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Failure to Timely Clean-Up
Failure to Timely Clean-Up contract clause examples

Catch-up contributions means elective deferrals made to the plan that are in excess of an otherwise applicable plan limit and that are made by participants who are age 50 or over by the end of their taxable years. An otherwise applicable plan limit is a limit in the plan that applies to elective deferrals without regard to catch-up contributions, such as any limitation set forth in Section 3.4, the limits on annual additions described in Section 5.1, the dollar limitation on elective deferrals under Code section 402(g) (not taking into account catch-up contributions) and the limit imposed by the actual deferral percentage (ADP) test under [Section 5.5(b)]. Catch-up contributions for a participant for a taxable year may not exceed:

Catch-Up Contributions – All employees who are eligible to make elective deferrals under this plan before the close of the plan year and who have attained age 50 or over by the end of their applicable taxable years shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, [Section 5.5(a)(2)]. The employer-imposed limitations on the maximum amount of permissible salary deferral shall not apply.

Catch-Up Contributions – All employees who are eligible to make elective deferrals under this plan before the close of the plan year and who have attained age 50 or over by the end of their applicable taxable years shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 5.5(a)(2). The employer-imposed limitations on the maximum amount of permissible salary deferral shall not apply.

Catch-Up Contributions. If selected in the Adoption Agreement, all Employees who are eligible to make Elective Deferrals under this Plan and who have attained age 50 before the close of the taxable year shall be eligible to make Catch -Up Contributions in accordance with, and subject to the dollar limitations of, Code §414(v)(2)(B)(i) for the taxable year. The limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code §414(v)(2)(C). Such Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code §§402( g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code §401(k)(3), 401(k)(11), 401(k)(12),

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