Excess Deferral Contributions definition

Excess Deferral Contributions means the amount of Elective Employer Contributions on behalf of a Highly Compensated Employee referred to in Code Section 401(k)(8)(B).
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Excess Deferral Contributions means the amount of Deferral Contributions for a Plan Year which must be eliminated in order for the restrictions of subparagraph 1.2(a) of this Appendix to be satisfied for the Plan Year.
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Excess Deferral Contributions means the amount of Elective Employer Contributions and/or Roth Contributions of a Highly Compensated Employee referred to in Code Section 401(k)(8)(B).
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Examples of Excess Deferral Contributions in a sentence

  • The Excess Deferral Contributions which would otherwise be distributed to the Participant shall be adjusted for income; shall be reduced, in accordance with regulations, by the Excess Deferral Amount distributed to the Participant; and shall, if there is a loss allocable to the Excess Deferral Contributions, in no event be less than the lesser of the Participant's Account under the Plan attributable to Elective Employer Contributions or the Participant's Elective Employer Contributions for the Plan Year.

  • Excess Deferral Contributions to be distributed shall be adjusted for any income or loss through the last day of the Plan Year or the date of distribution, as determined by the Committee.

  • The determination is made after returning any excess Elective Deferrals as described in Section 1.01 and any Excess Deferral Contributions as described in Section 1.02.

  • If, after the end of the Plan Year, the Plan does not satisfy the Deferral Percentage test, the Excess Deferral Contributions, and any income or loss attributable to such amount, will be distributed to the Highly Compensated Employees, starting with the Highly Compensated Employee with the greatest dollar amount of Salary Deferral Contributions and continuing in descending order.

  • Excess Deferral Contributions to be distributed shall be adjusted for any income or loss through the end of the current Plan Year (subject to Section 4.5(b)(3) below) pursuant to the method of allocating income determined by the Administrative Committee.

  • Distributions of Excess Deferral Contributions and Excess Contribution Amounts will be adjusted for income and loss using any reasonable method for allocating income to Participants' Accounts during the Plan Year.

  • But the Pledgee, without the consent of the Pledgor or the Company, may transfer the rights, obligations or responsibilities under this Agreement to any third party after the Pledgee is notified of the Pledgor and the Company.

  • For this purpose, recharacterization is deemed to occur on the date on which the last of those Highly Compensated Employees with Excess Deferral Contributions to be recharacterized is notified of the recharacterization in any manner prescribed by the Secretary of the Treasury or his delegate.

  • Excess Deferral Contributions for a Plan Year will be distributed no later than the last day of the Plan Year immediately following the Plan Year for which the contributions were made.

  • If such Excess Deferral Contributions are distributed more than two and one-half months after the last day of the Plan Year in which such excess amounts arose, a 10% excise tax will be imposed on the Employer maintaining the Plan with respect to such amounts.


