Common use of Aggregation of Plans Clause in Contracts

Aggregation of Plans. In the event that this Plan satisfies the requirements of section 410(b) of the Code only if aggregated with one or more other plans, then this Article III shall be applied by determining the “average deferral percentage” and “contribution percentage” of Members as if all such plans were a single plan. Plans may be aggregated under this Section 3.5.2 only if they have the same plan year.

Appears in 2 contracts

Sources: Savings Plan (Arrow Electronics Inc), Savings Plan (Arrow Electronics Inc)

Aggregation of Plans. In the event that this Plan satisfies the requirements of section 410(b) of the Code only if aggregated with one or more other plans, then this Article III shall be applied by determining the "average deferral percentage" and "contribution percentage" of Members as if all such plans were a single plan. Plans may be aggregated under this Section 3.5.2 only if they have the same plan year.

Appears in 1 contract

Sources: Affiliate Agreement (Arrow Electronics Inc)