Common use of More than One Plan Clause in Contracts

More than One Plan. (a) Two or more defined contribution plans. This subsection (a) applies if, in addition to this Plan, a Participant is covered under another qualified defined contribution plan (whether or not terminated) maintained by the Employer for the current and all prior Limitation Years. For this purpose, another qualified defined contribution plan shall include the Annual Additions attributable to a Participant’s Nondeductible Employee Contributions to all defined benefit plans (whether or not terminated) maintained by the Employer, and the Annual Additions attributable to all welfare benefit funds (as defined in Code section 419(e)) maintained by the Employer, and an individual medical account (as defined in Code section 415(l)(2)) maintained by the Employer, which provides an Annual Addition during any Limitation Year. The maximum aggregate amount in any Limitation Year is the lesser of 125 percent of the dollar limitation determined under Code sections 415(b) and (d) in effect under Code section 415(c)(1)(A) or 35 percent of the Participant’s 415(c) Compensation for such Year.

More than One Plan. (a) Two or more defined contribution plans. This subsection (a) applies if, in addition to this Plan, a Participant is covered under another qualified defined contribution plan (whether or not terminated) maintained by the Employer for the current and all prior Limitation Years. For this purpose, another qualified defined contribution plan shall include the Annual Additions attributable to a Participant’s 's Nondeductible Employee Contributions to all defined benefit plans (whether or not terminated) maintained by the Employer, and the Annual Additions attributable to all welfare benefit funds (as defined in Code section 419(e)) maintained by the Employer, and an individual medical account (as defined in Code section 415(l)(2)) maintained by the Employer, which provides an Annual Addition during any Limitation Year. The maximum aggregate amount in any Limitation Year is the lesser of 125 percent of the dollar limitation determined under Code sections 415(b) and (d) in effect under Code section 415(c)(1)(A) or 35 percent of the Participant’s 's 415(c) Compensation for such Year.