More Definitions of Excess Deferral Contributions

Excess Deferral Contributions means, with respect to each Highly Compensated Employee, the amount equal to total Employee Deferrals on behalf of the Employee (determined prior to the application of the leveling procedure described below) minus the product of the Employee's Actual Deferral Percentage (determined after application of Section 12.10 and after the leveling procedure described below) multiplied by the Employee's Compensation. In accordance with the regulations issued under Section 401(k) of the Code, Excess Deferral Contributions shall be determined by a leveling procedure under which the Actual Deferral Percentage of the Highly Compensated Employee with the highest such percentage shall be reduced to the extent required to enable the limitation of Section 12.10(a) to be satisfied, or, if it results in a lower reduction, to the extent required to cause such Highly Compensated Employee's Actual Deferral Percentage to equal the Actual Deferral Percentage of the Highly Compensated Employee with the next highest Actual Deferral Percentage. This leveling procedure shall be repeated until the limitations of Section 12.10(a) are satisfied. Once the leveling procedure has been completed, the total dollar amounts of Excess Deferral Contributions shall be determined . This amount shall be distributed in accordance with a distribution procedure under which the dollar amount of Employee Deferrals of the Highly Compensated Employee with the highest dollar amount of Employee Deferrals shall be reduced to the extent required to distribute the total amount of Excess Deferral Contributions or, if it results in a lower reduction, to the extent required to cause such Highly Compensated Employee's dollar amount of Employee Deferrals to equal the dollar amount of Employee Deferrals of the Highly Compensated Employee with the next highest dollar amount of Employee Deferrals. This distribution procedure shall be repeated until all Excess Deferral Contributions have been distributed.
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Excess Deferral Contributions means the amount of Deferral Contributions for a Plan Year which must be eliminated in order for the restrictions of subparagraph 21.2(a) to be satisfied for the Plan Year. The amount is the excess of:
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Excess Deferral Contributions means the amount of Elective Employer Contributions on behalf of a Highly Compensated Employee in excess of the maximum permitted under Section 4.5(a) as determined pursuant to Section 4.5(b).
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Excess Deferral Contributions means, with respect to any Plan Year, the excess of: (a) the aggregate amount of Elective Deferral Contributions actually taken into account in computing the ADP of Highly Compensated Employees for such Plan Year, over (b) the maximum amount of such contributions permitted by the ADP test (determined by reducing contributions made on behalf of Highly Compensated Employees in order of their ADPs, beginning with the highest of such percentages).
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Excess Deferral Contributions means the excess of the aggregate contributions actually paid over to the Trust on behalf of a Participant and taken into account in determining the Actual Deferral Percentage of Highly Compensated Employees for any Plan Year over the maximum amount of such contributions permitted under Sections 2.02 and 6.04. The amount of Excess Deferral Contribution to be distributed with respect to a Participant for a Plan Year shall be reduced by any Excess Deferral Amount previously distributed for such Participant for the Plan Year.
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Excess Deferral Contributions means, with respect to any Plan Year, the excess of: (A) The aggregate amount of Elective Deferral Contributions actually taken into account in computing the ADP of Highly Compensated Employees for such Plan Year, over
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Related to Excess Deferral Contributions

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Excess Deferrals means, with respect to any taxable year of a Participant, either (a) those elective deferrals within the meaning of Code §§402(g) or 402A that are made during the Participant's taxable year and exceed the dollar limitation under Code §402(g) (including, if applicable, the dollar limitation on Catch-Up Contributions defined in Code §414(v)) for such year; or (b) are made during a calendar year and exceed the dollar limitation under Code §§402(g) and 402A (including, if applicable, the dollar limitation on Catch-Up Contributions defined in Code §414(v)) for the Participant's taxable year beginning in such calendar year, counting only Elective Deferrals made under this Plan and any other plan, contract or arrangement maintained by the Employer.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Matching Contributions means local cash and/or in-kind contributions made by the Subrecipient, subcontractor, or other local resources that qualify as match for the Contract funding.

  • Elective Deferrals mean Compensation and Elective Deferrals for: . [Note: The Employer must complete the blank line with the applicable time period for computing the Basic Match, such as "each payroll period," "each calendar month," "each Plan Year quarter" or "the Plan Year."]

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Employer Contributions means the amount transferred by an employer to a funding account or a health reimbursement account.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Excess Contribution With respect to any Plan Year, the excess of: (a) the aggregate amount of Employer contributions actually taken into account in computing the ADP of Highly Compensated Employees for such Plan Year, over (b) the maximum amount of such contributions permitted by the ADP Test (determined by hypothetically reducing contributions made on behalf of Highly Compensated Employees in order of the ADPs, beginning with the highest of such percentages).

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Matching Contribution means an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of a Participant's Deferral Contribution.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Elective Contributions are amounts excludible from the Employee's gross income under Code Sections 125, 402(a)(8), 402(h) or 403(b), and contributed by the Employer, at the Employee's election, to a Code Section 401(k) arrangement, a Simplified Employee Pension, cafeteria plan or tax-sheltered annuity. The term "Compensation" does not include:

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.

  • Participant Contributions means contributions made by the Participant pursuant to an executed Pay Reduction Agreement subject to the Participant Contribution limits contained in Article III.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Plan Year means the calendar year.

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • Election Year means a year in which ordinary elections for local governments are required to be held;

  • Nonelective Contribution means an amount contributed by a participating