Excess Contribution Percentage definition

Excess Contribution Percentage is the percentage of Compensation contributed for each Participant on such Participant’s Compensation in excess of the Integration Level, as specified in the Adoption Agreement.

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Excess Contribution Percentage means, for any Plan Year, the percentage of Compensation which is contributed under the Plan with respect to that portion of each Participant's Compensation in excess of the "Integration Level" (i.e., with respect to such Participant's Excess Compensation) specified in the Plan for such Plan Year.

Excess Contribution Percentage. Second, (check either (aaa) or (bbb))(percent in either (aaa) or (bbb) must not exceed the "Maximum Excess Allowance"): [ ] (aaa)[ ] (insert percent) percent, or [ ] (bbb) that percent determined by the Employer for the Plan Year of the Participant's Excess Compensation for such Plan Year shall be allocated to the Employer Account of such Participant (for purposes of this allocation, forfeitures allocated to a Participant in the Plan Year shall be treated as Employer Contributions); however, in the case of any Participant who has exceeded the cumulative permitted disparity limit described below, the Employer shall contribute for such Participant an amount equal to the "Excess Contribution Percentage" multiplied by the Participant's total Compensation for the Plan Year; and

Examples of Excess Contribution Percentage in a sentence

The Excess Contribution Percentage described in Profit Sharing Formulas 3, 4, 5 and 6 above may not exceed the lesser of (i) the Base Contribution Percentage, or (ii) the greater of (1) 5.7% or (2) the percentage equal to the portion of the Code Section 3111(a) tax imposed on employers under the Federal Insurance Contributions Act (as in effect as of the beginning of the Plan Year) which is attributable to old-age insurance.
For purposes of this subparagraph, “compensation” as defined in Section 414(s) of the Code shall be substituted for “Salary” in determining the Excess Contribution Percentage and the Base Contribution Percentage.
However, in the case of any Eligible Participant who has exceeded the Cumulative Permitted Disparity Limit, the Employer shall contribute for each Eligible Participant who either completes more than 500 Hours of Service during the Plan Year or is employed on the last day of the Plan Year an amount equal to the Excess Contribution Percentage multiplied by the Eligible Participant’s total Compensation for the Plan Year.
The Excess Contribution Percentage described in Profit Sharing Formulas 3 and 4 above may not exceed the lesser of (i) the Base Contribution Percentage, or (ii) the greater of (1) 5.7% or (2) the percentage equal to the portion of the Code Section 3111(a) tax imposed on employers under the Federal Insurance Contributions Act (as in effect as of the beginning of the Plan Year) which is attributable to old-age insurance.
For purposes of this Subparagraph, “compensation” as defined in Section 414(s) of the Code shall be substituted for “Salary” in determining the Excess Contribution Percentage and the Base Contribution Percentage.
The Excess Contribution Percentage described in Profit Sharing Formulas 3 and 4 above may not exceed the lesser of (i) the Base Contribution Percentage, or (ii) the greater of (1) 5.7% or (2) the percentage equal to the portion of the Code Section 3111 (a) tax imposed on employers under the Federal Insurance Contributions Act (as in effect as of the beginning of the Plan Year) which is attributable to old-age insurance.
For purposes of this Subparagraph, "compensation" as defined in Section 414(s) of the Code shall be substituted for "Salary" in determining the Excess Contribution Percentage and the Base Contribution Percentage.

More Definitions of Excess Contribution Percentage

Excess Contribution Percentage. Second, (check either (aaa) or (bbb))(percent in either (aaa) or (bbb) must not be less than the "Minimum Top-Heavy Rate" and must not exceed the "Maximum Excess Allowance"): [ ] (aaa)[ ] (insert percent) percent, or [ ] (bbb) that percent determined by the Employer for the Plan Year of the Participant's Excess Compensation for such Plan Year shall be allocated to the Employer Account of such Participant (for purposes of this allocation, forfeitures allocated to a Participant in the Plan Year shall be treated as Employer Contributions); however, in the case of any Participant who has exceeded the cumulative permitted disparity limit described below, the Employer shall contribute for such Participant an amount equal to the "Excess Contribution Percentage" multiplied by the Participant's total Compensation for the Plan Year; and

Excess Contribution Percentage means the greater of 5.7%; or the portion of the rate of tax under Code Section 3111(a) in effect as of the first day of the Plan Year which is attributable to old-age insurance (the "OAI rate"); provided, however, that if the Integration Level is less than one hundred percent (100%) of the Social Security Taxable Wage Base in effect as of the first day of the Plan Year, the Excess Contribution Percentage shall be defined in accordance with the following schedule:

Excess Contribution Percentage means the percentage determined by dividing

Excess Contribution Percentage means the percentage of Compensation which is contributed under the Plan with respect to that portion of each Participant's Compensation in excess of the Integration Level specified in the Adoption Agreement. (2) "Base Contribution Percentage" means the percentage of Compensation contributed under the Plan with respect to that portion of each Participant's Compensation which is not in excess of the Integration Level specified in the Adoption Agreement. (3) "Integration Level" means the amount of Compensation specified under the Plan (by dollar amount or formula) at or below which the rate at which Defined Contribution Plan and Trust Document