Common use of Maintained Clause in Contracts

Maintained. If the employer maintains other qualified defined contribution plans other than a master or prototype plan, any excess amount shall be considered attributable to amounts last allocated to such other plans and shall be handled in the manner provided for in such plans as follows: [Provide the method under which the plans will limit total annual additions to the maximum permissible amount, and will properly reduce any excess amounts in a manner that precludes employer discretion.]

Appears in 2 contracts

Sources: Adoption Agreement (Timberland Co), Adoption Agreement (JPS Packaging Co)