...more than 20 hours In any one week, and employees whose customary employment Is for not more than 6 months in any calendar year, or (B) Such employees...other employees, or highly compensated employees. (B) A classification shall not be considered discriminatory within the meaning of paragraph (3) (B)...

...his employees or their beneficiaries shall constitute a qualified trust under this section. • * * (3) if the trust, or two or more trusts, or the trust...other employees, or highly compensated employees. employees.6 Section 401(a)(3XA) establishes an automatic percentage test, which, if satisfied, was...

...pertinent to this case, sections 401(aX3) and 401(aX4) provided that a trust is a qualified trust — (3) if the trust, or two or more trusts, or the trust...other employees, or highly compensated employees. * • * In his adverse determination letter, respondent retroactively revoked the qualified status...

...or their beneficiaries shall constitute a qualified trust under this section— • ••••*• (3) if the trust, or two or more trusts, or the trust...the work of other employees, or highly compensated employee*. Respondent contends that the profit-sharing plan failed to meet the coverage requirements...

...beneficiaries shall constitute a qualified trust under this section — * * * (3) if the trust, or two or more trusts and annuity plan or plans are designated by...other employees, or highly compensated employees. 5 See n. 4 supra. contend to the contrary. Rather, respondent takes the position that, even though Albets'...

...employed not more than a minimum period prescribed by the plan, not exceeding 5 years, employees whoso customary employment is for not more than 20 hours...shareholders, persons whose principal duties consist la supervising the work of other employees, or highly compensated employees. (5) A classification shall...

...of all employees of the employer under the formula set forth therein (which is not involved here), or (B) such employees as qualify under a classification...of other employees, or highly compensated employees (referred to hereinafter as the prohibited group). •All section references are to the Internal Revenue...

...purportedly benefit a cross section of employees, or in the words of the Internal Revenue Code, "plans which do not discriminate in favor of employees who are...other employees, or highly compensated employees." Obviously, the aim of the code is to encourage retirement programs for those who will not ordinarily...

...classification set up by the employer and found by the Secretary or his delegate not to be discriminatory in favor of employees who are officers, shareholders,...other employees, or highly compensated employees; a profit-sharing plan. [Emphasis added.) I61 Applying this regulation to petitioner's plan of deferred...

...hold that respondent correctly determined that for 1972 the coverage classification discriminated "in favor of employees who are officers, shareholders,...the work of other employees, or highly compensated 'SEC. 7805. RULES AND REGULATIONS. employees." This violates the requirements of section 401(a)(3XB),...