Common use of Top-Heavy Ratio Clause in Contracts

Top-Heavy Ratio. (1) If the Employer maintains one or more Defined Contribution Plans (including any Simplified Employee Pension Plan) and the Employer has not maintained any Defined Benefit Plan which during the one (1) year period [five (5) year period in determining whether the Plan is Top-Heavy for Plan Years beginning before January 1, 2002] ending on the Determination Date(s) has or has had accrued benefits, the Top-Heavy Ratio for this Plan alone or for the Required or Permissive Aggregation Group as appropriate is a fraction, the numerator of which is the sum of the account balances of all Key Employees as of the Determination Date(s) [including any part of any account balance distributed in the one (1) year period ending on the Determination Date(s) or five (5) year period ending on the Determination Date in the case of a distribution made for a reason other than severance from employment, death or Disability and in determining whether the Plan is Top-Heavy for Plan Years beginning before January 1, 2002], and the denominator of which is the sum of all account balances [including any part of any account balance distributed in the one (1) year period ending on the Determination Date(s) or five (5) year period ending on the Determination Date in the case of a distribution made for a reason other than severance from employment, death or Disability and in determining whether the Plan is Top-Heavy for Plan Years beginning before January 1, 2002], both computed in accordance with Code Section 416 and the Regulations thereunder. Both the numerator and denominator of the Top-Heavy Ratio are increased to reflect any contribution not actually made as of the Determination Date, but which is required to be taken into account on that date under Code Section 416 and the Regulations thereunder.

Top-Heavy Ratio. (1) . If the Employer maintains one or more Defined Contribution Plans defined contribution plans (including any Simplified Employee Pension Plansimplified employee pension plan) and the Employer has not maintained any Defined Benefit Plan defined benefit plan which during the one (1) five-year period [five (5) year period in determining whether the Plan is Top-Heavy for Plan Years beginning before January 1, 2002] ending on the Determination Date(s) has or has had accrued benefits, the Toptop-Heavy Ratio heavy ratio for this Plan alone or for the Required or Permissive Aggregation Group as appropriate is a fraction, the numerator of which is the sum of the account balances of all Key Employees as of the Determination Date(s) [(including any part of any account balance distributed in the one (1) one-year period ending on the Determination Date(s) or five (5) five-year period ending on the Determination Date in the case of a distribution made for a reason other than severance Severance from employmentEmployment, death death, or Disability and in determining whether the Plan is Toptop-Heavy heavy for Plan Years beginning before January 1, 2002], )) and the denominator of which is the sum of all account balances [(including any part of any account balance distributed in the one (1) one-year period ending on the Determination Date(s) or five ), (5) five-year period ending on the Determination Date in the case of a distribution made for a reason other than severance Severance from employmentEmployment, death death, or Disability and in determining whether the Plan is Toptop-Heavy heavy for Plan Years beginning before January 1, 2002], )) both computed in accordance with Code Section 416 and the Regulations regulations thereunder. Both the numerator and the denominator of the Toptop-Heavy Ratio heavy ratio are increased to reflect any contribution not actually made as of the Determination Date, but which is required to be taken into account on that date under Code Section 416 and the Regulations regulations thereunder.