Common use of PLAN CORRECTION Clause in Contracts

PLAN CORRECTION. The Advisory Committee in conjunction with the Employer may undertake such correction of Plan errors as the Advisory Committee deems necessary, including correction to preserve tax qualification of the Plan under Code (S)401(a) or to correct a fiduciary breach under ERISA. Without limiting the Advisory Committee's authority under the prior sentence, the Plan Advisory Committee, as it determines to be reasonable and appropriate, may undertake correction of Plan document, operational, demographic and employer eligibility failures under a method described in the Plan or under the Employee Plans Compliance Resolution System CEPCRS") or any successor program to EPCRS. The Advisory Committee, as it determines to be reasonable and appropriate, also may undertake or assist the appropriate fiduciary or plan official in undertaking correction of a fiduciary breach, including correction under the Voluntary Fiduciary Correction Program ("VFC") or any successor program to VFC. The Advisory Committee to correct an operational error may require the Trustee to distribute from the Plan elective deferrals or vested matching contributions, including earnings, where such amounts result from an operational error other than a failure of Code (S)415, Code (S)402(g), a failure of the ADP or ACP tests, or a failure of the multiple use limitation.

PLAN CORRECTION. The Advisory Plan Administration Committee in conjunction with the Employer may undertake such correction of Plan errors as the Advisory Plan Administration Committee deems necessary, including correction to preserve tax qualification of the Plan under Code (S)401(aSection 401(a) or to correct a fiduciary breach under ERISAapplicable law. Without limiting the Advisory Plan Administration Committee's ’s authority under the prior sentence, the Plan Advisory Administration Committee, as it determines to be reasonable and appropriate, may undertake correction of Plan document, operational, demographic and employer Employer eligibility failures under a method described in the Plan or under the Employee Plans Compliance Resolution System CEPCRS"(“EPCRS”) or any successor program program(s) to EPCRS. The Advisory Plan Administration Committee, as it determines to be reasonable and appropriate, also may undertake or assist the appropriate fiduciary or plan official in undertaking correction of a fiduciary breach, including correction under the Voluntary Fiduciary Correction Program ("“VFC"”) or any successor program program(s) to VFC. The Advisory If the Plan includes a 401(k) arrangement, the Plan Administration Committee to correct an operational error error, may require the Trustee to distribute distributions from the Plan elective deferrals of Elective Deferrals or vested matching contributions, including earnings, where such amounts result from an operational error other than a failure of Code (S)415Section 415, Code (S)402(gSection 402(g), a failure of the ADP or ACP tests, or a failure of the multiple use limitation.