automatic contribution arrangement

(2)For purposes of this subsection, the term “automatic contribution arrangement” means an arrangement— (A)under which a participant may elect to have the plan sponsor make payments as contributions under the plan on behalf of the participant, or to the participant directly in cash, (B)under which a participant is treated as having elected to have the plan sponsor make such contributions in an amount equal to a uniform percentage of compensation provided under the plan until the participant specifically elects not to have such contributions made (or specifically elects to have such contributions made at a different percentage), and (C)under which such contributions are invested in accordance with regulations prescribed by the Secretary undersection 1104(c)(5) of this title.

Source

29 USC § 1144(e)(2)


Scoping language

None: Default is title Scope
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