Applicable Determination definition
Examples of Applicable Determination in a sentence
The account balance of any individual who has not performed services for the Company or the Controlled Group members at any time during the one-year period ending on the Applicable Determination Date shall not be taken into account.
Except as provided in Subsection (a)(2)(B) below, if as of the Applicable Determination Date the aggregate of the Account balances of Key Employees under the Plan exceeds 60 percent of the aggregate amount of the Account balances of all Employees (other than former Key Employees) under the Plan, the Plan will be top-heavy, and the provisions of this Section 7.2 shall become applicable.
Concurrently with the delivery of any financial statements delivered pursuant to Section 7.01(b) or 7.01(d), re-designate any Subsidiary that was formerly an Immaterial Subsidiary as no longer being an Immaterial Subsidiary for purposes of maintaining compliance with the first proviso in the definition of “Immaterial Subsidiary”, which designation shall be retroactive to the Applicable Determination Date for all purposes hereunder except in respect of Section 7.11.
Account balances and accrued benefits shall be adjusted for any distribution made in the five-year period (or one-year period for distributions made on account of separation from service, death, or Disability) ending on the Applicable Determination Date and any contribution due but unpaid as of the Applicable Determination Date.