Common use of Aggregation Clause in Contracts

Aggregation. The limitations under Code Section 402(g) as provided for in the subsection (b) and the last sentence of subsection (a) will be determined taking into account any other amounts contributed during such calendar year by the Employee through a salary reduction election under any other arrangement that is subject to the limitations of Code Section 402(g) and/or Code Section 414(v). Except as otherwise required under Code Section 415 including regulations thereunder, the limit on annual additions for a limitation year shall not be aggregated with contributions to a qualified plan of the Employee’s Employer. However, in no event can the amount of an Employee’s salary reduction contributions for a year be more than the Employee’s includible compensation (as defined in Code Section 403(b)) for the year.

Aggregation. The limitations under Code Section 402(g) as provided for in the subsection (b) and the last sentence of subsection (a) will be determined taking into account any other amounts contributed during such calendar year by the Employee through a salary reduction election under any other arrangement that is subject to the limitations of Code Section 402(g) and/or or Code Section 414(v). Except as otherwise required under Code Section 415 including regulations thereunder, the limit on annual additions for a limitation year shall not be aggregated with contributions to a qualified plan of the Employee’s Employer. However, in no event can the amount of an Employee’s salary reduction contributions for a year be more than the Employee’s includible compensation (as defined in Code Section 403(b)) for the year.