DETERMINATION OF TOP. Heavy Status. This section shall apply for purposes of determining whether the Plan is a top-heavy plan under Code ss. 416(g) and whether the Plan satisfies the minimum benefits requirements of Code ss. 416(c) for Plan Years beginning on or after January 1, 2002. If, as of the last day of any such Plan Year ("determination date"), the sum of the present value of the accrued benefits of key employees (as defined below) exceeds 60% of the sum of the present value of the accrued benefits of all employees as of that determination date, this Plan will be top heavy for the immediately following Plan Year. For this purpose,
Appears in 2 contracts
Sources: 401(k) Plan and Trust Agreement (Lodgian Inc), 401(k) Plan and Trust Agreement (Lodgian Inc)