Examples of Profit Sharing Plan in a sentence
Respondents are subject to disciplinary action under Code section 5100(c) in that 28 Respondents committed repeated acts of negligence on more than one occasion in performing the Accusation audit of the Pacific Alliance Medical Center Safe Harbor 401(k) Profit Sharing Plan for the year N ended December 31, 2007 that departed from professional standards for the reasons set forth in paragraphs 46 and 47.
Notwithstanding the foregoing, for purposes of determining a Participant’s nonforfeitable portion of his ESOP Accounts, including his Stock Forfeiture Account and Cash Forfeiture Account, if any, he will be credited with the number of Years of Service, if any, accrued prior to the Effective Date under the Profit Sharing Plan.
Respondents failed to exercise due professional care, in violation of AU 150.02 and 22 AU 230.02, in that, as reflected in Respondents' performance and reporting failures for the audit of 23 the Pacific Alliance Medical Center Safe Harbor 401(k) Profit Sharing Plan for the year ended 24 December 31, 2007, Respondents failed to exercise due professional care.
In each Plan Year that amounts are transferred to the ESOP from the Profit Sharing Plan, such amounts will be allocated to the Profit Sharing Account of each ESOP Participant from whose accounts in the Profit Sharing Plan amounts are transferred, in the exact amount transferred from such Participant’s Profit Sharing Plan accounts.
RETIREMENT PLANSThe Company sponsors a group Registered Retirement Savings Plan (“RRSP”) and a group Deferred Profit Sharing Plan (“DPSP”) for all of its Canadian salaried employees.