Inclusion Of Ineligible Employee. If in any Plan Year, any person who should not have been included as a Participant in the Plan is erroneously included and discovery of such incorrect inclusion is not made until after a contribution for the year has been made, the Employer shall not be entitled to recover the contribution made with respect to the ineligible person regardless of whether or not a deduction is allowable with respect to such contribution. In such event, the amount contributed with respect to the ineligible person shall be removed from the ineligible Employee's Account and treated as a forfeiture.
Inclusion Of Ineligible Employee. If, in any Plan Year, any person who should not have been included as a Participant in the Plan is erroneously included, the Employer shall make any such correction regarding the Employee’s eligibility under one of the IRS approved correction programs.
Inclusion Of Ineligible Employee. If, in any Plan Year, any person who should not have been included as a Participant in the Plan is erroneously included and discovery of such incorrect inclusion is not made until after a contribution for the Plan Year has been made, the Employer shall not be entitled to recover the contribution made with respect to the ineligible individual regardless of the deductibility of the contribution in question. The contribution and any earnings made with respect to the ineligible person shall be forfeited in the Plan Year in which the discovery is made. If any person made Elective Deferrals erroneously, the Elective Deferrals and the associated earnings shall be distributed to that individual in the Plan Year in which the discovery was made. Alternatively, the Employer may determine if an alternative correction method may be available and use said method to make the correction.
Inclusion Of Ineligible Employee. If, in any Plan Year, any person who should not have been included as a Participant in the Plan is erroneously included and discovery of such incorrect inclusion is not made until after a contribution for the year has been made, the Employer shall not be entitled to recover the contribution made with respect to the ineligible person regardless of whether or not a deduction is allowable with respect to such contribution. In such event, the amount contributed with respect to the ineligible person shall constitute a Forfeiture (except for Deferred Compensation which shall be distributed to the ineligible person) for the Plan Year in which the discovery is made.
Inclusion Of Ineligible Employee. If, in any Plan Year, any person who should not have been included as a Participant in the Plan is erroneously included and discovery of such inclusion is not made until after a contribution for the year has been made and allocated, the Employer shall be entitled to recover the contribution made with respect to the ineligible person provided the error is discovered within twelve (12) months of the date on which it was made. Otherwise, the amount contributed with respect to the ineligible person shall constitute a Forfeiture for the Plan Year in which the discovery is made. Notwithstanding the forgoing, any Elective Deferrals made by an ineligible person shall be distributed to the person (along with any earnings attributable to such Elective Deferrals).
Inclusion Of Ineligible Employee. If, in any Plan Year, any person who should not have been included as a Participant in the Plan is erroneously included and the discovery of such incorrect inclusion is not made until after one or more Contributions for the Plan Year have been made with respect to such person, any such Plan Sponsor Contributions will constitute a mistake of fact for the Plan Year in which the Contribution is made and will be returned to the Plan Sponsor (adjusted for any gains or losses) if it qualifies under Section 12.3(c). Any erroneous Contributions that are Before-Tax Contributions, Xxxx Contributions, or Catch-Up Contributions will be returned (adjusted for any gains or losses) promptly by the Administrator to the Plan Sponsor, and from there to the person from whose compensation they were withheld. If the erroneous Contributions are Plan Sponsor Contributions that do not qualify under Section 12.3(c), they will be forfeited to a forfeiture Account in the name of the Plan Sponsor to be used to offset future Contributions from the Plan Sponsor to the extent permitted by the Plan and applicable regulations or otherwise used by the Administrator to defray administrative expenses of the Plan.
Inclusion Of Ineligible Employee. If, in any Plan Year, any person who should not have been included as a Participant in the Plan is erroneously included, the Employer shall make any such correction regarding the Employee’s eligibility in accordance with the requirements of the appropriate Employee Plans Compliance Resolution System (EPCRS) program.
Inclusion Of Ineligible Employee. If, in any Plan Year, any person who should not have been included as a Participant in the Plan is erroneously included, and discovery of that incorrect inclusion is not made until after a contribution for the year has been made, and such ineligible Employee has not received a distribution of the amount erroneously allocated to him or her, the Employer will not be entitled to recover the contribution made with respect to the ineligible person, but the amount erroneously contributed will be applied as a forfeiture (except for elective deferrals in the case of a Code Section 40l(k) plan which will be distributed to the ineligible Employee) for the Plan Year in which the error is discovered.
Inclusion Of Ineligible Employee. If, in any Plan Year, any Employee who should not have been included as a Participant in the Plan is erroneously included, and discovery of the inclusion is not made until after a contribution by the Employer for the Plan Year has been made, the Employer will not be entitled to recover the contribution made with respect to the ineligible Employee whether or not a deduction is allowable with respect to the contribution. The amount contributed with respect to the ineligible Employee will be treated as though it were an excess Annual Addition and either returned to the ineligible Employee or reallocated among the Accounts of Participants entitled to a contribution for the Plan Year in which the erroneous error is discovered, in the manner described at Section 11.03.
Inclusion Of Ineligible Employee. 27 ARTICLE III: CONTRIBUTIONS AND ALLOCATIONS
