Common use of Determination of Present Value Clause in Contracts

Determination of Present Value. If the Employer maintains a defined benefit plan in addition to this Plan, and such plan fails to specify the interest rate and mortality table to be used for purposes of establishing present value to compute the Top-Heavy Ratio, then the following assumptions shall be used: Interest Rate: 8% Mortality Table: 1983 GROUP ANNUITY TABLE XIX. LIMITATION ON ALLOCATIONS If the adopting Employer maintains or has ever maintained another qualified plan in which any Participant in this Plan is (or was) a Participant or could possibly become a Participant, the adopting Employer must complete this Section. The Employer must also complete this Section if it maintains a welfare benefit fund, as defined in Section 419(e) of the Code, or an individual medical account, as defined in Section 415(l)(2) of the Code, under which amounts are treated as Annual Additions with respect to any Participant in the Plan. (a) If the Participant is covered under another qualified defined contribution plan maintained by the Employer, other than a Master or Prototype Plan, Annual Additions for any Limitation Year shall be limited to comply with Section 415(c) of the Code:

Determination of Present Value. If the Employer maintains a defined benefit plan in addition to this Plan, and such plan fails to specify the interest rate and an mortality table to be used for purposes of establishing present value to compute the Top-Heavy Ratio, then the following assumptions shall be used: Interest Rate: 8% Mortality Table: 1983 GROUP ANNUITY TABLE XIX. LIMITATION ON ALLOCATIONS If the adopting Employer maintains or has ever maintained another qualified plan in which any Participant in this Plan is (or was) a Participant or could possibly become a Participant, the adopting Employer must complete this Section. The Employer must also complete this Section if it maintains a welfare benefit fund, as defined in Section 419(e) of the Code, or an individual medical account, as defined in Section 415(l)(2) of the Code, under which amounts are treated as Annual Additions with respect to any Participant in the Plan. (a) If the Participant is covered under another qualified defined contribution plan maintained by the Employer, other than a Master or Prototype Plan, Annual Additions for any Limitation Year shall be limited to comply with Section 415(c) of the Code: