Common use of Accumulation Plan Clause in Contracts

Accumulation Plan. The sum of a percentage of each Participants Average ☐ Annual ☐ Monthly Compensation multiplied by Years of Credited Service, such percentage based on the Participant’s classification. Employee Benefit Classification Percentage Description of Classification A % B % C % D % E % F % G % H % I % J % NOTE: This arrangement must satisfy IRS section 401(a)(26) including the meaningful benefit requirement of Treasury Regulation 1.401(a)(26)-3(c)(2).

Accumulation Plan. The sum of a percentage of each Participants Average ☐ o Annual ☐ o Monthly Compensation multiplied by Years of Credited Service, such percentage based on the Participant’s classification. Employee Classification Benefit Classification Percentage Description of Classification A % B % C % D % E % F % G % H % I % J % NOTE: This arrangement must satisfy IRS section 401(a)(26) including the meaningful benefit requirement of Treasury Regulation 1.401(a)(26)-3(c)(2).%