Eligible automatic contribution arrangement
For purposes of this subsection, the term “eligible automatic contribution arrangement” means an arrangement under an applicable employer plan—
(A)#
under which a participant may elect to have the employer make payments as contributions under the plan on behalf of the participant, or to the participant directly in cash,
(B)#
under which the participant is treated as having elected to have the employer 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)#
which meets the requirements of paragraph (4).