Limitation Year definition

Limitation Year means the Plan Year.

Limitation Year means the calendar year.

Limitation Year means the year used in applying the limitations of Section 415 of the Internal Revenue Code of 1986, which year shall be the calendar year.

Examples of Limitation Year in a sentence

• The amount of Annual Additions which the Plan Administration Committee may allocate under this Plan on a Participant’s behalf for a Limitation Year shall not exceed the Maximum Permissible Amount.

• Subsection (a) does not apply for any Limitation Year beginning after December 31, 1999.

• Prior to the determination of a Participant’s actual Compensation for a Limitation Year, the Plan Administration Committee may determine the Maximum Permissible Amount on the basis of a Participant’s estimated annual Compensation for such Limitation Year.

• If the amount the Employer otherwise would contribute to a Participant’s Account would cause the Annual Additions for the Limitation Year to exceed the Maximum Permissible Amount, the Employer will reduce the amount of its contributions so the Annual Additions for the Limitation Year will equal the Maximum Permissible Amount.

• As soon as is administratively feasible after the end of the Limitation Year, the Plan Administration Committee shall determine the Maximum Permissible Amount for the Limitation Year on the basis of a Participant’s actual Compensation for the Limitation Year.

More Definitions of Limitation Year

Limitation Year means the "determination period" used to determine Compensation. However, the Employer may elect a different Limitation Year in Appendix A to the Adoption Agreement (Special Effective Dates and Other Permitted Elections). All qualified plans maintained by the Employer must use the same Limitation Year. Furthermore, unless there is a change to a new Limitation Year, the Limitation Year will be a twelve (12) consecutive month period. In the case of an initial Limitation Year, the Limitation Year will be the twelve (12) consecutive month period ending on the last day of the period specified in the Adoption Agreement. If the Limitation Year is amended to a different twelve (12) consecutive month period, the new "Limitation Year" must begin on a date within the "Limitation Year" in which the amendment is made. The Limitation Year may only be changed by a Plan amendment. Furthermore, if the Plan is terminated effective as of a date other than the last day of the Plan's Limitation Year, then the Plan is treated as if the Plan had been amended to change its Limitation Year.

Limitation Year means the year used in applying the

Limitation Year. The period selected by the Employer under Adoption Agreement Section 1.17. All qualified plans of the Employer must use the same Limitation Year. If the Employer amends the Limitation Year to a different 12 consecutive month period, the new Limitation Year must begin on a date within the Limitation Year for which the Employer makes the amendment, creating a short Limitation Year.

Limitation Year means a calendar year.

Limitation Year means the calendar year, unless another twelve (12) consecutive month period is elected in the Adoption Agreement. All qualified plans maintained by the Employer must use the same Limitation Year. If the Limitation Year is changed by amendment, the new Limitation Year must begin on a date within the Limitation Year in which the amendment is made.

Limitation Year means the Plan Year. All qualified plans maintained by any Affiliated Employer must use the same Limitation Year. If the Limitation Year is amended to a different 12-consecutive month period, the new Limitation Year must begin on a date within the Limitation Year in which the amendment is made.

Limitation Year means the 12-consecutive-month period used by a Qualified Plan for purposes of computing the limitations on benefits and annual additions under Code section 415. The Limitation Year for this Plan is the Plan Year.