Method Of Allocation definition

Method Of Allocation. Any allocation under this Section will be made beginning with a group as determined by the Administrator of one of more such Eligible Participants who have the lowest Compensation and continuing with the next one or more Eligible Participant who have the next lowest Compensation until no further allocations are required for the Plan to pass the ADP or ACP Tests. The amount that is so allocated for any such Eligible Participant will be determined by the Administrator, but will not exceed an amount equal to such Participant's maximum Annual Addition for the Plan Year as set forth in Article 6. In addition, if permissible disaggregation under Code section 410(b)(4) or Code section 401(k)(3)(F) is utilized for purposes of ADP and/or ACP testing for the Plan Year, the Administrator may further limit the number of Eligible Participants who receive such allocation to those Participants (A) who also satisfy the maximum minimum age and service requirements under Code section 410(b) for the purpose of making Elective Deferrals, or (B) to those Participants who do not satisfy the maximum minimum age and service requirements under Code section 410(b) for the purpose of making Elective Deferrals; and if permissible disaggregation under Code section 410(b)(4) is utilized for ADP and/or ACP testing for the Plan Year, the Administrator may also determine that a different allocation amount be made hereunder with respect to such Eligible Participants in clauses (A) or (B).
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Related to Method Of Allocation

  • Plan of Allocation means the proposed plan of allocation of the Net Settlement Fund set forth in the Notice.

  • Authorized Allocation means an amount equivalent to $500,000 to be withdrawn from the Credit Account and deposited into the Special Account pursuant to paragraph 3 (a) of this Schedule.

  • Allocation has the meaning set forth in Section 3.3.

  • Wasteload allocation or "wasteload" or "WLA" means the portion of a receiving surface water's loading or assimilative capacity allocated to one of its existing or future point sources of pollution. WLAs are a type of water quality-based effluent limitation.

  • Purchase Price Allocation has the meaning set forth in Section 2.6(a).