Monitoring Participants’ Deferral Percentages; Adjustments Sample Clauses

Monitoring Participants’ Deferral Percentages; Adjustments. The Plan Administrator will monitor Participant’s deferral percentages to insure compliance with the requirements of Subsection (e) above. Any adjustments in Participants’ elections or actual Salary Deferral Contributions necessary to meet the requirements of Subsection (e) will be made as follows. The Plan Administrator will reduce the deferral percentage of the Participant (or Participants) in the Higher Paid Group with the highest deferral percentage until it reaches the deferral percentage of the Participant (or Participants) in the Higher Paid Group with the next highest deferral percentage; next the Plan Administrator will reduce the deferral percentages of both or all such Participants until they reach that of the Participant with the then next highest deferral percentage; and so on. The foregoing reductions will be made only to the extent necessary to meet the requirements of Subsection (e).
Sample 1
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Monitoring Participants’ Deferral Percentages; Adjustments. The plan administrator (or an administrative services provider - which may be the trustee or the sponsor - retained by the plan administrator to perform participant recordkeeping and other administrative duties) will monitor participants' deferral percentages to insure compliance with the requirements of Section 5.6 above. Any adjustments in participants' elections or actual 401(k) savings contributions necessary to meet the requirements of Section 5.6 will be made as follows. The plan administrator will reduce the deferral percentage of the participant (or participants) in the higher paid group with the highest deferral percentage until it reaches the deferral percentage of the participant (or participants) in the higher paid group with the next highest deferral percentage; next the plan administrator will reduce the deferral percentages of both or all such participants until they reach that of the participant with the then next highest deferral percentage; and so on. The foregoing reductions will be made only to the extent necessary to meet the requirements of Section 5.6.
Sample 1

Related to Monitoring Participants’ Deferral Percentages; Adjustments

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Deferral Account 3.1 Establishing and Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • Non-availability of matching deposits for Interest Period selected If, after the Borrowers have selected and the Lender has agreed an Interest Period longer than 6 months, the Lender notifies the Borrowers by 11.00 a.m. (London time) on the third Business Day before the commencement of the Interest Period that it is not satisfied that deposits in Dollars for a period equal to the Interest Period will be available to it in the London Interbank Market when the Interest Period commences, the Interest Period shall be of 6 months.

  • Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

  • VALUE OF PARTICIPANT'S ACCRUED BENEFIT If a distribution (other than a distribution from a segregated Account) occurs more than 90 days after the most recent valuation date, the distribution will include interest at: (Choose (a), (b) or (c))

  • In-Service Distributions [X] (1) In-service distributions may be made from any of the Participant's vested Accounts, at any time upon or after the occurrence of the following events (select all applicable): [X] (a) a Participant's attainment of age 59-1/2. [X] (b) due to hardships as defined in Section 5.9 of the Plan. [ ] (2) In-service distributions are not permitted.

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