Plan Year, received compensation from the Controlled Group in excess of the amount in effect for such Plan Year under section 414(q)(1)(B) of the Code.
Highly Compensated Employee. 3 1.24 Hours of Service - Means ........................................ 3 1.25
Highly Compensated Employee effective January 1, 1997, means an Employee described in Code section 414(q) and the Regulations thereunder, and generally means an Employee who performed services for the Employer during the “determination year” and is in one or more of the following groups:
Time is Money Join Law Insider Premium to draft better contracts faster.