Disposition Of Excess Annual Additions. If pursuant to paragraph 10.1 or as a result of the allocation of forfeitures, there is an Excess Amount, the excess will be disposed of under one of the following methods as determined in the Adoption Agreement. If no election is made in the Adoption Agreement then method "
(a) below shall apply.
Disposition Of Excess Annual Additions. If there is an Excess Annual Addition due to an error in estimating a Participant’s Compensation for a Limitation Year under paragraph 10.1, an error in estimating the amount of Elective Deferrals of the Participant, or as a result of the allocation of forfeitures, the excess will be distributed to the affected Participant in the order which follows:
Disposition Of Excess Annual Additions. If there is an Excess Annual Addition due to an error in estimating a Participant’s Compensation for a Limitation Year under paragraph 10.1, an error in estimating the amount of Elective Deferrals of the Participant, or as a result of the allocation of forfeitures, the excess will be distributed to the affected Participant in the order which follows:
(a) Any Voluntary or Required After-tax Contributions plus the investment earnings thereon, to the extent they would reduce the excess, shall be returned to the Participant.
(b) Simultaneously, with the return of any Voluntary or Required After-tax Contributions (plus attributable earnings), any associated Employer Matching Contribution(s) plus the investment earnings thereon that relate to the returned Voluntary or Required After-tax Contributions, to the extent they would reduce the excess, will be held either unallocated in a suspense account or forfeited in accordance with the “spillover method” as elected in the Adoption Agreement.
(c) Elective Deferrals plus the investment earnings thereon shall be returned to the Participant to the extent they would reduce the excess.
(d) Simultaneously with the return of the Elective Deferrals (plus attributable earnings), any associated Employer Matching Contribution(s) plus the investment earnings thereon that relate to the returned Elective Deferrals, to the extent they would reduce the excess, will be either held unallocated in a suspense account or forfeited in accordance with the “spillover method” as elected in the Adoption Agreement.
(e) If, after the application of subparagraphs (a) through (d), an excess still exists, the excess will be held either unallocated in a suspense account or forfeited in accordance with the “spillover method” as elected in the Adoption Agreement.
(f) When the suspense account method is used, and the Participant is not covered by the Plan at the end of the Limitation Year, the Plan Administrator will apply the suspense account to reduce future Employer contributions for all remaining Participants in the next Limitation Year, and each succeeding Limitation Year until the Excess Annual Addition is eliminated. If a suspense account is in existence at any time during a Limitation Year, all amounts in the suspense account must be allocated to Participant accounts before any Employer contributions or any Employee contributions may be made to the Plan for that Limitation Year. If a suspense account is in existence at any time during a Limit...
Disposition Of Excess Annual Additions. If a Participant's Account exceeds the Annual Additions Limit for the Limitation Year, then the Plan may correct such excess in accordance with the Employee Plans Compliance Resolution System (EPCRS).
Disposition Of Excess Annual Additions. Any Excess Annual Addition as determined under Paragraph 10.1 above shall be corrected by the use of the Employee Plans Compliance Resolution System as set forth in Revenue Procedure 2008-50 (or any successor guidance), or by any other correction method permitted by law.
Disposition Of Excess Annual Additions. Any Excess Annual Addition shall be corrected by the use of the Employee Plans Compliance Resolution System (EPCRS) program for which it may be eligible.
Disposition Of Excess Annual Additions. 67 ARTICLE XX PLAN MERGERS, CONSOLIDATION AND TRANSFERS
Disposition Of Excess Annual Additions. If the limitations on annual additions contained above are exceeded for any Participant for any Plan Year, the excess annual additions will be disposed of as follows:
Disposition Of Excess Annual Additions. If the limitations on annual additions contained above are exceeded for any Participant for any Plan Year, the excess annual additions will be disposed of as follows:
(a) Contributions to the Participant's Employee Account shall be reduced and paid to the Participant as additional compensation;
(b) If, after the application of item (a), excess annual additions still exist, Company contributions (including any allocation of forfeitures) to the Participant's Company Account made on behalf of such Participant for such Plan Year shall be reduced and shall be used to reduce Company contributions due hereunder for the following Plan Year(s).
Disposition Of Excess Annual Additions. If there is an Excess Annual Addition due to an error in estimating a Participant’s Compensation for a Limitation Year under paragraph 10.1, an error in estimating the amount of Elective Deferrals of the Participant, or as a result of the allocation of forfeitures, the excess will be distributed to the affected Participant in the order which follows: Any Voluntary or Required After-tax Contributions plus the investment earnings thereon, to the extent they would reduce the excess, shall be returned to the Participant. Simultaneously, with the return of any Voluntary or Required After-tax Contributions (plus attributable earnings), any associated Employer Matching Contribution(s) plus the investment earnings thereon that relate to the returned Voluntary or Required After-tax Contributions, to the extent they would reduce the excess, will be held either unallocated in a suspense account or forfeited in accordance with the “spillover method” as elected in the Adoption Agreement.
