Integration Level definition

Integration Level means the Social Security taxable wage base for the Plan Year, unless the Employer elects a lesser amount in (A) or (B) below.
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Integration Level for a plan year means one-half of Social Security-covered compensation for an individual who reaches Social Security retirement age in that year, but not less than $10,000.
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Integration Level means the Taxable Wage Base or such lesser amount elected by the Employer in the Adoption Agreement.
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Examples of Integration Level in a sentence

  • 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.

  • If a Participant receives Compensation from more than one contributing Employer, the Advisory Committee will determine the allocations under this Adoption Agreement Section 3.04 by prorating among the participating Employers the Participant's Compensation and, if applicable, the Participant's Integration Level under Option (i).

  • The percentage of Compensation contributed under the Plan (but in no event less than 3%) with respect to that portion of each Participant's Compensation not in excess of the Integration Level.

  • The Adoption Agreement must specify an Integration Level in effect for the Plan Year.

  • If the Employer specifies an Integration Level in Section III(E) which is lower than the Taxable Wage Base for Social Security purposes (SSTWB) in effect as of the first day of the Plan Year, the percentage contributed with respect to excess Compensation must be adjusted.


More Definitions of Integration Level

Integration Level. |X| (1) This Plan is not integrated with Social Security. (2) This Plan is integrated with Social Security. The Integration Level shall be (select one): (a) the Taxable Wage Base. |_| (b) $________ (a dollar amount less than the Taxable Wage Base). |_|
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Integration Level means the Taxable Wage Base or such lesser amount elected by the Employer in the Adoption Agreement. 1.16 "Net Profits" shall mean the current and accumulated earnings of the Employer before Federal and State taxes and contributions to this and any other qualified plan. 1.17 "Non-Highly Compensated Employee" shall mean an Employee of the Employer who is neither a Highly Compensated Employee nor a Family Member. 1.18 "Participant" shall mean an Eligible Employee participating in the Plan in accordance with Section 2.1. 1.19 "Plan" shall mean this Prototype Simplified Employee Pension and the Adoption Agreement of the Adopting Employer, as from time to time amended. 1.20 "Plan Year" shall mean the calendar year, unless the Employer's fiscal year is specified as the Plan Year in the Adoption Agreement. 1.21 "SEP" shall mean a Simplified Employee Pension within the meaning of section 408(k) of the Code. 1.22 "Sponsor" shall mean The Dreyfus Corporation. 1.23 "Taxable Wage Base" shall mean the contribution and benefit base in effect under Section 230 of the Social Security Act at the beginning of the Plan Year.
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Integration Level for a Plan Year shall mean the lesser of the Social Security Wage Base or the dollar amount specified in the Adoption Agreement.
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Integration Level. [x] 1. Not applicable. Either the Plan's allocation formula is not integrated with Social Security or there are no Non-Elective Employer Contributions being made to the Plan [Plan defaults to this election].
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Integration Level means the Social Security taxable wage base for the Plan Year, unless the Employer elects a lesser amount in (i) or (ii) below.
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Integration Level means the amount of Compensation specified in the Adoption Agreement at or below which the rate of contributions or benefits (expressed as a percentage of such Compensation) provided under the Plan is less than the rate of contributions or benefits (expressed as a percentage of such Compensation) provided under the Plan with respect to Compensation above such amount. The Integration Level for any Plan Year shall not exceed the Taxable Wage Base in effect at the beginning of such Plan Year.
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Integration Level. [X] 1. Not applicable. The Plan's allocation formula is not integrated with Social Security.
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