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Common use of QNECs and QMACs Clause in Contracts

QNECs and QMACs. In the discretion of the Sponsoring Employer, Qualified Non-Elective Contributions and Qualified Matching Contributions.

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)

Related Clauses

  • Matching Contributions
  • Elective Deferrals
  • Employer Contributions
  • Excess Contributions
  • Employee Contributions

Parent Clauses

  • Actual Deferral Percentage (ADP) Test
  • Calculation of ADP
  • DEDUCTIBLE EMPLOYEE CONTRIBUTIONS (DECs)
  • USERRA
  • Nondiscrimination Tests

Sub-Clauses

  • Content Requirements
  • ADP Safe Harbor Matching Contribution
  • Periodic Matching Contributions
  • Limitation on HCE Matching Contributions
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