AMOUNT OF EXCESS AGGREGATE CONTRIBUTIONS Sample Clauses

AMOUNT OF EXCESS AGGREGATE CONTRIBUTIONS. The amount of excess contributions for a highly compensated employee will be determined in the following manner. First, the actual contribution (ACR) of the highly compensated employee with the highest ACR is reduced to the extent necessary to satisfy the actual contribution percentage (ACP) test or cause such ratio to equal the ACR of the highly compensated employee with the next highest ratio. Second, this process is repeated until the ACP test is satisfied. The amount of excess contributions for a highly compensated employee is then equal to the total of elective and other contributions taken into account for the ACP test minus the product of the employee's contribution ratio as determined above and the employee's compensation. In the case of a highly compensated employee whose actual contribution ratio (ACR) is determined under the family aggregation rules the determination of the amount of excess contribution shall be made as follows:
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Related to AMOUNT OF EXCESS AGGREGATE CONTRIBUTIONS

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