Allocation of Employer Contributions and Forfeitures. (a) All money purchase contributions for a given Plan Year shall be allocated to the Account of the Participant for whom such contributions were made. Any forfeiture from a Participant’s money purchase contribution Subaccount arising under the Plan for a given Plan Year shall be applied as specified in the Adoption Agreement either: (i) to reduce the Employer Contribution in that year, or if in excess of the Employer Contribution for such Plan Year, the excess amounts shall be used to reduce the Employer Contribution in the next succeeding Plan Year or Years or (ii) to be added to the Employer contributions and allocated accordingly.
Allocation of Employer Contributions and Forfeitures. (Complete only if an integrated allocation formula is chosen.)
Allocation of Employer Contributions and Forfeitures. (a) Discretionary Contributions: Allocation in Proportion to Compensation. If the Employer elects to make Discretionary Contributions, all such Contributions shall be allocated to the Employer Discretionary Account of each Participant entitled to share in the allocation of such Contributions, as of each Valuation Date. Except to the extent otherwise elected by the Employer in the Adoption Agreement, only those Participants who have completed a Year of Service during the Plan Year and who are employed on the last day of the Plan Year shall share in the allocation of Discretionary Contributions for such Plan Year, and then only on the basis of their respective Compensation, unless otherwise elected by the Employer in the Adoption Agreement. The preceding sentence notwithstanding, a Participant who has Separated from Service, during the Plan Year for which a Discretionary Contribution is made, due to retirement, death or Disability, and who is otherwise eligible to receive an allocation of a Discretionary Contribution, shall receive an allocation of the Discretionary Contribution for such Plan Year.
Allocation of Employer Contributions and Forfeitures. Participants will be eligible to receive the allocation of the Employer's Matching and Discretionary Contributions only if such Participants have completed a Year of Service during such Plan Year and are actively employed on the last day of such Plan Year. Notwithstanding the foregoing, Participants who are not actively employed on the last day of the Plan Year due to Disability, Normal, or Postponed Retirement or death will be eligible to receive the Employer's Matching and Discretionary Contributions regardless of the number of Hours of Service completed during such Plan Year. Any Forfeitures of Employer Contributions which arise will be used first to pay all or a part of the expenses of the Plan, and then if any amount remains, to reduce Employer Contributions to the Plan for such Plan Year in which the Forfeiture occurred. Notwithstanding anything to the contrary, for Plan Years beginning after December 31, 1989, if this is a Plan that would otherwise fail to meet the requirements of Code sections 401(a)(26), 410(b)(1) or 410(b)(2)(A)(i) and the Regulations thereunder because Employer Contributions have not been allocated to a sufficient number or percentage of Participants for a Plan Year, then the following rules will apply:
Allocation of Employer Contributions and Forfeitures. (a) Discretionary Contributions: Allocation in Proportion to Compensation
Allocation of Employer Contributions and Forfeitures
