Definition of Elective Deferral Limit. The Elective Deferral Limit is the Code §402(g) limitation on each Participant's Elective Deferrals for each Taxable Year. If the Participant's Taxable Year is not a calendar year, the Plan Administrator must apply the Code §402(g) limitation in effect for the calendar year in which the Participant's Taxable Year begins.
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Sources: Defined Contribution Pre Approved Plan (J&j Snack Foods Corp), Defined Contribution Prototype Plan and Trust Agreement (Bob Evans Farms Inc), 401(k) Profit Sharing Plan (Nci Building Systems Inc)
Definition of Elective Deferral Limit. The Elective Deferral Limit is the Code §402(g) limitation on each Participant's ’s Elective Deferrals for each Taxable Year. Year If the Participant's ’s Taxable Year is not a calendar year, the Plan Administrator must apply the Code §402(g) limitation in effect for the calendar year in which the Participant's ’s Taxable Year begins.
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