Top-Heavy Plan. For any Plan Year, this Plan is a Top-Heavy Plan if any of the following conditions exist: (1) The Plan is not part of any Required Aggregation Group or Permissive Aggregation Group of plans, and the Top-Heavy Ratio for the Plan exceeds 60 percent. (2) The Plan is part of a Required Aggregation Group of plans, but not part of a Permissive Aggregation Group, and the Top-Heavy Ratio for the Required Aggregation Group of plans exceeds 60 percent. (3) The Plan is part of a Required Aggregation Group and part of a Permissive Aggregation Group of plans, and the Top-Heavy Ratio for the Permissive Aggregation Group exceeds 60 percent.
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Sources: Defined Contribution Plan and Trust (National Penn Bancshares Inc), Defined Contribution Prototype Plan and Trust Agreement (Mercantile Bancorp, Inc.)
Top-Heavy Plan. For any Plan Year, this This Plan is a Top-Heavy Plan if any of the following -------------- conditions exist:
(1i) The If the Top-Heavy Ratio for this Plan exceeds 60% and this Plan is not part of any Required Aggregation Group or Permissive Aggregation Group of plans, and the Top-Heavy Ratio for the Plan exceeds 60 percent.
(2ii) The If this Plan is a part of a Required Aggregation Group of plans, plans but not part of a Permissive Aggregation Group, Group and the Top-Heavy Ratio for the Required Aggregation Group of plans exceeds 60 percent60%.
(3iii) The If this Plan is a part of a Required Aggregation Group and part of a Permissive Aggregation Group of plans, plans and the Top-Heavy Ratio for the Permissive Aggregation Group exceeds 60 percent60%.
Appears in 1 contract
Sources: 401(k) Plan Adoption Agreement (Chandler Insurance Co LTD)
Top-Heavy Plan. For any Plan Year, this This Plan is a Top-Heavy Plan if any of the following conditions existexists:
(1) The If the Top-Heavy Ratio for this Plan exceeds 60% and this Plan is not part of any Required Aggregation Group or Permissive Aggregation Group of plans, .
(2) If this Plan is a part of a Required Aggregation Group of plans (but not part of a Permissive Aggregation Group) and the Top-Heavy Ratio for the Plan exceeds 60 percent.
(2) The Plan is part of a Required Aggregation Group of plans, but not part of a Permissive Aggregation Group, and the Top-Heavy Ratio for the Required Aggregation Group of plans Plans exceeds 60 percent60%.
(3) The If this Plan is a part of a Required Aggregation Group and part of a Permissive Aggregation Group of plans, Plans and the Top-Heavy Ratio for the Permissive Aggregation Group exceeds 60 percent60%.
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