Common use of Prior Year Testing Method Clause in Contracts

Prior Year Testing Method. The prior year ratio will be used for Plan Years beginning on or after 1. [ ] N/A. (Effective date of prior year testing is after effective date of Code Section 401(k) feature.) 2. [ ] 3%.

Prior Year Testing Method. The prior year ratio will be used for Plan Years beginning on or after 1. [ ] N/A. (Effective date of prior year testing is after effective date of Code Section 401(k401(m) feature.) ) 2. [ ] 3%. 3. [ ] the actual percentage for the initial Plan Year.