Common use of Limitations on Annual Additions for Employers or Affiliated Companies Maintaining Other Defined Contribution Plans Clause in Contracts

Limitations on Annual Additions for Employers or Affiliated Companies Maintaining Other Defined Contribution Plans. In the event that any Participant in this Plan is also a participant under any other Defined Contribution Plan maintained by an Employer or an Affiliated Company (whether or not terminated), the total amount of Annual Additions to such Participant’s accounts under all such Defined Contribution Plans shall not exceed the limitations set forth in Subsection 5.04(1) hereof. If such total amount of Annual Additions to a Participant’s accounts under all such Defined Contribution Plans does exceed the limitations set forth in Subsection 5.04(1) hereof, then the Annual Additions to such Participant’s Accounts in this Plan shall be reduced, and such reduction shall be accomplished in accordance with the provisions of Section 5.04 hereof.

Appears in 2 contracts

Samples: Xcel Energy Inc, Southwestern Public Service Co

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Limitations on Annual Additions for Employers or Affiliated Companies Maintaining Other Defined Contribution Plans. In the event that any Participant in this Plan is also a participant under any other Defined Contribution Plan maintained by an Employer or an Affiliated Company (whether or not terminated)Company, the total amount of Annual Additions to such Participant’s accounts under all such Defined Contribution Plans shall not exceed the limitations set forth in Subsection 5.04(1) hereof5.06(1). If such total amount of Annual Additions to a each Participant’s accounts Accounts under all such Defined Contribution Plans does exceed the limitations set forth in Subsection 5.04(1) hereof5.06(1), then the Annual Additions to such a Participant’s Accounts Account in this the Plan shall be reduced after contributions to all other qualified plans of the Company are reduced, and such reduction shall be accomplished in accordance with the provisions of Section 5.04 hereof.

Appears in 1 contract

Samples: Clubcorp Employee Stock Ownership Plan (Clubcorp Inc)

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Limitations on Annual Additions for Employers or Affiliated Companies Maintaining Other Defined Contribution Plans. In the event that any Participant in this Plan is also a participant under any other Defined Contribution Plan maintained by an Employer or an Affiliated Company (whether or not terminated)Company, the total amount of Annual Additions to such Participant’s 's accounts under all such Defined Contribution Plans shall not exceed the limitations set forth in Subsection 5.04(1) hereofSUBSECTION 5.06(1). If such total amount of Annual Additions to a each Participant’s accounts 's Accounts under all such Defined Contribution Plans does exceed the limitations set forth in Subsection 5.04(1) hereofSUBSECTION 5.06(1), then the Annual Additions to such a Participant’s Accounts 's Account in this the Plan shall be reduced after contributions to all other qualified plans of the Company are reduced, and such reduction shall be accomplished in accordance with the provisions of Section 5.04 hereof.

Appears in 1 contract

Samples: Clubcorp Employee Stock Ownership Plan (Club Corp International)

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