Permissive Aggregation Group means the aggregate of the Required Aggregation Group and any other plan or plans of an Affiliated Company, if the group would continue to satisfy the requirements of Code Sections 401(a)(4) and 410 with such additional plan or plans being taken into account. Benefits under such plans shall be aggregated by adding together the present values of the accrued benefits (determined separately for each plan as of such plans Determination Date) and adding together the results for each plan as of the Determination Dates for such plans that fall within the same calendar year.
Permissive Aggregation Group – The required aggregation group of plans plus any other plan or plans of the employer that, when considered as a group with the required aggregation group, would continue to satisfy the requirements of Code sections 401(a)(4) and 410.
Permissive aggregation group. "Permissive aggregation group" means the "required aggregation group" of plans plus any other plan or plans of the Employer or any Affiliated Employer which, when considered as a group with the "required aggregation group," would continue to satisfy the requirements of Code §§401(a)(4) and 410.
Required Aggregation Group means a group of plans consisting of # each plan of the Affiliated Companies in which a Key Employee participates during the plan year containing the Determination Date for such plan and # any other plan of the Affiliated Companies that enables any of such plans to satisfy the requirements of Code Sections 401(a)(4) or 410. Benefits under such plans shall be aggregated by adding together the present values of the accrued benefits (determined separately for such plan as of each plans Determination Date) and adding together the results for each plan as of the Determination Dates for such plans that fall within the same calendar year. If an Aggregation Group includes two or more defined benefit plans, the same actuarial assumptions will be used with respect to all such plans in accordance with IRS Regulation 1.416-1, T-26.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.