Standard Formula Sample Clauses
Standard Formula. Each Plan Sponsor electing the Standard Formula will compute and make Qualified Matching Contributions for each Match Period on behalf of each of its Participants on whose behalf Before-Tax Contributions and/or ▇▇▇▇ Contributions were made during such period, in an amount equal to 100% of the portion of the Before-Tax Contributions and/or ▇▇▇▇ Contributions made on behalf of such Participant that does not exceed three percent of the Participant’s Compensation for such Match Period, plus 50% of the portion of the Before-Tax Contributions and/or ▇▇▇▇ Contributions made by such Participant that exceeds such percentage but does not exceed five percent of the Participant’s Compensation for such Match Period.
Standard Formula. Each Plan Sponsor electing the Standard Formula will compute and make Qualified Non-Elective Contributions on behalf of each of its Participants who qualify under Sections 4.1 and 4.2 in the amount of three percent of such Participant’s Compensation for each payroll period, regardless of whether or not such Participants make Before-Tax Contributions and/or ▇▇▇▇ Contributions.