Examples of Current year in a sentence
The Employer may elect in the Adoption Agreement to change from the Prior Year Testing method to the Current Year Testing method in accordance with the Code and IRS Regulations.
It is computed by adding the Current Year Non-catastrophe Losses and LAE Ratio with the Insurance Expense Ratio.
If no election is made, the Plan will use the Current Year testing method for both the ADP and ACP Tests.
Prior to the Final 401(k) Regulations Effective Date, the Employer was limited to Current Year Testing under Notice 98-52.
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).