ANNUAL ELECTIVE DEFERRAL LIMITATION. An Employee's elective deferrals for a calendar year beginning after December 31, 1986, may not exceed the 402(g) limitation. The 402(g) limitation is the greater of $7,000 or the adjusted amount determined by the Secretary of the Treasury. If, pursuant to a salary reduction agreement or pursuant to a cash or deferral election, the Employer determines the Employee's elective deferrals to the Plan for a calendar year would exceed the 402(g) limitation, the Employer will suspend the Employee's salary reduction agreement, if any, until the following January 1 and pay in cash the portion of a cash or deferral election which would result in the Employee's elective deferrals for the calendar year exceeding the 402(g) limitation. If the Advisory Committee determines an Employee's elective deferrals already contributed to the Plan for a calendar year exceed the 402(g) limitation, the Advisory Committee will distribute the amount in excess of the 402(g) limitation (the "excess deferral"), as adjusted for allocable income, no later than April 15 of the following calendar year. If the Advisory Committee distributes the excess deferral by the appropriate April 15, it may make the distribution irrespective of any other provision under this Plan or under the Code. The Advisory Committee will reduce the amount of excess deferrals for a calendar year distributable to the Employee by the amount of excess contributions (as determined in Section 14.08), if any, previously distributed to the Employee for the Plan Year beginning in that calendar year. If an Employee participates in another plan under which he makes elective deferrals pursuant to a Code Section 401(k) arrangement, elective deferrals under a Simplified Employee Pension, or salary reduction contributions to a tax-sheltered annuity, irrespective of whether the Employer maintains the other plan, he may provide the Advisory Committee a written claim for excess deferrals made for a calendar year. The Employee must submit the claim no later than the March 1 following the close of the particular calendar year and the claim must specify the amount of the Employee's elective deferrals under this Plan which are excess deferrals. If the Advisory Committee receives a timely claim, it will distribute the excess deferral (as adjusted for allocable income) the Employee has assigned to this Plan, in accordance with the distribution procedure described in the immediately preceding paragraph.
ANNUAL ELECTIVE DEFERRAL LIMITATION. 14.05 14.08 Actual Deferral Percentage ("ADP") Test........................14.06 14.09 Nondiscrimination Rules for Employer Matching Contributions/ Participant Nondeductible Contributions........................14.07 14.10
ANNUAL ELECTIVE DEFERRAL LIMITATION. A Participant's Elective Deferrals for a Taxable Year may not exceed the Elective Deferral Limit.
ANNUAL ELECTIVE DEFERRAL LIMITATION. 14.08 Actual Deferral Percentage ("ADP") Test . . . . . . . 14.09 Nondiscrimination Rules for Employer Matching Contributions . . . . . . . . . . . . . . . . . . . . 14.10
ANNUAL ELECTIVE DEFERRAL LIMITATION. 71 14.08 Actual Deferral Percentage ("ADP") Test....................................72
ANNUAL ELECTIVE DEFERRAL LIMITATION. An Employee's elective deferrals for a calendar year beginning after December 31, 1986, may not exceed the 402(g) limitation. The 402(g) limitation is the greater of $7,000 or the adjusted amount determined by the Secretary of the Treasury. If, pursuant to a salary reduction agreement or pursuant to a cash or deferral election, the Employer determines the Employee's elective deferrals to the Plan for a calendar year would exceed the 402(g) limitation, the Employer will suspend the Employee's salary reduction agreement, if any, until the following January 1 and pay in cash the portion of a cash or deferral election which would result in the Employee's elective deferrals for the calendar year exceeding the 402(g) limitation. If the Advisory Committee determines an Employee's elective deferrals already contributed to the Plan for a calendar year exceed the 402(g)
ANNUAL ELECTIVE DEFERRAL LIMITATION. 43 14.04 ACTUAL DEFERRAL PERCENTAGE ("ADP") TEST..................................44 14.05 NONDISCRIMINATION RULES FOR EMPLOYER MATCHING CONTRIBUTIONS/EMPLOYEE CONTRIBUTIONS............................................................45 14.06
ANNUAL ELECTIVE DEFERRAL LIMITATION. An Employee's elective deferrals for a calendar year beginning after December 31, 1986, may not exceed the 402(g) limitation. The 402(g) limitation is the greater of $7,000 or the adjusted amount determined by the Secretary of the Treasury. If,
ANNUAL ELECTIVE DEFERRAL LIMITATION. An Employee's elective deferrals for a calendar year beginning after December 31, 1986, may not exceed the 402(g) limitation. The 402(g) limitation is the greater of $7,000 or the adjusted amount determined by the Secretary of the Treasury. If, pursuant to a salary reduction agreement or pursuant to a cash or deferral election, the Employer determines the Employee's elective deferrals to the Plan for a calendar year would exceed the 402(g) limitation, the Employer will suspend the Employee's salary reduction agreement, if any, until the following January 1 and pay in cash the portion of a cash or deferral election which would result in the Employee's elective deferrals for the calendar year exceeding the 402(g) limitation. If the
ANNUAL ELECTIVE DEFERRAL LIMITATION. 38 (A) Annual Elective Deferral Limitation . ................ 38 (B) Allocable Income ..................................... 39 14.08 ANNUAL DEFERRAL PERCENTAGE "ADP" TEST ..................... 39 (A) Calculation of ACP ................................... 39 (B) Special Aggregation Rule for Highly Compensated Employees ................................ 39 (C) Aggregation of Certain Plans ......................... 39 (D) Characterization of Excess Contributions ............. 40 (E) Distribution of Excess Contributions.................. 40 (F) Allocable Income ..................................... 40 14.09 NONDISCRIMINATORY RULES FOR EMPLOYER MATCHING CONTRIBUTIONS/PARTICIPANT NONDEDUCTIBLE CONTRIBUTIONS ..... 40 (A) Calculation of ACP ................................... 40 (B) Special Aggregation Rule for Highly Compensated Employees ................................ 41 (C) Aggregation of Certain Plans ......................... 41 (D) Distribution of Excess Aggregate Contributions........ 41 (E)
