Safe Harbor Plan definition

Safe Harbor Plan means a qualified plan that, with respect to nondiscrimination testing, meets the requirements set forth in Code Section 401(k)(12) or 401(k)(13) and underlying Regulations and the requirements set forth in Code Section 401(m)(11) and underlying Regulations for safe harbor 401(k) plans.
Sample 1
Safe Harbor Plan means a qualified money purchase plan of the Leasing Organization which meets the requirements of Section 414(n)(5) of the Internal Revenue Code and the regulations promulgated thereunder, including (so long as is required thereby): (i) immediate participation, (ii) full and immediate vesting, and (iii) a non-integrated employer contribution rate of at least 10% of compensation as defined for purposes of Section 415(c)(3) of the Internal Revenue Code but including any amount that would have qualified as such compensation but for the fact that it constitutes salary reduction under any plan described in Section 125, 402(e)(3), 402(h)(1)(B), 403(b), 414(h)(2) or 457(b) of the Internal Revenue Code.
Sample 1
Safe Harbor Plan means a plan which satisfies the ADP Test Safe Harbor and to which the 401(k) safe harbor provisions of Section 3.08 apply as elected in Item O(8). 401(K) SIMPLE PLAN means a plan to which the 401(k) SIMPLE provisions of Section 3.09 apply as elected in Item O(9).
Sample 1

Examples of Safe Harbor Plan in a sentence

  • No Hours of Service or last day requirement may be imposed on any Employer contribution that is subject to the Safe Harbor Plan rules.

  • Except as otherwise permitted, an Employer must elect the Safe Harbor Plan provisions and must satisfy the notice requirements of paragraph 11.19 prior to the beginning of the Plan Year to which the Safe Harbor provisions will be applied.

  • If the Safe Harbor Plan provisions are elected, the nondiscrimination tests at Article XI of the Basic Plan Document #01 are not applicable.

  • Except as otherwise permitted, an Employer must elect the Safe Harbor Plan provisions and must satisfy the notice requirements of paragraph 11.16 prior to the beginning of the Plan Year to which the Safe Harbor provisions will be applied.

  • If all Leased Employees constitute less than 20% of the Employer's non-highly-compensated work force within the meaning of Code Section 414(n)(1)(C)(ii), then the preceding sentence will not apply to any Leased Employee if such Employee is covered by a money purchase pension plan ("Safe Harbor Plan") which provides: (1) a nonintegrated employer contribution rate of at least 10% of compensation, (2) immediate participation, and (3) full and immediate vesting.

  • At present no one drinks the groundwater from wells near the landfill.

  • The supplemental notice indicating the Employer’s intention to make the Safe Harbor Employer Contribution must beprovided no later than 30 days prior to the last day of the Plan Year for the Plan to qualify as a Safe Harbor Plan.

  • The Plan will not fail to be a Safe Harbor Plan merely because Highly Compensated Employees also receive a Safe Harbor Matching Contribution under the Plan.

  • If the ACP Test must be performed under a Safe Harbor Plan, either because there are After-Tax Contributions, or because the Matching Contributions do not satisfy the conditions described in subsection (f) above, the Current Year Testing Method must be used to perform such test, even if the Adoption Agreement specifies that the Prior Year Testing Method applies.

  • If the Employer does not provide the supplemental notice in accordance with this paragraph, the Employer is not obligated to make the Safe Harbor Employer Contribution and the Plan does not qualify as a Safe Harbor Plan.

Related to Safe Harbor Plan

  • Safe Harbor Election has the meaning set forth in Section 10.2(d).

  • Safe Harbor has the meaning set forth in Section 10.2(d).

  • Salary reduction plan means a benefit plan whereby state and

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Nonqualified deferred compensation plan means a compensation plan described in Section 3121(v)(2)(C) of the Internal Revenue Code.

  • Nonqualified Deferred Compensation Rules means the limitations or requirements of Section 409A of the Code, as amended from time to time, including the guidance and regulations promulgated thereunder and successor provisions, guidance and regulations thereto.

  • Qualified Plan means a Pension Plan that is intended to be tax-qualified under Section 401(a) of the IRC.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Plan 3 means the teachers' retirement system, plan 3

  • Plan A means the 1997 Incentive Stock Option Plan;

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Deferral Plan means the UGI Corporation 2009 Deferral Plan.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Deferred Compensation Plan means any plan, agreement or arrangement maintained by the Company from time to time that provides opportunities for deferral of compensation.

  • Deferred Plan means a trust governed by a registered retirement savings plan, registered retirement income fund, registered education savings plan or tax-free savings account.

  • Incentive-Based Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • EHC plan means an Education, Health and Care plan made under sections 37(2) of the Children and Families Act 2014.

  • Safe Harbor Amount means 2.99 times the Executive’s “base amount,” within the meaning of Section 280G(b)(3) of the Code.

  • Elective Contribution means the Employer's contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess "annual additions" pursuant to Section 4.10(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.6 shall be considered an Elective Contribution for purposes of the Plan. Any such contributions deemed to be Elective Contributions shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the discrimination requirements of Regulation 1.401(k)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Deferred Compensation Award means an award of Stock Units granted to a Participant pursuant to Section 12 of the Plan.

  • Top Heavy Plan means a plan described in Section 9.2(a).

  • Eligible employer means any municipality with a municipal

  • Nonelective Contribution means an amount contributed by a participating

  • Super Top Heavy Plan means a plan described in Section 2.2(b).