Excess Aggregate Sample Clauses
Excess Aggregate. Contributions The excess, with respect to any Plan Year, of:
(a) the aggregate Contribution Percentage Amounts taken into account in computing the numerator of the Contribution Percentage actually made on behalf of Highly Compensated Employees for such Plan Year, over
(b) the maximum Contribution Percentage Amounts permitted by the ACP test (determined hypothetically by reducing contributions made on behalf of Highly Compensated Employees in order of their Contribution Percentages beginning with the highest of such percentages).
(c) Such determination shall be made after first determining Excess Elective Deferrals pursuant to paragraph 1.47 and then determining Excess Contributions pursuant to paragraph 1.46.
Excess Aggregate. Contributions - means the excess of (a) the ------------------------------ SavingsPLUS Contributions actually made by or on behalf of Highly Compensated Employees for a Plan Year over (b) the maximum permissible amount of such contributions for such Plan Year under Code (S) 401(m) as described in Section 5.2.
Excess Aggregate. Contributions, and any income allocable thereto, shall be distributed after the Plan Year in which the Excess Aggregate Contributions arose and no later than March 15 of the following Plan Year to Highly Compensated Employees to whose Accounts Excess Aggregate Contributions were made.
Excess Aggregate. Contributions ----------------------------------
A.7.1 Excess Aggregate Contributions and income allocable to those contributions are forfeited, if otherwise forfeitable under this Plan, or if not forfeitable, distributed no later than the last day of each Plan Year, to Participants to whose Accounts Matching Contributions were allocated for the preceding Plan Year. Excess Aggregate Contributions are allocated to Participants who are subject to the family member aggregation rules of Code Section 414(q)(6) in the manner prescribed by regulations. The Administrative Committee anticipates that the Excess Aggregate Contribution will be distributed to affected Participants within 2 1/2 months after the close of the Plan Year in which the Excess Aggregate Contribution occurred.
A.7.2 If Excess Aggregate Contributions are not distributed to affected Participants within 2 1/2 months after the close of the Plan Year, the Employer will be subject to a 10% excise tax under Code Section 4979.
A.7.3 The Excess Aggregate Contributions to be distributed are adjusted for income and losses up to the date of distribution. The income or loss allocable to Excess Aggregate Contributions equals the sum of: (a) income or loss allocable to the Participant's Matching Contributions (and, if applicable, Elective Deferrals and Qualified Nonelective Contributions treated as Matching Contributions) for the Plan Year multiplied by a fraction, the numerator of which is the Participant's Excess Aggregate Contributions for the Plan Year and the denominator is the Participant's Account Balances attributable to Matching Contributions (and, if applicable, Elective Deferrals and Qualified Nonelective Contributions) on the last day of the Plan Year without regard to any income or loss occurring during that Plan Year; plus