Master or Prototype Plan definition

Master or Prototype Plan means a plan the form of which is the subject of a favorable opinion letter from the Internal Revenue Service.

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Master or Prototype Plan. A plan the form of which is the subject of a favorable opinion letter from the Internal Revenue Service.

Master or Prototype Plan means a plan, the form of which is the subject of a favorable opinion letter from the Internal Revenue Service.

Examples of Master or Prototype Plan in a sentence

• If the Participant is covered under another qualified Defined Contribution Plan maintained by the Employer which is not a Master or Prototype Plan, Annual Additions which may be credited to the Participant’s account under this Plan for any Limitation Year will be limited in accordance with this paragraph as though the other plan were a Master or Prototype Plan unless the Employer specifies other limitations in the Adoption Agreement.

• The provisions of Article X of the Basic Plan Document #01 will apply as if the other plan were a Master or Prototype Plan.

• If the Participant is covered under another qualified Defined Contribution Plan maintained by the Employer which is not a Master or Prototype Plan, Annual Additions which may be credited to the Participant's account under this Plan for any Limitation Year will be limited in accordance with this paragraph as though the other plan were a Master or Prototype Plan unless the Employer specifies other limitations in the Adoption Agreement.

• If a Participant is covered under another qualified defined contribution plan which is not a Master or Prototype plan, the Annual Addition credited to the Participant's Account under this Plan for any Limitation Year will be limited in accordance with the provisions of Section 5.02 above as though the plan were a Master or Prototype Plan, unless the Employer provides other limitations pursuant to the Adoption Agreement.

• If the Participant is covered under another qualified Defined Contribution Plan maintained by the Employer, other than a Master or Prototype Plan [option (1) below shall automatically apply if the other plan is a Master or Prototype Plan]: [x] 1.

• If a Participant is covered under another qualified defined contribution plan which is not a Master or Prototype plan, the Annual Addition credited to the Participant's Account under this Plan for any Limitation Year will be limited in accordance with the provisions of Section 5.02 as though the plan were a Master or Prototype Plan, unless the Employer provides other limitations pursuant to the Adoption Agreement.

• If a Participant is covered under another qualified Defined Contribution Plan, other than the Plan which is not a Master or Prototype Plan, Annual Additions which may be credited to the Participant’s Account under the Plan for any Limitation Year shall be limited in accordance with the provisions of Sections 3.7.3(A) through (F) above as though each such other plan was a Master or Prototype Plan, unless the Employer provides other limitations in the other qualified Defined Contribution Plan.

• If the Participant is covered under another plan which is a qualified defined contribution plan which is not a Master or Prototype Plan maintained by the Employer, Annual Additions allocated under this Plan on behalf of any Participant shall be limited in accordance with the provisions of Section 6.2, as though the other plan were a Master or Prototype Plan, unless the Employer provides other limitations in the Adoption Agreement.

• If the Participant is covered under another qualified Defined Contribution Plan maintained by the Employer which is not a qualified Master or Prototype Plan, Annual Additions which may be credited to the Participant's account under this Plan for any Limitation Year will be limited in accordance with paragraphs 10.3 and 10.4 as though the other plan were a Master or Prototype Plan, unless the Employer provides other limitations in the Adoption Agreement.

• An Employer that amends the Plan for any other reason, including a waiver of the minimum funding requirement under Section 412(d) of the Code, will no longer participate in this Master or Prototype Plan and will be considered to have an individually designed Plan.

More Definitions of Master or Prototype Plan

Master or Prototype Plan means a plan sponsored by a trade or professional association, bank, insurance company or regulated investment company, the form of which is intended to qualify under Code § 401(a).

Master or Prototype Plan means a plan the form of which is the subject of a favorable opinion letter from the IRS.

Master or Prototype Plan means a plan the form of which is the subject of a favorable opinion or notification letter from the Internal Revenue Service.

Master or Prototype Plan means a plan the form of which is the subject of a favorable opinion letter from the Internal Revenue Service. (10) 'Maximum Permissible Amount' means for a Limitation Year with respect to any Participant the lesser of (A) $30,000 or, if greater, 25 percent of the dollar limitation set forth in Section 515(b)(1) of the Code, as in effect for the Limitation Year, or (B) 25 percent of the Participant's Compensation for the Limitation Year. If a short Limitation Year is created because of an amendment changing the Limitation Year to a different 12-consecutive-month period, the Maximum Permissible Amount will not exceed the limitation in (e)(10)(A) multiplied by a fraction whose numerator is the number of months in the short Limitation Year and whose denominator is 12. The Compensation limitation referred to in subsection (e)(10)(B) shall not apply to any contribution for medical benefits within the meaning of Section 401(h) or Section 419A(f)(2) of the Code after separation from service which is otherwise treated as an Annual Addition under Section 419A(d)(2) or Section 415(l)(1) of the Code. (11) 'Welfare Benefit Fund' means a welfare benefit fund as defined in Section 419(e) of the Code. ARTICLE 6

Master or Prototype Plan means a plan sponsored by a trade or professional association, bank, insurance company or regulated investment company, the form of which is intended to qualify under Code section 401(a).