Testing Method definition

Testing Method means either the "prior year method" or the "current year method." Under the prior year method, the Actual Deferral Percentage and Actual Contribution Percentage for the group of Eligible Employees who are Nonhighly Compensated Employees is determined based on data from the preceding plan year. Under the current year method, the Actual Deferral Percentage and Actual Contribution Percentage for the group of Eligible Employees who are Nonhighly Compensated Employees is determined based on data from the current plan year. Under both methods, the Actual Deferral Percentage and Actual Contribution Percentage for the group of Eligible Employees who are Highly Compensated Employees is determined based on data from the current plan year.

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Testing Method means the Current Year Testing Method or the Prior Year Testing Method.

Testing Method means the Current Year Testing Method or the Prior Year Testing Method, as determined by context.

Examples of Testing Method in a sentence

If the Employer has elected in the Adoption Agreement to use the Current Year Testing Method, then, in calculating the Aggregate Limit for a particular Plan Year, the Non-Highly Compensated Employees’ ADP and ACP for that Plan Year, instead of the prior Plan Year, is used.
Sampling shall be in accordance with Indiana Testing Method (ITM) 810).
If the Employer elects to use the Current Year Testing Method, it may switch to the Prior Year Testing Method only if the Plan satisfies the requirements for changing to the Prior Year Testing Method as set forth in IRS Notice 98-1 (or superseding guidance).
The Sponsoring Employer may elect either the Prior Year Testing Method or Current Year Testing Method in the Adoption Agreement.
All Sodium Chloride delivered will be visually inspected by ▇▇▇▇▇ at the time of delivery and samples may be tested for gradation, purity, and moisture content in accordance with Indiana Testing Method (ITM) 810.
The same ACP Testing Method will apply to After-Tax Employee Contributions as applies to Matching Contributions, as designated under AA §6B-6.
If the Employer elects to use the Current Year Testing Method under Part 4F of the Agreement, the Plan must satisfy the ADP Test, as described in subsection (1) above, for each Plan Year, but using the ADP of the Nonhighly Compensated Employee Group for the current Plan Year instead of for the prior Plan Year.
If the Prior Year Testing Method applies, the ADP of the Nonhighly Compensated Group for the first Plan Year is deemed to be 3%.
For Plan Years beginning before January 1, 1997, the Current Year Testing Method is deemed to have been in effect.
If the Employer is using the Prior Year Testing Method (as described in subsection (a)(1) above), QNECs taken into account for the Nonhighly Compensated Employee Group must be allocated for the prior Plan Year, and must be made no later than the end of the 12-month period immediately following such Plan Year.

More Definitions of Testing Method

Testing Method means the Current Year Testing Method. The election to use the Current Year Testing Method can be changed to the Prior Year Testing Method only if the

Testing Method means either the “prior year method” or the “current year method.” Under the prior year method, the Actual Deferral Percentage and Actual

Related to Testing Method

Reference method means any direct test method of sampling and analyzing for an air pollutant as specified in 40 CFR 60, Appendix A*.
Alternative method means any method of sampling and analyzing for an air pollutant that is not a reference or equivalent method but that has been demonstrated to the satisfaction of the commissioner and the U.S. EPA to, in specific cases, produce results adequate for a determination of compliance.
Prior Year means the year commencing 1 April immediately prior to the relevant Charging Year;