Common use of True-up contributions Clause in Contracts

True-up contributions. Under Period of determination above, if j. - m. is selected, does the Employer have the discretion to apply the Employer matching contribution on a Plan Year basis (i.e., to true-up the contribution)? (leave blank if not applicable). z. [ ] Yes (may not be elected if the "ACP test safe harbor" provisions are being used because of impermissible discretion; also may not be selected if this is a Money Purchase Pension Plan).

Appears in 1 contract

Sources: Adoption Agreement

True-up contributions. Under Period of determination above, if j. - m. is selected, does the Employer have the discretion to apply the Employer matching contribution on a Plan Year basis (i.e., to true-up the contribution)? (leave blank if not applicable). . z. [ ] Yes (may not be elected if the "ACP test safe harbor" provisions are being used because of impermissible discretion; also may not be selected if this is a Money Purchase Pension Plan).

Appears in 1 contract

Sources: Adoption Agreement for Employee Stock Ownership Plan (Esop)