A participant who, at any time during the plan year or any of the four preceding years is (or was): (1) an officer who earns in excess of 50% of the annual dollar limitation for defined benefit plans, (2) one of the 10 employees owning the largest interest in the employer and receiving annual compensation of more than $30,000, (3) a more than 5% owner of the employer, or (4) a more than 1% owner earning more than $150,000.
a civilian employee of a federal, state, or local government agency or private industry who is in a key position for which no qualified replacement is immediately available and whose duties cannot be reassigned to other employees
an employee of the business whom the chief executive officer (CEO) of the relocating business reasonably considers will be essential to the operation of the relocated business in New Zealand
a salaried eligible employee who is among the highest paid ten percent of employees in ARB
A participant who, at any time during the plan year is: (1) an officer who earns more than $130,000, (2) a more-than-5 percent owner of the employer, or (3) a more-than-1 percent owner earning more than $150,000.
Key employees include employees (or former employees) who, at any time during the plan year (plan year beginning in 2005), met any one of the following criteria: an officer having annual compensation greater than $135,000 (the $135000 limit is subject to Cost of Living Adjustments);a more than 5% owner of the employer; or a more than 1% owner with compensation in excess of $150,000. Also see 'Family Attribution' regarding determination of Ownership.
An owner or a highly skilled employee whose efforts are directly responsible for some measure of profitability to the firm. return
Insurance Protection of a business against financial loss caused by the death or disablement of a vital member of the company, usually individuals possessing special managerial or technical skill or expertise. Also called key executive insurance.
For purposes of rules that apply to top heavy plans, a key employee: 1. An officer of the employer earning more than $130,000; 2. An individual who owns more than 5 percent of the employer; 3. An individual who owns more than 1 percent of the employer and compensation greater than $150,000.
An employee who possesses valued skills, craft knowledge, intellectual or organization abilities, and is crucial to the ongoing operation of the business or company and is difficult to replace.