Includible definition

Includible. Employees are all Employees other than:

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Includible. Employees are all Employees other than: (1) those Employees excluded from participating in the plan for the entire Plan Year by reason of the collective bargaining unit exclusion or the nonresident alien exclusion described in the Code or by reason of the age and service requirements of Article III; and

Includible. Employees are all Employees other than: (1) those Employees excluded from participating in the Plan for the entire Plan Year by reason of the collective bargaining unit or the nonresident alien exclusions under Code §410(b)(3) or by reason of the age and service requirements of Article II; and (2) those Employees who incur a Separation from Service during the Plan Year and for the Plan Year fail to complete more than 500 Hours of Service or at least 91 consecutive calendar days under the Elapsed Time Method. For purposes of coverage, an Employee is benefiting under the Plan on a particular date if, under Section 3.04 of the Plan, he/she is entitled to an Employer contribution or to a Participant forfeiture allocation for the Plan Year. If this Section 3.06(E) applies for a Plan Year, the Plan Administrator will suspend the allocation conditions for the Nonhighly Compensated Includible Employees who are Participants, beginning first with the Includible Employee(s) employed by the Employer on the last day of the Plan Year, then the Includible Employee(s) who have the latest Separation from Service during the Plan Year, and continuing to suspend the allocation conditions for each Includible Employee who incurred an earlier Separation from Service, from the latest to the earliest Separation from Service date, until the Plan satisfies coverage for the Plan Year. If two or more Includible Employees have a Separation from Service on the same day, the Plan Administrator will suspend the allocation conditions for all such Includible Employees, irrespective of whether the Plan can satisfy coverage by accruing benefits for fewer than all such Includible Employees. If the Plan for any Plan Year suspends the allocation conditions for an Includible Employee, that Employee will share in the allocation for that Plan Year of the Employer contribution and Participant forfeitures, if any, without regard to whether he/she has satisfied the allocation conditions of this Section 3.06. If the Plan includes Employer matching contributions subject to ACP testing, this Section 3.06(E) applies separately to the Code §401(m) portion of the Plan.

Examples of Includible in a sentence

• The following information pertains to all of my other employers for the current calendar year: Includible Earnings $ ; Elective Deferrals and/or salary reduction contributions to a ▇▇▇▇ 403(b) or ▇▇▇▇ 401(k) plan $ ; Non-elective Contributions $ .

• A Plan satisfies the Participation Test if, on each day of the Plan Year, the number of Employees who benefit under the Plan is at least equal to the lesser of 50 or 40% of the total number of Includible Employees as of such day.

• A Plan satisfies the Coverage Test if, on the last day of each quarter of the Plan Year, the number of Nonhighly Compensated Employees who benefit under the Plan is at least equal to 70% of the total number of Includible Nonhighly Compensated Employees as of such day.

• Participation in other employer plans: (you must check only one) Includible Earnings $ ; Elective Deferrals and/or salary reduction contributions to a ▇▇▇▇ 403(b) or ▇▇▇▇ 401(k) plan $ ; Non-elective Contributions $ .

• The Employer will contribute % of each Participant's Includible Compensation each Plan Year commencing with the Plan Year in which the Participant has Separated from Service and then for the next calendar years (not to exceed 5 calendar years) following the Plan Year in which the Participant Separated from Service.

• The Employer will contribute % of each Participant’s Includible Compensation each Plan Year commencing with the Plan Year in which the Participant has Separated from Service and then for the next calendar years (not to exceed 5 calendar years) following the Plan Year in which the Participant Separated from Service.

• The Employer under this Election 24(g) applies the rules of Section 3.05(D) to limit the allocation of any Safe Harbor Contribution under Election 24 for a Plan Year to those Participants who the Plan Administrator in applying the Otherwise Excludible Employee rule described in Section 4.06(C), treats as benefiting in the disaggregated plan covering the Includible Employees.

• Parent and the Subsidiaries agree to cause any corporation that in the future will qualify as an Includible Corporation of Parent, to become a party hereto as an additional Subsidiary hereunder.

