Deferral Limit definition

Deferral Limit means the dollar limitation on employee salary deferral contributions in effect under Section 402(g) of the Code with respect to a Plan Year or any limits established by the Plan including limits on includible compensation or amounts that can be allocated.

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Deferral Limit means, for any given calendar year, the maximum amount which any person eligible to participate in the Director Plan during the immediately preceding calendar year could elect to defer under that plan for such preceding year.

Deferral Limit means the dollar limitation on employee salary deferral contributions in effect under Section 401(a)(17) of the Code with respect to a Plan Year and any other applicable limits on includible compensation or amounts that can be allocated.

Examples of Deferral Limit in a sentence

Notwithstanding the foregoing, an Employee under a 401(k) Plan may make Elective Deferrals with respect to Compensation which exceeds the Plan Year Compensation limitation, provided such Elective Deferrals otherwise satisfy the Elective Deferral Limit and other applicable Plan limitations.
Contributions under this Section 3.11 are Annual Additions and are tested under Section 4.10(A) (Elective Deferral Limit) in the year to which such contributions are allocated, but not in the year in which such contributions are made.
A Catch-Up Deferral is an Elective Deferral by a Catch-up Eligible Participant and which exceeds: (a) a Plan limit on Elective Deferrals under Section 3.02(A); (b) the Annual Additions Limit under Section 4.05(B); (c) the Elective Deferral Limit under Section 4.10(A); or (d) the ADP Limit under Section 4.10(B).
A Participant's Elective Deferrals for a Taxable Year may not exceed the Elective Deferral Limit.
However, a Participant may not make Elective Deferrals in the event that the Participant is suspended from doing so under Section 6.07(A)(2), relating to hardship distributions or to the extent that the allocation would exceed a Participant's Annual Additions Limit in Section 4.05(B) or the maximum Deferral Limit in Section 4.10(A).
A Participant's Excess Deferral is the amount of Elective Deferrals for a Taxable Year which exceeds the Elective Deferral Limit.
The Elective Deferral Limit is the Code §402(g) limitation on each Participant's Elective Deferrals for each Taxable Year.
If the Plan Administrator determines a Participant's Elective Deferrals already contributed to the Plan for a Taxable Year exceed the Elective Deferral Limit, the Plan Administrator will distribute the Excess Deferrals as adjusted for Allocable Income, no later than April 15 of the following Taxable Year (or if later, the date permitted under Code §§7503 or 7508A).
Contributions by an Employer for a Section 401(k) Member as provided in Section 3.1, based on the amount by which such Section 401(k) Member elects to reduce his Compensation otherwise payable in cash (which contributions may not exceed the Elective Deferral Limit).
If a Participant has Excess Deferrals because of making Elective Deferrals to this Plan and other plans of the Employer (but where the Elective Deferral Limit is not exceeded based on Deferrals to any single plan), the Participant for purposes of this Section 4.10(A)(9) is deemed to have notified the Plan Administrator of this Plan of the Excess Deferrals.

More Definitions of Deferral Limit

Deferral Limit means 50 per cent. of the aggregate principal amount of IT1CS issue under the IT1CS Programme.

Deferral Limit means the limit set forth in Section 1081(d)(7)(A) of the PR Code.

Deferral Limit means, subject to Section 13(i)(i)(a), the agreement of Distributor to permit Deferrals by XM so long as the aggregate principal amount of such Deferrals outstanding at any time does not exceed $100,000,000 less any amounts then outstanding under the GM Credit Facility.

Deferral Limit means the lesser of the limit set forth in Section -------------- 402(g) of the Code and the limit set forth in Section 1165(e)(7)(A) of the I.R.C.

Deferral Limit means the agreement of Distributor to permit Deferrals by XM so long as the aggregate principal amount of such Deferrals outstanding at any time does not exceed $150,000,000 less any amounts then outstanding under the GM Credit Facility; provided however, that for so long as at least $75,000,000 aggregate principal amount of XM’s 10% Senior Secured Discount Convertible Notes due 2009 remains outstanding, the maximum aggregate principal amount of Deferrals outstanding at any time shall be $37,500,000 less any amounts then outstanding under the GM Credit Facility.