Maximum Annual Addition. The Annual Addition to a Participant's accounts under this Plan and any other defined contribution plan maintained by any Related Company for any Plan Year shall not exceed the lesser of (1) 25% of his or her Taxable Income or (2) the greater of $30,000 or one-quarter of the dollar limitation in effect under Code section 415(b)(1)(A).
Appears in 3 contracts
Sources: Retirement & Savings Plan (Bank Jos a Clothiers Inc /De/), Employees' Savings Plan and Trust Agreement (Timken Co), Plan and Trust Agreement (Roadway Services Inc)
Maximum Annual Addition. The Annual Addition to a Participant's accounts under this Plan and any other defined contribution plan maintained by any Related Company for any Plan Year shall not exceed the lesser of (1) 25% of his or her Taxable Income or (2) the greater of $30,000 or one-quarter (as adjusted for the cost of the dollar limitation in effect under living pursuant to Code section 415(b)(1)(A415(d)).
Appears in 3 contracts
Sources: Employee Savings Plan Agreement (Nipsco Industries Inc), Savings Plan and Trust Agreement (Nipsco Industries Inc), Financial Security Plan and Trust Agreement (Caliber System Inc)
Maximum Annual Addition. The Annual Addition to a Participant's accounts under this the Plan and any other defined contribution plan maintained by any Related Company for any Plan Year shall not exceed the lesser of (1) 25% of his or her Taxable Income or (2) the greater of $30,000 or one-quarter (as adjusted for the cost of the dollar limitation in effect under living pursuant to Code section 415(b)(1)(A415(d)).
Appears in 2 contracts
Sources: Wells Fargo & Company Tax Advantage and Retirement Plan and Trust Amendment (Wells Fargo & Co/Mn), MPB Employees' Savings Plan and Trust Amendment (Timken Co)
Maximum Annual Addition. The Annual Addition to a Participant's accounts under this Plan and any other defined contribution plan maintained by any Related Company for any Plan Year shall not exceed the lesser of (1) 25% of his or her Taxable Income Compensation or (2) the greater of $30,000 or one-quarter (as adjusted for the cost of the dollar limitation in effect under living pursuant to Code section 415(b)(1)(A415(d).
Appears in 1 contract
Sources: Retirement Savings Plan and Trust Agreement (Southdown Inc)
Maximum Annual Addition. The Annual Addition to a Participant's ’s accounts under this Plan and any other defined contribution plan maintained by any Related Company for any Plan Year shall not exceed the lesser of (1a) 25100% of his or her Taxable Income Compensation, or (2b) $56,000 (as adjusted for the greater cost of $30,000 or one-quarter of the dollar limitation in effect under living pursuant to Code section 415(b)(1)(ASection 415(d)).
Appears in 1 contract
Sources: 401(k) Plan and Trust Agreement (Leggett & Platt Inc)
Maximum Annual Addition. The Annual Addition to a Participant's accounts under this Plan and any other defined contribution plan maintained by any Related Company for any Plan Year shall not exceed the lesser of (1) 25% of his or her Taxable Income or (2) the greater of $30,000 or one-quarter (as adjusted for the cost of the dollar limitation in effect under living pursuant to Code section 415(b)(1)(A415(d).). Effective July 1, 1995: -----------------------
1. Section 1 is amended to restate Subsection 1.18 in its entirety as follows:
Appears in 1 contract
Sources: Employee Savings Plan and Trust Amendment (Charter One Financial Inc)
Maximum Annual Addition. The Annual Addition to a Participant's ’s accounts under this Plan and any other defined contribution plan maintained by any Related Company for any Plan Year shall not exceed the lesser of (1a) 25100% of his or her Taxable Income Compensation, or (2b) $70,000 (as adjusted for the greater cost of $30,000 or one-quarter of the dollar limitation in effect under living pursuant to Code section 415(b)(1)(ASection 415(d)).
Appears in 1 contract
Sources: 401(k) Plan and Trust Agreement (Leggett & Platt Inc)