PARTICIPATION AGREEMENT
AMERICAN CHAMBER OF COMMERCE EXECUTIVES PROFIT SHARING PLAN
The Employer named below hereby adopts the American Chamber of Commerce Executives Profit Sharing Plan (“the
Plan”). By adoption, the Employer has agreed to follow all plan provisions and requirements as specified in the Plan.
When signed below, this Participation Agreement will become a part of the Plan. American Chamber of Commerce
Executives hereby consents to the adoption of the Plan by the Employer.
Employer:
Name: ABC Chamber
Employer Identification Number: 00-0000000
Effective Date of adoption of the Plan: 01/01/201X
Amendment Effective Date (if this is not the initial adoption of the Plan): N/A
SECTION 1.02 – DEFINITIONS. (Please provide the following information):
Compensation: Compensation shall exclude the following (Please note that these exclusions may require additional
testing):
Fringe benefits: Reimbursements or other expense allowances, fringe benefits (cash and noncash), moving
expenses, deferred compensation (other than elective contributions), and welfare benefits.
Overtime
Commissions
Bonuses
Other (please specify):
Vesting Percentage: please select one of the following schedules if you make Employer Contributions, other than
Elective Deferral Contributions and 401(k) Safe Harbor Contributions, for your Employees:
100% full and immediate vesting
3-year cliff vesting schedule:
VESTING SERVICE (whole years)
Less than 3
3 or more
VESTING PERCENTAGE
0
100
6-year graded vesting schedule:
VESTING SERVICE (whole years)
Less than 2
2
3
4
5
6 or more
VESTING PERCENTAGE
0
20
40
60
80
100
PARTICIPATION AGREEMENT
1
(6-14541)
Other vesting schedule (must be at least as good at every point as one of the above schedules)
VESTING SERVICE (whole years)
VESTING PERCENTAGE
Less than
SECTION 2.01 – ACTIVE PARTICIPANT.
Eligibility Service required:
None
3 months of Eligibility Service
6 months of Eligibility Service
One year of Eligibility Service (1,000 hours required in a Plan Year)
Minimum age required:
None
Age 18
Age 21
Entry Date:
Date requirements are met
Monthly Date
Quarterly Date (only allowed if one year of Eligibility Service requirement is selected above)
SECTION 3.01 – EMPLOYER CONTRIBUTIONS.
(a)
Elective Deferral Contributions: (Both Pre-tax and Roth Elective Deferral Contributions are allowed)
Minimum: 1% of pay
Maximum: 92% of pay (Cannot be more than 92%)
Automatic Enrollment: (Percentage elected below is the percentage a Participant is enrolled at unless the
Participant opts out)
Not allowed
Allowed: 6% of pay
(b)
Regular Matching Contributions: (Cannot be used in conjunction with a Safe Harbor Matching Contribution)
Not allowed
Regular Matching Contributions will be made in an amount equal to
% (example 25%, 50%, 75%,
100%) of Elective Deferral Contributions. Elective Deferral Contribution in excess of
% of
Compensation will not be matched.
Tiered formula: (a)
% of Elective Deferral Contributions that are not over (b)
% of
Compensation, plus (c)
% (must be less than (a)) of Elective Deferral Contributions which are
over the percentage of Compensation specified in (b) but are not over
% of Compensation.
PARTICIPATION AGREEMENT
2
(6-14541)
(c)
Profit Sharing Contributions: (Calculation is on total annual compensation so funding is recommended on
an annual basis at year end)
Not applicable
Discretionary, pay formula
Discretionary, integrated formula
Integration Level:
Taxable Wage Base
% of the Taxable Wage Base
$
(d)
Additional Employer Contributions: (Calculation is on each pay period compensation so funding is to be
submitted on a per pay period basis only)
Not applicable
% of Compensation
(e)
401(k) Safe Harbor:
Not applicable
Safe Harbor Qualified Nonelective Contribution: Qualified Nonelective Contribution equal to
% of
Compensation (at least 3%)
Safe Harbor Matching Contribution:
Tiered match:
% (std: 100%) of Elective Deferral Contributions up to
% (std: 3%) of
Compensation, plus
% (std: 50%) of Elective Deferral Contributions from the percentage of
Compensation specified above to
% (std: 6%) of Compensation.
Enhanced match: 100% of Elective Deferral Contributions up to
% of Compensation (From
4% to 6%).
SECTION 3.01A – VOLUNTARY CONTRIBUTIONS BY PARTICIPANTS.
Allowed: Minimum:
Not allowed
% of pay. Maximum:
% of pay
PLAN EXECUTION
This Participation Agreement may only be used with the American Chamber of Commerce Executives Profit
Sharing Plan. By executing this Plan, the Employer acknowledges having counseled to the extent necessary with
selected legal and tax advisors regarding the Plan’s legal and tax implications.
FOR THE EMPLOYER
ACCE BENEFIT TRUST
By:
_____________________________________
By:
_____________________________________
Title:
_____________________________________
Title:
_____________________________________
Date:
________________________ , ___________
Date:
________________________ , ___________
PARTICIPATION AGREEMENT
3
(6-14541)