Current year testing definition

Current year testing means for purposes of the ADP test described in Section 14.08 and the ACP test described in Section 14.09, the use of data from the testing year in determining the ADP or ADP for the Nonhighly Compensated Group.
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Current year testing. The current year ratio shall be used for the Plan Year beginning in the year specified below:
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Current year testing means the ADP test set forth in Subsection 4.9(b) and the ACP test set forth in Subsection 4.11(b).
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Examples of Current year testing in a sentence

  • This rule ap- plies even if the employee does not re- ceive service credit under the benefit formula for that year (e.g., because of a service cap in the benefit formula or because of a transfer out of the group of employees covered by the plan).(2) Current year testing service.

  • Overall Rating: 3 Comments:Having a strong and effective staff has always been one of strengths.

  • Current year testing method means the testing method described in § 1.401(k)–2(a)(2)(ii) or 1.401(m)–2(a)(2)(ii) under which the applicable year is the current plan year.

  • Current year testing method means the testing method under which the applicable year is the current plan year, as de- scribed in § 1.401(k)–2(a)(2)(ii) or1.401(m)–2(a)(2)(ii)Designated Roth contributions.

  • Current year testing method means the testing method described in § 1.401(k)– 2(a)(2)(ii) or § 1.401(m)–2(a)(2)(ii) under which the applicable year is the current plan year.Elective contributions.

  • Current year testing method means the testingmethod described in §1.401(k)–2(a)(2)(ii) or §1.401(m)–2(a)(2)(ii) under which the applicable year is the current plan year.Elective contributions.

  • Current year testing method means the testing method described in § 1.401(k)–2(a)(2)(ii) or 1.401(m)–2(a)(2)(ii) under which the applicable year is the current plan year.26 CFR Ch. I (4–1–13 Edition)Designated Roth account.

  • Current year testing method means the testing method described in §1.401(k)-2(a)(2)(ii) or §1.401(m)-2(a)(2)(ii) under which the applicable year is the current plan year.

  • Current year testing method means the testing method under which the applicable year is the current plan year, as de- scribed in § 1.401(k)–2(a)(2)(ii) or1.401(m)–2(a)(2)(ii)26 CFR Ch. I (4–1–11 Edition)Designated Roth contributions.

  • However, the provisions of this paragraph may not be used if the Plan is a successor plan or is otherwise prohibited from using such provisions pursuant to Regulations Section 1.401(m)-2(c)(2).(b) Current year testing method.


More Definitions of Current year testing

Current year testing. The current year ratio will be used for the Plan Year beginning in _____. NOTE: In any Plan Year where the ADP Test Safe Harbor is being used but not the ACP Test Safe Harbor, then c. above must be used if an ACP test applies for such Plan Year. TOP HEAVY REQUIREMENTS
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Current year testing means for purposes of the ADP test described in Section 19(h) and the ACP test described in Section 19(i), the use of data from the testing year in determining the ADP or ADP for the Nonhighly Compensated Group.
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Current year testing. If no election is made by the Employer in the Adoption Agreement, the ADP limits in (1) and (2), above, will be applied by comparing the current Plan Year's ADP for Participants who are Highly Compensated Employees with the current Plan Year's ADP for Participants who are Non-Highly Compensated Employees. This election can only be changed if the Plan meets the requirements for changing to Prior Plan Year testing set forth in IRS Notice 98-1 (or superseding guidance).
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Related to Current year testing

  • Current year means the financial year, which has already commenced, but not yet ended;

  • Start-Up Testing means the completion of applicable required factory and start-up tests as set forth in Exhibit C.

  • Relevant Year t means the Financial Year for the purposes of which any calculation falls to be made; "Relevant Year t-1" means the Financial Year preceding Relevant Year t, and similar expressions shall be construed accordingly;

  • Prior Year means the year commencing 1 April immediately prior to the relevant Charging Year;

  • Testing Period means a single period consisting of the four consecutive fiscal quarters of the Borrower then last ended (whether or not such quarters are all within the same fiscal year), except that if a particular provision of this Agreement indicates that a Testing Period shall be of a different specified duration, such Testing Period shall consist of the particular fiscal quarter or quarters then last ended that are so indicated in such provision.

  • Covenant Testing Period means a period (a) commencing on the last day of the fiscal quarter of Borrower most recently ended prior to a Covenant Trigger Event for which Borrower is required to deliver to Administrative Agent quarterly or annual financial statements pursuant to Section 5.2 of this Agreement, and (b) continuing through and including the first day after such Covenant Trigger Event that Availability has equaled or exceeded the greater of (i) 10% of the Borrowing Limit, and (ii) $15,000,000 for 60 consecutive calendar days.

  • Penetration Testing means security testing in which assessors mimic real-world attacks to identify methods for circumventing the security features of an application, system, or network. (NIST SP 800-115)

  • Payment Year means the calendar year during which the applicable Initial Year Payments or Annual Payments are due pursuant to subsection V.B. Payment Year 1 is 2022, Payment Year 2 is 2023 and so forth. References to payment “for a Payment Year” mean the Initial Year Payments or Annual Payment due during that year. References to eligibility “for a Payment Year” mean eligibility in connection with the Initial Year Payments or Annual Payment due during that year.

  • Adjustment Year has the meaning ascribed to said phrase under Section 6225(d)(2) of the Code.

  • relevant year means a year commencing at 00:00 hours on 1 April and ending at 23:59 hours on the following 31 March;

  • Service Year means fiscal year, except that:

  • Budget year means the financial year of the municipality for which an annual budget is to be approved in terms of section 16(1) of the MFMA;

  • Calendar Year means each successive period of twelve (12) months commencing on January 1 and ending on December 31.

  • Testing service means a national testing service selected by the board.

  • ADP means Automatic Data Processing.

  • ACP means the "Actual Contribution Percentage" determined pursuant to Section 12.6(d).

  • transition year means the financial year of an issuer or business in which the issuer or business changes its financial year-end;