QMAC definition

QMAC means the qualified matching contribution made from time to time by an Employer to the Trustee in accordance with Section 4.06

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QMAC means a qualified matching contribution made to the Plan under Section 4.4(f).

QMAC is a Qualified Matching Contribution, described in Code §401(k)(3)(D)(ii)(I), or a safe harbor matching contribution described in Code §401(k)(12)(B). For purposes of this Amendment only, a QACA matching contribution described in Code §401(k)(13)(D)(i)(I) will also be treated as though it were a QMAC.

Examples of QMAC in a sentence

The Employer shall have the right to make a discretionary QMAC contribution.
The Employer may make a QNEC or QMAC for Non-Highly Compensated Employees to increase the ADP and/or ACP to the point where the Plan passes the ADP Test and/or the ACP Test.
In lieu of reducing the applicable average for the Highly Compensated Employees, the Employer may elect to make an additional Qualified Non-Elective Contribution (QNEC) and/or a Qualified Matching Contribution (QMAC) for Non-Highly Compensated Employees to increase their Average Deferral Percentage and/or Average Contribution Percentage to the point where the Plan satisfies the ADP and/or the ACP Test.
Subject to Section 3.06, allocate the Plan-Designated QMAC (Choose one of a.
If the Plan fails to satisfy the multiple use test, the Employer must either make correcting distributions to affected Highly Compensated Employees or make QNEC and/or QMAC contributions for Non-Highly Compensated Employees to the point where the Plan satisfies the multiple use test.
Only to NHCEs who make Elective Deferrals subject to the Plan-Designated QMAC.
To all Participants who make Elective Deferrals subject to the Plan-Designated QMAC.
Any QMAC allocated to correct the ADP or ACP Test which is not specifically authorized under this #18 will be allocated to all Eligible Participants who are Nonhighly Compensated Employees as a uniform percentage of Section 401(k) Deferrals made during the Plan Year.
The Contractor shall submit a summary to the Department annually that includes a listing of the Enrollees participating with the QMAC, recommendations received from attendees, and information about if and how the Contractor implemented the recommendations.
The Employer may make a Qualified Non-Elective Contribution (QNEC) or Qualified Matching Contribution (QMAC) for Non-Highly Compensated Employees (whether or not so designated in the Adoption Agreement) to increase the Average Deferral Percentage and/or Average Contribution Percentage to the point where the Plan passes the ADP Test and/or the ACP Test.

More Definitions of QMAC

QMAC means a Qualified Matching Contribution.

QMAC means a qualified matching contribution made to the Plan pursuant to Section 3.8(f).

QMAC. A Matching Contribution which the Administrator elects to use in satisfying the ADP tests of I.4.

QMAC means a qualified matching contribution that (i) is made to the Plan pursuant to Section 3.8, and (ii) complies with the definition of qualified matching contribution set forth in Treasury Regulation Section 1.401(k)-6.