Common use of Discretionary Matching Contribution Cannot Exceed 4% of Compensation Clause in Contracts

Discretionary Matching Contribution Cannot Exceed 4% of Compensation. If Matching Contributions are discretionary, then the Matching Contributions cannot exceed 4% of the Safe Harbor Participant’s Compensation; and

Appears in 2 contracts

Sources: 401(k) Non Standardized Prototype Adoption Agreement (Michaels Stores Inc), 401(k) Non Standardized Prototype Adoption Agreement (Littelfuse Inc /De)