Spillover Method. (1) Any nondeductible Employee Voluntary, Required Voluntary Contributions and unmatched Elective Deferrals to the extent they would reduce the Excess Amount will be returned to the Participant. To the extent necessary to reduce the Excess Amount, non-Highly Compensated Employees will have all Elective Deferrals returned whether or not there was a corresponding match.
Appears in 4 contracts
Samples: First Keystone Corp, Westfield Financial Inc, Berkshire Hills Bancorp Inc
Spillover Method. (1) Any nondeductible Employee Voluntary, Required Voluntary Contributions and unmatched Elective Deferrals to the extent they would reduce the Excess Amount will be returned to the Participant. To the extent necessary to reduce the Excess Amount, non-non Highly Compensated Employees will have all Elective Deferrals returned whether or not there was a corresponding match.
Appears in 1 contract
Samples: First Keystone Corp
Spillover Method. (1) Any nondeductible Employee Voluntary, Required Voluntary Contributions and unmatched Elective Deferrals Deferrals, to the extent they would reduce the Excess Amount Amount, will be returned to the Participant. To the extent necessary to reduce the Excess Amount, non-Highly Compensated Employees will have all Elective 77 Deferrals returned whether or not there was a corresponding match.
Appears in 1 contract