• If two or more Includible Employees have a Separation from Service on the same day, the Advisory Committee will suspend the accrual requirements for all such Includible Employees, irrespective of whether the Plan can satisfy the Participation Test and the Coverage Test by accruing benefits for fewer than all such Includible Employees.

• In addition, each Participant who does not have an Enrollment Agreement in effect on the effective date of this election, or any amendment thereto, and subsequently files an Enrollment Agreement for pre-tax deferrals of at least % of Includible Compensation.

More Definitions of Includible

Includible. Employees are all Employees other than: 1) those Employees excluded from participating in the Plan for the entire Plan Year by reason of the collective bargaining union exclusion or the non-resident alien exclusion defined in the Code or by reason of the age and service requirements of Article II of the Adoption Agreement; and 2) any Employee who incurs a severance from employment during the Plan Year and fails to complete at least 501 Hours of Service during such Plan Year. For the purpose of this subsection, an Employee is “benefiting” under the Plan on a particular date if, under the Plan, the Employee is entitled to an Employer Contribution or an allocation of Forfeitures for the Plan Year. If two or more “includible” Employees described above have the same severance from employment date, then the Employer will suspend the allocation conditions for all such “includible” Employees irrespective of whether the Plan can satisfy the ratio percentage test by accruing benefits for all such “includible” Employees.

Includible. Employees are all Employees other than: (1) those Employees excluded from participating in the Plan for the entire Plan Year by reason of the collective bargaining unit exclusion or the nonresident alien exclusion under Adoption Agreement Section 1.07 or by reason of the participation requirements of Sections 2.01 and 2.03; and (2) any Employee who incurs a Separation from Service during the Plan Year and fails to complete at least 501 Hours of Service for the Plan Year. A "Nonhighly Compensated Employee" is an Employee who is not a Highly Compensated Employee and who is not a family member aggregated with a Highly Compensated Employee pursuant to Section 1.09 of the Plan. For purposes of the Participation Test and the Coverage Test, an Employee is benefiting under the Plan on a particular date if, under Adoption Agreement Section 3.04, he is entitled to an allocation for the Plan Year. Under the Participation Test, when determining whether an Employee is entitled to an allocation under Adoption Agreement Section 3.04, the Advisory Committee will disregard any allocation required solely by reason of the top heavy minimum allocation, unless the top heavy minimum allocation is the only allocation made under the Plan for the Plan Year.

Includible. Employees are all Employees other than (1) those Employees excluded from participating in the Plan for the entire Plan Year by reason of the collective bargaining unit exclusion or the nonresident alien exclusion under Adoption Agreement Section 1.19 or by reason of the participation requirements of Sections 2.01 and 2.03; and (2) any Employee who incurs a Separation from Service during the Plan Year and fails to complete at least 501 Hours of Service for the Plan Year. If two or more Includible Employees have a Separation from Service on the same day, the Plan Administrator will suspend the contribution requirements for all such Includible Employees, irrespective of whether the Plan can satisfy the participation and the coverage tests by accruing benefits for fewer than all such Includible Employees. If the Plan suspends the contribution requirements for an Includible Employee, that Employee will share in the allocation of Employer Contributions and Participant forfeitures, if applicable, without regard to the number of Hours of Service he has earned for the Plan Year and without regard to whether he is employed by the Employer on the last day of the Plan Year. The Employer may modify the operation of this Section 4.06(d) by electing appropriate modifications in Section 4.06 of its Adoption Agreement.

Includible. Employees are all Employees other than; (1) those Employees excluded from participating in the Plan for the entire Plan Year by reason of the collective bargaining unit or the nonresident alien exclusions under Code §410(b)(3) or by reason of the age and service requirements of Article II; and (2) those Employees who incur a Separation from Service during the Plan Year and for the Plan Year fail to complete more than 500 Hours of Service or at least 91 consecutive calendar days under the Elapsed Time Method. For purposes of coverage, an Employee is benefiting under the Plan on a particular date if, under Section 3.04 of the Plan, he/she is entitled to an Employer contribution or to a Participant forfeiture allocation for the Plan Year.