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: (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 Limitation Year pursuant to this paragraph, it will not participate in the allocation of investment gains or losses.

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: (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 Agreementaccount. (c) Elective Deferrals and/or Xxxx Elective Deferrals plus the investment earnings thereon shall be returned to the Participant to the extent they would reduce the excess. Unless elected otherwise in the Adoption Agreement, Xxxx Elective Deferrals will be returned next to the extent they would reduce the excess. (d) Simultaneously with the return of the Elective Deferrals or Xxxx Elective Deferrals (plus attributable earnings), any associated Employer Matching Contribution(s) plus the investment earnings thereon that relate to the returned Elective Deferrals or Xxxx 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 account. If 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 Limitation Year pursuant to this paragraph, it will not participate in the allocation of investment gains or losses. (e) If, after the application of subparagraphs (a) through (d) an excess still exists, the excess will be held unallocated in a suspense account. If 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 Limitation Year pursuant to this paragraph, it will not participate in the allocation of investment gains or losses.

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: (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 73 existence at any time during a Limitation Year pursuant to this paragraph, it will not participate in the allocation of investment gains or losses.

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: (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 Limitation Year pursuant to this paragraph, it will not participate in the allocation of investment gains or losses.

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: (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 Limitation Year pursuant to this paragraph, it will not participate in the allocation of investment gains or losses.

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 Rxxx 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: (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 Agreementaccount. (c) Elective Deferrals and/or Rxxx Elective Deferrals plus the investment earnings thereon shall be returned to the Participant to the extent they would reduce the excess. Unless elected otherwise in the Adoption Agreement, Rxxx Elective Deferrals will be returned next to the extent they would reduce the excess. (d) Simultaneously with the return of the Elective Deferrals or Rxxx Elective Deferrals (plus attributable earnings), any associated Employer Matching Contribution(s) plus the investment earnings thereon that relate to the returned Elective Deferrals or Rxxx 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 account. If 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 Limitation Year pursuant to this paragraph, it will not participate in the allocation of investment gains or losses. (e) If, after the application of subparagraphs (a) through (d) an excess still exists, the excess will be held unallocated in a suspense account. If 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 Limitation Year pursuant to this paragraph, it will not participate in the allocation of investment gains or losses.