Uniformity Requirement Clause Samples
The Uniformity Requirement clause mandates that certain actions, standards, or procedures must be applied consistently across all relevant parties or situations within the scope of the agreement. In practice, this means that all participants are held to the same criteria, such as using identical materials, following the same processes, or adhering to uniform reporting formats. This clause ensures fairness and predictability by eliminating discrepancies and potential confusion, thereby streamlining operations and reducing the risk of disputes arising from inconsistent practices.
Uniformity Requirement. (a) Except as provided in Section 17.03(b) below or if the Employer has elected an increasing Default Percentage in the Adoption Agreement, the same percentage of compensation will be withheld as Default Elective Deferrals from all Covered Employees subject to the Default Percentage.
(b) Default Elective Deferrals will be reduced or stopped to meet the limitations under Code §§ 401(a)(17), 402(g), and 415 and to satisfy any suspension period required after a distribution.
Uniformity Requirement. (1) Except as provided in (2), below, if the Employer has elected to have Covered Employees’ Default Elective Deferrals increase each Plan Year by a designated percentage, the same percentage of compensation will be withheld as a Default Elective Deferral from all Covered Employees subject to the Default Rate.
(2) Default Elective Deferrals will be reduced or stopped to meet the limitations under Section 457(b) of the Code, and to satisfy any suspension period required after a hardship distribution from another plan maintained by the Employer.
Uniformity Requirement. If an Eligible Employee does not make an affirmative deferral election, such Employee will be treated as having elected to make Salary Deferrals in an amount equal to a uniform percentage of Plan Compensation as set forth in AA §6A-6. For this purpose, an automatic deferral election will not fail to be a uniform percentage of Plan Compensation merely because:
(A) The deferral percentage varies based on the number of years an Eligible Employee has participated in the Plan (e.g., due to the application of an automatic increase provisions);
(B) The automatic deferral election does not reduce a Salary Deferral election in effect immediately prior to the effective date of the automatic deferral election; or
(C) The rate of Salary Deferrals is limited so as not to exceed the limits of Code
Uniformity Requirement. If a newly eligible Participant does not make an affirmative deferral election, such Participant will be treated as having elected to make Salary Deferrals in an amount equal to a uniform percentage of Plan Compensation as set forth in AA §6A-7. For this purpose, an automatic deferral election will not fail to be a uniform percentage of Plan Compensation merely because:
(A) The deferral percentage varies based on the number of years of participation in the Plan (e.g., due to the application of an automatic increase provisions);
(B) The automatic deferral election does not reduce a Salary Reduction Agreement election in effect immediately prior to the effective date of the automatic deferral election; or
(C) The rate of Salary Deferrals is limited so as not to exceed the limits of Code §457(b).