Common use of Disposition Of Excess Annual Additions Clause in Contracts

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:

Appears in 4 contracts

Samples: Defined Contribution Plan (Georgetown Bancorp, Inc.), Defined Contribution Plan (Idt Corp), Defined Contribution Plan (FNB United Corp.)

AutoNDA by SimpleDocs

Disposition Of Excess Annual Additions. If there is an Excess Annual Addition due to an error in estimating a Participant’s '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:

Appears in 2 contracts

Samples: Defined Contribution Plan (Thomasville Bancshares Inc), Defined Contribution Plan (Spheris Leasing LLC)

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 or Xxxx 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:following order: 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.

Appears in 2 contracts

Samples: Defined Contribution Plan (ASB Bancorp Inc), Defined Contribution Plan (Fraternity Community Bancorp Inc)

AutoNDA by SimpleDocs

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 or Xxxx 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 followsfollowing order:

Appears in 1 contract

Samples: Defined Contribution Plan (1st Constitution Bancorp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!