Common use of Return of Excess Contributions Clause in Contracts

Return of Excess Contributions. If Qualified Matching Contributions are used to satisfy the Actual Deferral Percentage Test, and, as a result of the test for a given Plan Year, there are Excess Contributions, then the distribution of the Excess Contributions shall be as follows. First, all Salary Deferral Contributions that were not matched with Qualified Matching Contributions shall be distributed, and then, if required, the Qualified Matching Contributions deemed as Salary Deferral Contributions and the remaining Salary Deferral Contributions shall be distributed pro-rata.

Return of Excess Contributions. If Qualified Matching Contributions are used to satisfy the Actual Deferral Percentage Test, and, as a result of the test for a given Plan Year, there are Excess Contributions, then the distribution of the Excess Contributions shall be as follows. First, all Salary Deferral Contributions Elective Deferrals that were not matched with Qualified Matching Contributions shall be distributeddistributed on a pro rata basis, and then, if required, the Qualified Matching Contributions deemed as Salary Deferral Contributions Elective Deferrals and the remaining Salary Deferral Contributions Elective Deferrals shall be distributed pro-rata.