Limitation Year. The calendar year or such other twelve (12) consecutive month period designated by the Employer in the Adoption Agreement for purposes of determining the maximum Annual Additions to a Participant’s account. All Qualified Plans maintained by the Employer must use the same Limitation Year. If the Limitation Year is amended to a different twelve (12) consecutive month period, the new Limitation Year must begin on a date within the Limitation Year in which the amendment is made. If no designation is made on the Adoption Agreement, the Limitation Year will automatically default to the Plan Year. The Limitation Year under the SIMPLE 401(k) Adoption Agreement shall be the calendar year.
Appears in 4 contracts
Samples: Prototype Defined Contribution Plan (Fraternity Community Bancorp Inc), Prototype Defined Contribution Plan (Old Dominion Freight Line Inc/Va), Prototype Defined Contribution Plan (Athens Bancshares Corp)
Limitation Year. The calendar year or such other twelve (12) consecutive month period designated by the Employer in the Adoption Agreement for purposes of determining the maximum Annual Additions to a Participant’s account. All Qualified Plans maintained by the Employer must use the same Limitation Year. If the Limitation Year is amended to a different twelve (12) consecutive month period, the new Limitation Year must begin on a date within the Limitation Year in which the amendment is made. If no designation is made on the Adoption Agreement, the Limitation Year will automatically default to the Plan Year. The Limitation Year under the SIMPLE 401(k) Adoption Agreement shall be the calendar year.
Appears in 3 contracts
Samples: Prototype Defined Contribution Plan (United Community Bancorp), Prototype Defined Contribution Plan (FNB United Corp.), Century Bancorp Inc
Limitation Year. The calendar year or such other twelve (12) consecutive month period designated by the Employer in the Adoption Agreement for purposes of determining the maximum Annual Additions to a Participant’s 's account. All Qualified Plans maintained by the Employer must use the same Limitation Year. If the Limitation Year is amended to a different twelve (12) consecutive month period, the new Limitation Year must begin on a date within the Limitation Year in which the amendment is made. If no designation is made on the Adoption Agreement, the Limitation Year will automatically default to the Plan Year. The Limitation Year under the SIMPLE 401(k) Adoption Agreement shall be the calendar year.
Appears in 3 contracts
Samples: Prototype Defined Contribution Plan (1st Constitution Bancorp), Prototype Defined Contribution Plan (Wellesley Bancorp, Inc.), Prototype Defined Contribution Plan (Savannah Bancorp Inc)
Limitation Year. The A Plan Year, calendar year or such other twelve (12) -consecutive month period designated by the Employer selected in the Adoption Agreement used for purposes of determining the maximum Annual Additions to a Participant’s accountlimitation of Code Section 415. All Qualified Plans qualified plans maintained by the Employer must use the same Limitation Year. If the Limitation Year is amended to a different twelve (12) -consecutive month period, the new Limitation Year must begin on a date within the Limitation Year in which the amendment is made. If no designation is made on Unless selected otherwise in the Adoption Agreement, the Limitation Year will automatically default to shall be the Plan Year. The Limitation Year under the SIMPLE 401(k) Adoption Agreement shall be the calendar year.
Appears in 2 contracts
Samples: Non Standardized (Atlas America Inc), Comstock Resources Inc
Limitation Year. The calendar year or such other twelve (12) consecutive month period designated by the Employer in the Adoption Agreement for purposes of determining the maximum Annual Additions to a Participant’s 's account. All Qualified Plans maintained by the Employer must use the same Limitation Year. If the Limitation Year is amended to a different twelve (12) consecutive month period, the new Limitation Year must begin on a date within the Limitation Year in which the amendment is made. If no designation is made on the Adoption Agreement, the Limitation Year will automatically default to the Plan Year. The Limitation Year under the SIMPLE 401(k) Adoption Agreement shall be the calendar year.
Appears in 1 contract
Samples: Measurement Specialties Inc
