Agenda - Council - 06/09/1992 - Laserfiche WebLink

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IX. LIMrr~TIoN ON ALLOCATIONS If the l~m, ploYgr (i) maintains or ever maintained another qualified plan in which any Participant in this Plan is (or was) a p~.rli¢i~ant or could possibly become a participant, and/or (ii) maintains a welfare benefit fund (as defined in Se~t|o~i 4f~e) of the Code) or an individual medical account (as defined in Section 415(1)(2) of the Code, under which ~t~oUn6 are treated as Annual Additions with respect to any Participant in this Plan), the Employer hereby agrees to~limi:tlcontributions to all such plans as provided herein, if necessary, in order to avoid excess contributions (as deSCr~'oed in Sections 6.03 and 6.04 of the Plan). 1. if the~participant is covered under another qualified defined contribution plan maintained by the Employer, ~ther~than a Regional Prototype Plan, the provisions of Section 6.02(a) through (f) of the Plan will apply 9s if ~the other plan were a Master or Prototype Plan, unless another method has been indicated below. £ Other Method. (Provide the method under which the plans will limit total Annual Additions to the Maximum Permissible Amount, and will properly reduce any excess amounts, in a manner that precludes Employer discretion.) if theiParticipant is or has ever been a participant in a defined benefit plan maintained by the Employer, .and if~the limitation in Section 6.04 of the plan would be exceeded, then the Participant's Projected Annual ]~enet~t under the defined benefit plan shall be reduced in accordance with the terms thereof to the extent ttee,~Sary to satisfy such limitation. If such plan does not provide for such reduction, or if the limitation ~s stili exceeded after the reduction, annual aditions shall be reduced to the extent necessary in the manner ~esedbed in Sections 6.01 through 6.03. the methods of avoiding the limitation described in this paragraph Will not apply if the Employer indicates another method below. Other Method. (Note to Employer: Provide below language which will satisfy the 1.0 limitation of section 415(e) of the Code. such language must preclude Employer discretion. See section 1.415-1 of the regulations for guidance.) 4 The limitation year is the following twelve (12) consecutive month period: Month/Day 4 5, 001-91F