Common use of Calendar Year Data Election Clause in Contracts

Calendar Year Data Election. If the Plan Year is not the calendar year, the prior year computation period for purposes of determining if an Employee earned more than $95,000, as indexed, is the calendar year beginning in the prior Plan Year. This election is applicable for the Plan Year in which this Plan is effective. D. “Hour of Service” o 1. Not applicable. A Year of Service (Period of Service) is defined using the Elapsed Time method. o 2. On the basis of actual hours for which an Employee is paid or entitled to payment [Plan defaults to this election]. o 3. On the basis of days worked. An Employee shall be credited with ten (10) Hours of Service if the Employee would be credited with at least one (1) Hour of Service during the day. o 4. On the basis of weeks worked. An Employee shall be credited with forty-five (45) Hours of Service if the Employee would be credited with at least one (1) Hour of Service during the week. þ 5. On the basis of semi-monthly payroll periods. An Employee shall be credited with ninety-five (95) Hours of Service if the Employee would be credited with at least one (1) Hour of Service during the semi-monthly payroll period (applicable for employees compensated semi-monthly). þ 6. On the basis of months worked. An Employee shall be credited with one-hundred-ninety (190) Hours of Service if the Employee would be credited with at least one (1) Hour of Service during the month (applicable for employees compensated bi-weekly). E. “Integration Level” þ 1. Not applicable. Either the Plan’s allocation formula is not integrated with Social Security or there are no Non-Elective Employer Contributions being made to the Plan [Plan defaults to this election]. o 2. The Taxable Wage Base. o 3. (not more than 100%) of the Taxable Wage Base. o 4. $ ___, provided that such amount is not in excess of the amount determined under paragraph (E)(2) above. o 5. One dollar over 80% of the Taxable Wage Base.

Calendar Year Data Election. If the Plan Year is not the calendar year, the prior year computation period for purposes of determining if an Employee earned more than $95,000, as indexed, is the calendar year beginning in the prior Plan Year. This election is applicable for the Plan Year in which this Plan is effective. D. “Hour of Hours Of Service” o 1. Not applicable. A Year of Service (Period of Service) is defined using the Elapsed Time method. o x 2. On the basis of actual hours for which an Employee is paid or entitled to payment [Plan defaults to this election]. o 3. On the basis of days worked. An Employee shall be credited with ten (10) Hours of Service if the Employee would be credited with at least one (1) Hour of Service during the day. o 4. On the basis of weeks worked. An Employee shall be credited with forty-five (45) Hours of Service if the Employee would be credited with at least one (1) Hour of Service during the week. þ o 5. On the basis of semi-monthly payroll periods. An Employee shall be credited with ninety-five (95) Hours of Service if the Employee would be credited with at least one (1) Hour of Service during the semi-monthly payroll period (applicable for employees compensated semi-monthly)period. þ o 6. On the basis of months worked. An Employee shall be credited with one-hundred-ninety (190) Hours of Service if the Employee would be credited with at least one (1) Hour of Service during the month (applicable for employees compensated bi-weekly)month. E. “Integration Level” þ x 1. Not applicable. Either the Plan’s allocation formula is not integrated with Social Security or there are no Non-Elective Employer Contributions being made to the Plan [Plan defaults to this election]. o 2. The Taxable Wage Base. o 3. (not more than 100%) of the Taxable Wage Base. o 4. $ $________, provided that such amount is not in excess of the amount determined under paragraph (E)(2) above. o 5. One dollar over 80% of the Taxable Wage Base. o 6. 20% of the Taxable Wage Base. F. “Limitation Year” G. “Net Profit” x 1. Not applicable. Employer contributions to the Plan are not conditioned on profits [Plan defaults to this election]. o 2. Net Profits are required for making Employer contributions and are defined as follows: o a. As defined in the Basic Plan Document #01. o b. Net Profits will be defined in a uniform and nondiscriminatory manner which will not result in a deprivation of an eligible Participant of any Employer Contribution.