Universal availability Sample Clauses
The Universal Availability clause ensures that certain benefits, rights, or services are made accessible to all eligible individuals within a specified group, without discrimination or exclusion. In practice, this means that if an employer offers a particular benefit, such as a retirement plan or insurance coverage, it must be offered to all employees who meet the eligibility criteria, rather than being restricted to select individuals or groups. This clause serves to promote fairness and compliance with legal requirements by preventing arbitrary or preferential treatment, thereby ensuring equal opportunity and reducing the risk of disputes over access to benefits.
Universal availability. If the Employer permits Catch-Up Deferrals to its Plan, the right of all Catch-Up Eligible Participants to make Catch-Up Deferrals must satisfy the universal availability requirement of Treas. Reg. §1.414(v)-1(e). If the Employer maintains more than one applicable plan within the meaning of Treas. Reg. §1.414(v)-1(g)(1), and any of the applicable plans permit Catch-Up Deferrals, then any Catch-up Eligible Participant in any such plans must be permitted to have the same effective opportunity to make the same dollar amount of Catch-Up Deferrals. Any Plan-imposed limit on total Elective Deferrals including Catch-Up Deferrals may not be less than 75% of a Participant's gross Compensation.
Universal availability. If the Employer permits Age 50 Catch-Up Deferrals to its Plan, the right of all Catch-Up Eligible Participants to make Age 50 Catch-Up Deferrals must satisfy the universal availability requirement of Treas. Reg. §1.414(v)-1(e). If the Employer maintains more than one applicable plan within the meaning of Treas. Reg.