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.
Appears in 3 contracts
Sources: Defined Contribution Pre Approved Plan (J&j Snack Foods Corp), 401(k) Profit Sharing Plan (Nci Building Systems Inc), Defined Contribution Prototype and Volume Submitter Plan (Finisar Corp)
Universal availability. If the Employer permits Catch-Up Catch‑Up Deferrals to its Plan, the right of all Catch-Up Catch‑Up Eligible Participants to make Catch-Up Catch‑Up Deferrals must satisfy the universal availability requirement of Treas. Reg. §1.414(v)-1(e1.414(v)‑1(e). If the Employer maintains more than one applicable plan within the meaning of Treas. Reg. §1.414(v)-1(g)(11.414(v)‑1(g)(1), and any of the applicable plans permit Catch-Up Catch‑Up Deferrals, then any Catch-up 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 Catch‑Up Deferrals. Any Plan-imposed Plan‑imposed limit on total Elective Deferrals including Catch-Up Catch‑Up Deferrals may not be less than 75% of a Participant's gross Compensation.
Appears in 1 contract
Sources: Defined Contribution Prototype Plan and Trust Agreement (Bob Evans Farms Inc)
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(e1.414(v) -1(e). If the Employer maintains more than one applicable plan within the meaning of Treas. Reg. §1.414(v)-1(g)(11.414(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 ’s gross Compensation.
Appears in 1 contract