EMPLOYER CONTRIBUTIONS AND FORFEITURES. 3.01 AMOUNT. For each Plan Year, DST will contribute to the Trust an amount which DST may from time to time deem advisable. DST (or the Advisory Committee on behalf of DST) shall determine the extent to which such contributions are directed to the Separate Trust or the Master Trust. DST may not make a contribution to the Trust for any Plan Year to the extent the contribution would exceed the Participants' in the Plan "Maximum Permissible Amounts". DST contributes to this Plan on the condition its contribution is not due to a mistake of fact and the Internal Revenue Service will not disallow the deduction for its contribution. The Trustee, upon written request from DST, must return to DST the amount of DST's contribution made by DST by mistake of fact or the amount of DST's contribution disallowed as a deduction under Code ss.404. The Trustee will not return any portion of DST's contribution under the provisions of this paragraph more than one year after: (a) DST made the contribution by mistake of fact; or (b) The disallowance of the contribution as a deduction, and then, only to the extent of the disallowance. The Trustee will not increase the amount of DST's contribution returnable under this Section 3.01 for any earnings attributable to the contribution, but the Trustee will decrease DST's contribution returnable for any losses attributable to it. The Trustee may require DST to furnish it whatever evidence the Trustee deems necessary to enable the Trustee to confirm the amount DST has requested be returned is properly returnable under ERISA. DST may make its contribution in cash or in Employer Securities as DST from time to time may determine. DST may make its contribution of Employer Securities at fair market value determined at the time of contribution.
Appears in 2 contracts
Sources: Employee Stock Ownership Plan and Trust Agreement (DST Systems Inc), Employee Stock Ownership Plan and Trust Agreement (DST Systems Inc)
EMPLOYER CONTRIBUTIONS AND FORFEITURES. Part 1. Amount of Employer Contributions and Plan Allocations: Sections 3.01 through 3.06 3.01 AMOUNT. For each Plan Year, DST the Employer will contribute to the Trust an the amount which DST the Employer may from time to time deem advisable. DST (or The Employer may contribute to this Plan irrespective of whether it has net profits. The Employer intends the Advisory Committee on behalf Plan to be an employee stock ownership plan for all purposes of DST) shall determine the extent to which such contributions are directed to the Separate Trust or the Master TrustCode. DST The Employer may not make a contribution to the Trust for any Plan Year to the extent the contribution would exceed the Participants' in the Plan "Maximum Permissible Amounts". DST See Part 2 of this Article III. The Employer contributes to this Plan on the condition its contribution is not due to a mistake of fact and the Internal Revenue Service will not disallow the deduction for its contribution. The Trustee, upon written request from DSTthe Employer, must return to DST the Employer the amount of DSTthe Employer's contribution made by DST the Employer by mistake of fact or the amount of DSTthe Employer's contribution disallowed as a deduction under Code ss.404. The Trustee will not return any portion of DSTthe Employer's contribution under the provisions of this paragraph more than one year after:
(a) DST The Employer made the contribution by mistake of fact; or
(b) The disallowance of the contribution as a deduction, and then, only to the extent of the disallowance. The Trustee will not increase the amount of DST's the Employer contribution returnable under this Section 3.01 for any earnings attributable to the contribution, but the Trustee will decrease DST's the Employer contribution returnable for any losses attributable to it. The Trustee may require DST the Employer to furnish it whatever evidence the Trustee deems necessary to enable the Trustee to confirm the amount DST the Employer has requested be returned is properly returnable under ERISA. DST may make its contribution in cash or in Employer Securities as DST from time to time may determine. DST may make its contribution of Employer Securities at fair market value determined at the time of contribution.
Appears in 1 contract
Sources: Employee Stock Ownership Plan (Exigent International Inc)