Limitation on Annual Additions. This c. should be checked only if the Employer maintains another Defined Contribution Plan in which any Participant is a participant, and the Employer will not apply the rules set forth under Section 7.2 of the BPD. [Note: If this c. is checked, attach an addendum to this Agreement describing how the Employer will limit Annual Additions.]
Limitation on Annual Additions. In no event shall amounts be allocated to the Account of any Participant if, or to the extent, such amounts would exceed the limitations set forth in Appendix A to this Plan Statement.
Limitation on Annual Additions. Subject to Section 6.5, the aggregate Annual Additions to this Plan and all other defined contribution plans (including all plans or portions thereof subject to section 415(c) of the Code) maintained by all Employers and Affiliates for any Limitation Year beginning on or after January 1, 2002 shall not exceed the lesser of (a) $40,000 as adjusted pursuant to section 415(d) of the Code, or (b) 100 percent of the Member’s Earnings for such year.
Limitation on Annual Additions. Anything in this Article VII to the contrary notwithstanding, in no event shall Member Contributions made with respect to any Plan Year regarding a Member subject to the Police CBA exceed the lesser of $54,000 (as modified for cost of living adjustments under Section 415 of the Code) or one hundred percent (100%) of such Member’s compensation, as defined by Section 415(c)(3) of the Code, for the Plan Year.
Limitation on Annual Additions. (a) Notwithstanding anything in this Section 2 to the contrary, the total annual additions made to the Contract on behalf of a Participant for any year may not exceed the limits imposed by section 415 of the Code, as they may be adjusted from time to time. The limits of section 415 of the Code applicable to 403(b) annuity contracts are herein incorporated by reference.
Limitation on Annual Additions. 5.04(1) Notwithstanding any other provision of the Plan, the sum of the Annual Additions to a Participant’s Account for any Limitation Year shall not exceed the lesser of:
Limitation on Annual Additions. (a) Notwithstanding any provisions of this Plan to the contrary, the total Annual Additions credited to a Participant's Account under this Plan (and accounts under any other defined contribution plan maintained by the Employer or a Related Employer) for any Limitation Year shall not exceed the lesser of:
Limitation on Annual Additions. The amount of the Annual Addition which may be allocated under this Plan to any Participant's Account as of any Allocation Date will not exceed the Defined Contribution Limit (based upon his Aggregate Compensation up to such Valuation Date) reduced by the sum of any allocations of annual additions made to Participant's Accounts under this Plan as of any preceding Allocation Date within the Limitation Year. Such reductions shall be made in the event that an excess annual addition arises from contributions to the Plan based on estimated annual compensation, the allocation of forfeitures, a reasonable error occurs in determining the amount of elective deferrals under Code Section 402(g)(3) or under other facts and circumstances that the Commissioner finds justify the availability of relief under Treas. Reg. ss. 1.415-6(b)(6). If the Annual Addition under this Plan on behalf of a Participant is to be reduced as of any Allocation Date as a result of the next preceding paragraph, the reduction will be, to the extent required, effected by first reducing Participant contributions (which increase the annual addition), then Forfeitures (if any), and then Employer contributions to be allocated under this Plan on behalf of the Participant as of the Allocation Date. Any necessary reduction will be made as follows:
Limitation on Annual Additions a) Notwithstanding any other provision of the Plan, the sum of the annual additions to a Participant's Account(s) for any Limitation Year shall not exceed the lesser of (i) $30,000, or such other amount as may be permitted by regulations prescribed by the Secretary of the Treasury or his delegate pursuant to Section 415(d) of the Code, such adjustment to take effect in the Limitation Year which ends in the calendar year in which such adjustment is effective, or (ii) twenty-five percent (25%) of such Participant's Limitation Year Compensation (including for this purpose Compensation earned during that portion of the Limitation Year prior to the date an employee became a Participant in the Plan). The term "annual additions to a Participant's Account." for any Limitation Year, means the sum of (A) all Employer contributions allocated pursuant to Section 5.01 to such Accounts, (B) all forfeitures allocated pursuant to Section 11.03 to such Account(s), (C) all suspense account amounts, if any, allocated pursuant to Section 5.02(c) to such Account(s), and (D) any voluntary (post-tax) contributions allocated to such Account(s). For purposes of applying the dollar limitation of clause (i) above, annual additions shall also include any amount credited to an individual medical account (as defined in Section 415(l) of the Code) or on behalf of a Participant, or to a Key Employee's post-retirement medical benefit account (as referred to in Section 419A of the Code) maintained by an Employer. In the case of a Limitation Year of less than twelve (12) months' duration, the dollar limit of clause (i) above, as adjusted, shall be proportionately reduced.
Limitation on Annual Additions. If the Employer maintains or ever maintained another qualified plan in which any Participant in this plan is (or was) a Participant or could become a Participant, the Employer must complete this Section. The Employer must also complete this Section if it maintains a welfare benefit fund, as defined in Section 419(e) of the Code, or an individual medical account, as defined in Section 415(1)(2) of the Code, under which amounts are treated as Annual Additions with respect to any Participant in this Plan. If a Participant is covered under another qualified defined contribution plan maintained by the Employer, other than another regional prototype plan: [ ] The provisions of Article 8 will apply as if the other plan were a regional prototype plan. [ ] Attached is a schedule setting forth the method under which the plans will limit total annual additions to the maximum permissible amount, and will properly reduce any excess amounts, in a manner that precludes Employer discretion. If the Participant is or has ever been a Participant in a defined benefit plan maintained by the Employer, attach a schedule that assures compliance with Section 415 of the Code. NOTICE The adopting Employer may not rely on a notification letter issued by the National or District office of the Internal Revenue Service as evidence that the Plan is qualified under Section 401 of the Internal Revenue Code. In order to obtain reliance with respect to plan qualification, the Employer must apply to the appropriate key district office for a determination letter. This Adoption Agreement may be used only in conjunction with basic plan document #01. CAVEAT YOU SHOULD CONSULT WITH YOUR ATTORNEY BEFORE SIGNING THIS DOCUMENT. FAILURE TO PROPERLY COMPLETE THIS DOCUMENT MAY RESULT IN DISQUALIFICATION OF THE PLAN. THE EMPLOYER MAY NOT RELY ON AN OPINION LETTER ISSUED BY THE NATIONAL OFFICE OF THE INTERNAL REVENUE SERVICE AS EVIDENCE THAT THE PLAN IS QUALIFIED UNDER SECTION 401 OF THE INTERNAL REVENUE CODE. IN ORDER TO OBTAIN RELIANCE WITH RESPECT TO PLAN QUALIFICATION, THE EMPLOYER MUST APPLY TO THE APPROPRIATE KEY DISTRICT OFFICE FOR A DETERMINATION LETTER.
