Common use of Distribution of Excess Deferrals Clause in Contracts

Distribution of Excess Deferrals. Notwithstanding any provision of the Custodial Agreement, to the contrary, if the Participant assigns any excess deferrals to the Account in accordance with the procedures described in (b) above or if the Plan Administrator determines that the Participant has made excess deferrals to the Account on the basis of the Participant’s total contributions to the Account and all other plans of the Employer, the Participant or Plan Administrator may provide instructions to the Master Custodial Administration Agreement Administrator, who shall instruct the Custodian to distribute the amount of such excess deferrals, adjusted for any income or loss allocable thereto. If the Master Custodial Administration Agreement Administrator receives timely written notification of the excess deferral, the amount of such excess deferral, adjusted for any income or loss allocable thereto, shall be distributed to the Participant no later than the first April 15 following the close of the taxable year in accordance with the procedures of Section 402(g)(2)(A) of the Code and the regulations thereunder.

Distribution of Excess Deferrals. Notwithstanding any provision of the Custodial Agreement, Agreement to the contrary, if the Participant assigns any excess deferrals to the Account in accordance with the procedures described in (b) above or if the Plan Administrator determines that the Participant has made excess deferrals to the Account on the basis of the Participant’s total contributions to the Account and all other plans of the Employer, the Participant or Plan Administrator may provide instructions to the Master Custodial Administration Agreement Administrator, who shall instruct the Custodian to distribute the amount of such excess deferrals, adjusted for any income or loss allocable thereto. If the Master Custodial Administration Agreement Administrator receives timely written notification of the excess deferral, the amount of such excess deferral, adjusted for any income or loss allocable thereto, shall be distributed to the Participant no later than the first April 15 following the close of the taxable year in accordance with the procedures of Section 402(g)(2)(A457(b) of the Code and the regulations thereunder.