Common use of Return of Excess 415 Contributions Clause in Contracts

Return of Excess 415 Contributions. Excess 415 Contributions shall be corrected in the method or methods as outlined in the Employer 403(b) Plan. If permitted under the Employer’s 403(b) Plan, and if as a result of a reasonable error in estimating a Participant's annual compensation, a reasonable error in determining the amount of elective deferrals under Section 402(g)(3) of the Code, or any other circumstances that the Internal Revenue Service shall determine meets the requirements of Section 415 of the Internal Revenue Code and the regulations there under, an excess annual addition occurs in any Participant's account, a distribution is permitted from this Custodial Account of such excess.

Return of Excess 415 Contributions. Excess 415 Contributions shall be corrected in the method or methods as outlined in the Employer 403(b) Plan. If permitted under the Employer’s 403(b) Plan, and if as a result of a reasonable error in estimating a Participant's ’s annual compensationcompen- sation, a reasonable error in determining the amount of elective deferrals under Section 402(g)(3) of the Code, or any other circumstances that the Internal Revenue Service shall determine meets the requirements of Section Sec- tion 415 of the Internal Revenue Code and the regulations there underthereunder, an excess annual addition occurs in any Participant's ’s account, a distribution is permitted from this Custodial Account of such excess.

Return of Excess 415 Contributions. Excess 415 Contributions shall be corrected in the method or methods as outlined in the Employer 403(b) Plan. If permitted under the Employer’s 403(b) Plan, and if as a result of a reasonable error in estimating a Participant's annual compensation, a reasonable error in determining the amount of elective deferrals under Section 402(g)(3) of the Code, or any other circumstances that the Internal Revenue Service shall determine meets the requirements of Section 415 of the Internal Revenue Code and the regulations there underthereunder, an excess annual addition occurs in any Participant's account, a distribution is permitted from this Custodial Account of such excess.