Excess Deferral definition

Excess Deferral. For any taxable year, that portion of an Employee’s Elective Deferrals that exceeds the limits of Code Section 402(g).

Excess Deferral means that part, if any, of the Salary Deferral Contribution of a Member for his taxable year which, when added to the amounts he deferred under other plans or arrangements described in sections 401(k), 408(k) and 403(b) of the Code, exceeds the deferral dollar limitation permitted by section 402(g) of the Code.

Excess Deferral means the amount by which a Participant’s Before-Tax Contributions (determined without regard to the Participant’s Catch-Up Contributions) exceed the limitations of Code Section 402(g)(4), as provided in Subsection 6.03.

Examples of Excess Deferral in a sentence

• Unless the Employer’s 403(b) Plan provides a different method and date for notification of an Excess Deferral, if a Participant makes an Excess Deferral to the Custodial Account for any tax year, such Participant may give written notice to the Sponsor of the amount of the Excess Deferral no later than March 1 following the close of that tax year.

• The Sponsor and the Custodian shall not be held liable by the Participant or any other person(s), trusts or other entity for failing to determine whether an Excess Deferral or Excess Amounts was made or for failing to distribute an Excess Deferral absent the request of the Participant.

• If the Participant gives such written, timely notice to the Sponsor, the Sponsor may distribute to the Participant the amount of the Excess Deferral, together with income attributable thereto, by April 15th of the following taxable year.

• Unless otherwise agreed to in writing, neither the Sponsor nor the Custodian shall have any duty to determine whether an Excess Deferral, or contribution in excess of the limitations under Code Sections 403(b), 402(g) or 415 (“Excess Amounts”) has been made by or on behalf of the Participant.

• Neither the Sponsor nor the Custodian shall not be liable to the Participant or any other person(s), trusts or entity for taxes or other penalties incurred as a result of the Excess Deferral or Excess Amounts (including any income attributable thereto) or as a result of a distribution of an Excess Deferral and any income attributable thereto.

More Definitions of Excess Deferral

Excess Deferral means the amount deferred by a Participant on a Pre-Tax or Roth basis in excess of the dollar limit specified in Plan section 6.1.

Excess Deferral means the Elective Deferrals of any individual for any taxable year to the extent the amount of such deferrals for the taxable year exceeds the limit in subsection (b) of this Section 3.06, but excluding amounts described in Section 1105(c)(5) of the Tax Reform Act of 1986.

Excess Deferral means the aggregate amount of a Member's Salary Deferral Contributions and other elective deferral contributions described in Section A.2.2 in excess of the limitation specified in Section A.2.2, or the aggregate amount of the Member's Salary Deferral Contributions that the Member timely notifies the Committee under Section A.2.2 exceeds the limitation in section 402(g) of the Code.

Excess Deferral means any Deferred Compensation with respect to a Participant for a taxable year that exceeds the limitations on contributions set forth in Article 5.

Excess Deferral means Elective Contributions in excess of the limitation of Section 6.1.

Excess Deferral means the amount of Elective 401(k) Deferrals under this Plan in excess of the adjusted annual dollar limit of Section 3.3.1 below, or the amount of Elective 401(k) Deferrals that a Participant allocates to this Plan pursuant to the claim procedure set forth in Section 3.3.1(a).

Excess Deferral means, with respect to any Plan Year, the Elective Deferrals of a Member that are made during the Member’s taxable year and exceed the dollar limitation under Code Section 402(g) (including, if applicable, the dollar limitation as Catch-up Contributions defined in Code Section 414(v)) for such year.