SPECIAL ELECTION II Sample Clauses

SPECIAL ELECTION II. This election may be made for any year. Under Special Election II, the maximum amount of contributions that may be made to your 403(b) plan will be the LEAST of: (1) 25% of your "includable compensation" for your most recent year of service with your employer (i.e., Worksheet #1, limitation (B), line (4)) plus $4,000; (2) your exclusion allowance limitation for the year; or (3) $15,000