Example ContractsClausesfloor load heavy equipmentVariants
Remove:

If the employer maintains one or more defined contribution plans (including any Simplified Employee Pension Plan) and the employer has not maintained any defined benefit plan that during the five-year period ending on the determination date(s) has or has had accrued benefits, the top-heavy ratio for this plan alone or for the required or permissive aggregation group as appropriate is a fraction, the numerator of which is the sum of the account balances of all key employees as of the determination date(s) including any part of any account balance distributed in the one-year period ending on the determination date(s) (five-year period ending on the determination date in the case of a distribution made for a reason other than severance from employment, death or disability and in determining whether the plan is top-heavy for plan years beginning before ), and the denominator of which is the sum of all account balances including any part of any account balance distributed in the one-year period ending on the determination date(s) (five-year period ending on the determination date in the case of a distribution made for a reason other than severance from employment, death or disability and in determining whether the plan is top-heavy for plan years beginning before ), both computed in accordance with Code section 416 and the regulations thereunder. Both the numerator and denominator of the top-heavy ratio are increased to reflect any contribution not actually made as of the determination date, but which is required to be taken into account on that date under Code section 416 and the regulations thereunder.

If the employerEmployer maintains one or more defined contribution plans (including any Simplified Employee Pension Plan)simplified employee pension plan (as defined in Code §408(k))) and the employerEmployer has not maintained any defined benefit plan thatwhich during the five-year5 -year period ending on the determination date(s)"determination date" has or has had accrued benefits, the top-heavy ratio for this planPlan alone or for the required"required aggregation group" or permissive"permissive aggregation groupgroup" as appropriate is a fraction, the numerator of which is the sum of the account balances of all key employeesKey Employees as of the determination date(s) including"determination date" (including any part of any accountAccou nt balance distributed in the one-1-year period ending on the determination date(s) (five-"determination date") (5-year period ending on the determination date"determination date" in the case of a distribution made for a reason other than severance from employment, death or disabilityTotal and in determining whether the plan is top-heavy for plan years beginning before January 1, 2002)Permanent Disability) , and the denominator of which is the sum of all accountAccount balances including(including any part of any accountAccount balance distributed in the one-1 -year period ending on the "determination date") (5-year period ending on the determination date(s) (five-year period ending on the determination date"determination date" in the case of a distribution made for a reason other than severance from employment, death or disabilityTotal and in determining whether the plan is top-heavy for plan years beginning before January 1, 2002)Permanent Disability), both computed in accordance with Code section 416§416 and the regulationsRegulations thereunder. Both the numerator and denominator of the top-heavy ratio are increased to reflect any contribution not actually made as of the determination date, but which is required to be taken into account on that date under Code section 416 and the regulations thereunder.

If the employer maintains one or more defined contribution plans (including any Simplified Employee Pension Plan) and the employer maintains or has not maintained anyone or more defined benefit planplans that during the five-year period ending on the determination date(s) has or has had any accrued benefits, the top-heavy ratio for this plan alone or for theany required or permissive aggregation group as appropriate is a fraction, the numerator of which is the sum of the account balances under the aggregated defined contribution plan or plans for all key employees, determined in accordance with # above, and the present value of accrued benefits under the aggregated defined benefit plan or plans for all key employees as of the determination date(s) including, and the denominator of which is the sum of the account balances under the aggregated defined contribution plan or plans for all participants, determined in accordance with # above, and the present value of accrued benefits under the defined benefit plan or plans for all participants as of the determination date(s), all determined in accordance with Code section 416 and the regulations thereunder. The accrued benefits under a defined benefit plan in both the numerator and denominator of the top-heavy ratio are increased for any partdistribution of any account balance distributedan accrued benefit made in the one-year period ending on the determination date(s)date (five-year period ending on the determination date in the case of a distribution made for a reason other than severance from employment, death or disability and in determining whether the plan is top-heavy for plan years beginning before January 1, 2002), and the denominator of which is the sum of all account balances including any part of any account balance distributed in the one-year period ending on the determination date(s) (five-year period ending on the determination date in the case of a distribution made for a reason other than severance from employment, death or disability and in determining whether the plan is top-heavy for plan years beginning before January 1, 2002), both computed in accordance with Code section 416 and the regulations thereunder. Both the numerator and denominator of the top-heavy ratio are increased to reflect any contribution not actually made as of the determination date, but which is required to be taken into account on that date under Code section 416 and the regulations thereunder..

If the employerEmployer maintains one or more defined contribution plans (including any Simplified Employee Pension Plan)simplified employee pension plan) and the employerEmployer maintains or has not maintained anyone or more defined benefit plan thatplans which during the five-5-year period ending on the determination date(s)"determination date" has or has had any accrued benefits, the top-heavy ratio for this plan aloneany "required aggregation group" or for the required or permissive"permissive aggregation groupgroup" as appropriate is a fraction, the numerator of which is the sum of account balances under the aggregated defined contribution plan or plans for all Key Employees, determined in accordance with # above, and the "present value" of accrued benefits under the aggregated defined benefit plan or plans for all Key Employees as of the "determination date," and the denominator of which is the sum of the account balances under the aggregated defined contribution plan or plans for all participants, determined in accordance with # above, and the "present value" of accrued benefits under the defined benefit plan or plans for all key employeesparticipants as of the determination date(s) including"determination date," all determined in accordance with Code §416 and the Regulations thereunder. The accrued benefits under a defined benefit plan in both the numerator and denominator of the top-heavy ratio are increased for any partdistribution of any account balance distributedan accrued benefit made in the one-1-year period ending on the determination date(s) (five-"determination date" (5-year period ending on the determination date"determination date" in the case of a distribution made for a reason other than severance from employment, death or disability and in determining whether the plan is top-heavy for plan years beginning before January 1, 2002), and the denominator of which is the sum of all account balances including any part of any account balance distributed in the one-year period ending on the determination date(s) (five-year period ending on the determination date in the case of a distribution made for a reason other than severance from employment, death or disability and in determining whether the plan is top-heavy for plan years beginning before January 1, 2002), both computed in accordance with Code section 416 and the regulations thereunder. Both the numerator and denominator of the top-heavy ratio are increased to reflect any contribution not actually made as of the determination date, but which is required to be taken into account on that date under Code section 416 and the regulations thereunder.deat h

Select clause to view document information.

Draft better contracts
faster with AllDrafts

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.