Common use of Excess Deferrals Clause in Contracts

Excess Deferrals. “Excess Deferrals” shall mean those Elective Contributions that are includible in a Participant’s gross income under Code section 402(g) of the Code to the extent such Participant’s Elective Contributions for a taxable year exceed the dollar limitation under such Code section (including, if applicable, the dollar limitation on Catch-Up Contributions defined in Code section 414(v)). Excess Deferrals shall be treated as Annual Additions under the Plan, unless such amounts are dis- tributed no later than the first April 15 following the close of the Participant’s taxable year.

Excess Deferrals. “Excess Deferrals” shall mean those Elective Contributions that are includible in a Participant’s gross income under Code section 402(g) of the Code to the extent such Participant’s Elective Contributions for a taxable year exceed the dollar limitation under such Code section (including, if applicable, the dollar limitation on Catch-Up Contributions defined in Code section 414(v)). Excess Deferrals shall be treated as Annual Additions under the Plan, unless such amounts are dis- tributed distributed no later than the first April 15 following the close of the Participant’s taxable year.