Common use of Excess Integrated Allocation Formula Clause in Contracts

Excess Integrated Allocation Formula. The Employer shall have the right to make a discretionary Non- Elective contribution. The Employer's contribution for the Plan Year shall be allocated to the accounts of eligible Participants as follows: a. Step One: To the extent contributions are sufficient, all Participants will receive an allocation equal to 5.7% of their Compensation. b. Step Two: Any remaining Employer contributions will be allocated up to a maximum of 5.7% of excess Compensation of all Participants to Participants who have Compensation in excess of the Integration Level (excess Compensation). Each such Participant will receive an allocation in the ratio that his or her excess Compensation bears to the excess Compensation of all Participants. If Employer contributions are insufficient to fund to this level, the Employer must determine the uniform allocation percentage to allocate to those Participants who have Compensation in excess of the Integration Level. To determine this uniform allocation percentage, the Employer must take the remaining contribution and divide that amount by the total excess Compensation of Participants. c. Step Three: Any remaining Employer contributions will be allocated to all Participants in the ratio that each Participant's Compensation bears to all Participants' Compensation.