Common use of Refunds When Contribution Dollar Limit Exceeded Clause in Contracts

Refunds When Contribution Dollar Limit Exceeded. A Participant who makes Associate Pre-Tax Contributions for a calendar year to the Plan and comparable contributions to any other qualified defined contribution plan in excess of the Contribution Dollar Limit may notify the Administrator in writing by the following March 1 (or as late as April 14 if allowed by the Administrator) that an excess has occurred. In this event, the amount of the excess specified by the Participant, adjusted for investment gain or loss, shall be refunded to him or her by the April 15 following the year of deferral and shall not be included as an Annual Addition (as defined in Section 13.1) under Code section 415 for the year contributed. The excess amounts shall first be taken from unmatched Associate Pre-Tax Contributions and then from matched Associate Pre-Tax Contributions. Any Company Match Contributions attributable to refunded excess Associate Pre-Tax Contributions as described in this Section, adjusted for investment gain or loss, shall be forfeited and used as described in Section 8. Refunds and forfeitures shall not include investment gain or loss for the period between the end of the applicable calendar year and the date of distribution or forfeiture.

Refunds When Contribution Dollar Limit Exceeded. A Participant who makes Associate Pre-Tax Contributions for a calendar year to the Plan and comparable contributions to any other qualified defined contribution plan in excess of the Contribution Dollar Limit may notify the Administrator in writing by the following March 1 (or as late as April 14 if allowed by the Administrator) that an excess has occurred. In this event, the amount of the excess specified by the Participant, adjusted for investment gain or loss, shall be refunded to him or her by the April 15 following the year of deferral and shall not be included as an Annual Addition (as defined in Section 13.1) under Code section 415 for the year contributed. The excess amounts shall first be taken from unmatched Associate Pre-Tax Contributions and then from matched Associate Pre-Tax Contributions. Any Company Match MailCoups Matching Contributions attributable to refunded excess Associate Pre-Tax Contributions as described in this Section, adjusted for investment gain or loss, shall be forfeited and used as described in Section 8. Refunds and forfeitures shall not include investment gain or loss for the period between the end of the applicable calendar year and the date of distribution or forfeiture.

Refunds When Contribution Dollar Limit Exceeded. A Participant who makes Associate Employee Pre-Tax Contributions for a calendar year to the Plan and comparable contributions to any other qualified defined contribution plan in excess of the Contribution Dollar Limit may notify the Administrator in writing by the following March 1 (or 1(or as late as April 14 if allowed by the Administrator) that an excess has occurred. In in this event, the amount of the excess specified by the Participant, adjusted for investment gain or loss, shall be refunded to him or her by the April 15 following the year of deferral and shall not be included as an Annual Addition (as defined in Section 13.1) under Code section 415 for the year contributed. The excess amounts shall first be taken from unmatched Associate Employee Pre-Tax Contributions and then from matched Associate Employee Pre-Tax Contributions. Any Company Match Employer Contributions attributable to refunded excess Associate Pre-Employee Pre- Tax Contributions as described in this Section, adjusted for investment gain or loss, shall be forfeited and used to reduce future Contributions to be made by an Employer as described in Section 8soon as administratively feasible. Refunds and forfeitures shall not include investment gain or loss for the period between the end of the applicable calendar year and the date of distribution or forfeituredistribution.

Refunds When Contribution Dollar Limit Exceeded. A Participant who makes Associate Pre-Tax Contributions for a calendar year to the Plan and comparable contributions to any other qualified defined contribution plan in excess of the Contribution Dollar Limit may notify the Administrator in writing by the following March 1 (or as late as April 14 if allowed by the Administrator) that an excess has occurred. In this event, the amount of the excess specified by the Participant, adjusted for investment gain or loss, shall be refunded to him or her by the April 15 following the year of deferral and shall not be included as an Annual Addition (as defined in Section 13.1) under Code section 415 for the year contributed. The excess amounts shall first be taken from unmatched Associate Pre-Tax Contributions and then from matched Associate Pre-Tax Contributions. Any Company Match Contributions attributable to refunded excess Associate Pre-Tax Contributions as described in this Section, adjusted for investment gain or loss, shall be forfeited and used as described in Section 8. Refunds and forfeitures shall not include investment gain or loss for the period between the end of the applicable calendar year and the date of distribution or forfeiture.