Common use of Distribution of Excess Contributions Clause in Contracts

Distribution of Excess Contributions. (i) Notwithstanding any other provision of this Plan, Excess Contributions, plus any income and minus any loss allocable thereto, shall be distributed no later than the last day of each Plan Year to Participating Employees to whose Accounts such Excess Contributions were allocated for the preceding Plan Year. If such excess amounts are distributed more than two and one-half (2-1/2) months after the last day of the Plan Year in which such excess amounts arose, a ten percent (10%) excise tax will be imposed on the Employer with respect to such amounts. Such distributions shall be made to Highly Compensated Employees on the basis of the respective portions of the Excess Contributions attributable to each of such Employees. Excess Contributions shall be allocated to Participating Employees who are subject to the family member aggregation rules of Code Section 414(q)(6) in the manner prescribed by the regulations. Excess Contributions (including any amounts recharacterized) shall be treated as Annual Additions for purposes of Article VI of the Plan.

Distribution of Excess Contributions. (ia) Notwithstanding any other provision of this Plan, Excess Contributions, plus any income and or minus any loss allocable thereto, shall be distributed no later than the last day of each Plan Year to Participating Employees Participants to whose Accounts accounts such Excess Contributions were allocated for the preceding Plan Year. If such excess amounts are distributed more than two and one-half (2-1/2) 1/2 months after the last day of the Plan Year in which such excess amounts arose, a ten percent (10%) percent excise tax will be imposed on the Employer maintaining the Plan with respect to such amounts. Such distributions shall be made to Highly Compensated Employees on the basis of the respective portions of the Excess Contributions attributable to each of such Employees. Excess Contributions shall be allocated to Participating Employees Participants who are subject to the family member Family Member aggregation rules of Code Section section 414(q)(6) of the Code in the manner prescribed by the regulations. Excess Contributions (including any amounts recharacterized) shall be treated as Annual Additions for purposes of Article VI of the Plan.

Distribution of Excess Contributions. (ia) DISTRIBUTION -- Notwithstanding any other provision of this Plan, Excess Contributions, plus any income and minus any loss allocable thereto, shall will be distributed no later than the last day of each Plan Year to Participating Employees Participants to whose Accounts accounts such Excess Contributions were allocated for the preceding Plan Year. If such excess amounts are distributed more than two and one-half (2-1/2) 1/2 months after the last day of the Plan Year in which such excess amounts arose, a ten percent (10%) % excise tax will be imposed on the Employer maintaining the Plan with respect to such amounts. Such distributions shall will be made to Highly Compensated Employees on the basis of the respective portions of the Excess Contributions attributable to each of such Employees. Excess Contributions shall will be allocated to Participating Employees Participants who are subject to the family member Family Member aggregation rules of Code Section section 414(q)(6) in the manner prescribed by the regulations. Excess Contributions (including any the amounts recharacterized) shall will be treated as Annual Additions for purposes of Article VI of under the Plan.