Excess Deferrals. Elective Deferrals that are includible in a Participant’s gross income because they exceed the dollar limitation under Code §402(g). Excess Deferrals made to this Plan shall be treated as Annual Additions under the Plan, unless such amounts are distributed no later than the first April 15 following the close of the Participant’s taxable year for which the Excess Deferrals are made. See Section 17.1.
Appears in 2 contracts
Sources: Defined Contribution Plan and Trust (National Penn Bancshares Inc), Defined Contribution Prototype Plan and Trust Agreement (Mercantile Bancorp, Inc.)
Excess Deferrals. Elective Deferrals that are includible in a Participant’s 's gross income because they exceed the dollar limitation under Code §?402(g). Excess Deferrals made to this Plan shall be treated as Annual Additions under the Plan, unless such amounts are distributed no later than the first April 15 following the close of the Participant’s 's taxable year for which the Excess Deferrals are made. See Section 17.1.Section
Appears in 1 contract
Sources: Profit Sharing/401(k) Prototype Plan and Trust (Capital Corp of the West)