Excess Aggregate Contributions. The excess, with respect to any Plan Year, of: (a) the aggregate Contribution Percentage Amounts taken into account in computing the numerator of the Contribution Percentage actually made on behalf of Highly Compensated Employees for such Plan Year, over (b) the maximum Contribution Percentage Amounts permitted by the ACP test (determined hypothetically by reducing contributions made on behalf of Highly Compensated Employees in order of their Contribution Percentages beginning with the highest of such percentages). (c) Such determination shall be made after first determining Excess Elective Deferrals or Xxxx Elective Deferrals pursuant to paragraph 1.49 and then determining Excess Contributions pursuant to paragraph 1.48.
Appears in 6 contracts
Samples: Defined Contribution Plan (1st Constitution Bancorp), Defined Contribution Plan (Wellesley Bancorp, Inc.), Defined Contribution Plan (ASB Bancorp Inc)
Excess Aggregate Contributions. The excess, with respect to any Plan Year, of:
(a) the aggregate Contribution Percentage Amounts taken into account in computing the numerator of the Contribution Percentage actually made on behalf of Highly Compensated Employees for such Plan Year, over
(b) the maximum Contribution Percentage Amounts permitted by the ACP test (determined hypothetically by reducing contributions made on behalf of Highly Compensated Employees in order of their Contribution Percentages beginning with the highest of such percentages).
(c) Such determination shall be made after first determining Excess Elective Deferrals or Xxxx Elective Deferrals pursuant to paragraph 1.49 1.47 and then determining Excess Contributions pursuant to paragraph 1.481.46.
Appears in 4 contracts
Samples: 401(k) Defined Contribution Plan (Measurement Specialties Inc), Defined Contribution Plan (United Community Bancorp), Defined Contribution Plan (Century Bancorp Inc)
Excess Aggregate Contributions. The excess, with respect to any Plan Year, of:
(a) the aggregate Contribution Percentage Amounts taken into account in computing the numerator of the Contribution Percentage actually made on behalf of Highly Compensated Employees for such Plan Year, over
(b) the maximum Contribution Percentage Amounts permitted by the ACP test (determined hypothetically by reducing contributions made on behalf of Highly Compensated Employees in order of their Contribution Percentages beginning with the highest of such percentages).
(c) Such determination shall be made after first determining Excess Elective Deferrals or Xxxx Elective Deferrals pursuant to paragraph 1.49 1.42 and then determining Excess Contributions pursuant to paragraph 1.481.41.
Appears in 2 contracts
Samples: Savings and Investment Plan Document (Sterling Chemicals Inc), Adoption Agreement (Sterling Chemicals Inc)
Excess Aggregate Contributions. The excess, with respect to any Plan Year, of:
(a) the aggregate Contribution Percentage Amounts taken into account in computing the numerator of the Contribution Percentage actually made on behalf of Highly Compensated Employees for such Plan Year, over
(b) the maximum Contribution Percentage Amounts permitted by the ACP test (determined hypothetically by reducing contributions made on behalf of Highly Compensated Employees in order of their Contribution Percentages beginning with the highest of such percentages).
(c) Such determination shall be made after first determining Excess Elective Deferrals or Xxxx Elective Deferrals pursuant to paragraph 1.49 1.52 and then determining Excess Contributions pursuant to paragraph 1.481.51.
Appears in 2 contracts
Samples: Defined Contribution Plan, Defined Contribution Plan
Excess Aggregate Contributions. The excess, with respect to any Plan Year, of:
(a) the aggregate Contribution Percentage Amounts taken into account in computing the numerator of the Contribution Percentage actually made on behalf of Highly Compensated Employees for such Plan Year, over
(b) the maximum Contribution Percentage Amounts permitted by the ACP test (determined hypothetically by reducing contributions made on behalf of Highly Compensated Employees in order of their Contribution Percentages beginning with the highest of such percentages).
(c) Such determination shall be made after first determining Excess Elective Deferrals or Xxxx Rxxx Elective Deferrals pursuant to paragraph 1.49 and then determining Excess Contributions pursuant to paragraph 1.48.
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