SINGLE PLAN COVERAGE Sample Clauses

SINGLE PLAN COVERAGE. If the Participant does not participate in, and has never participated in another qualified plan maintained by the Employer or a welfare benefit fund, as defined in Section 419(e) of the Code maintained by the Employer, or an individual medical account, as defined in Section 415(1)(2) of the Code, maintained by the Employer, which provides an Annual Addition, the amount of Annual Additions which may be credited to the Participant's Account for any Limitation Year will not exceed the lesser of the Maximum Permissible Amount or any other limitation contained in this Plan. If, as a result of the allocation of forfeitures, a reasonable error in estimating a Participant's Compensation, a reasonable error in determining the amount of Elective Deferrals that may be made with respect to any individual under the limits of Section 415 of the Code, or under other limited facts and circumstances that the Commissioner of Internal Revenue finds justify the availability of the rules set forth in this Section, the Annual Additions for a particular Participant will exceed the Maximum Permissible Amount for any Limitation Year, then the excess amount shall be reduced so that the Annual Additions for the Limitation Year will be equal to the Maximum Permissible Amount. (a) Prior to determining the Participant's actual Compensation for the Limitation Year, the Employer may determine the Maximum Permissible Amount for a Participant on the basis of a reasonable estimation of the Participant's Compensation for the Limitation Year, uniformly determined for all Participants similarly situated. (b) As soon as is administratively feasible after the end of the Limitation Year, the Maximum Permissible Amount for the Limit ation Year will be determined on the basis of the Participant's actual Compensation for the Limitation Year. (c) If pursuant to the preceding subsection, as a result of the allocation of forfeitures, a reasonable error in determining the amount of Elective Deferrals that may be made with respect to any individual, or under other limited facts and circumstances deter mined by the Commissioner, there is an Excess Amount, the excess will be disposed of as follows: 1. Any Nondeductible Employee Contributions, to the extent they would reduce the Excess Amount, will be returned to the Parti cipant; 2. Then, Elective Deferrals, to the extent they would reduce the Excess Amount, plus the net income and gains attribu table thereto, will be returned to the Participant; 3. If af...
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Related to SINGLE PLAN COVERAGE

  • Vision Coverage A fully employee paid vision benefit will be available beginning January 1, 2021 subject to agreement by the subcommittee of the Joint Labor Management Insurance Committee to the benefit set determined through the state’s Request for Proposal (RFP) process.

  • COMPENSATION COVERAGE The Employer shall provide coverage to all employees for injury on the job under the Workers’ Compensation Act of the Province of Alberta, or under an Insured Plan which provides coverage of compensation equal thereto.

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

  • Single Coverage The School District will pay up to $28.00 per month for individual coverage for each full-time teacher who qualifies for and enrolls in the School District's group dental insurance plan.

  • Dental Coverage Each employee covered by this agreement shall be eligible to participate in the City's dental program.