Excess Elective Deferrals. Those Elective Deferrals that are either (1) are made during the participant’s taxable year and exceed the dollar limitation under Code §402(g) (including, if applicable, the dollar limitation on Catch-up Contributions defined in §414(v)) for such year; or (2) are made during a calendar year and exceed the dollar limitation under Code 402(g) (including , if applicable, the dollar limitation on Catch-up Contributions defined in §414(v)) for the participant’s taxable year beginning in such calendar year, counting only Elective Deferrals made under this Plan and any other plan, contract or arrangement maintained by the Employer.
Appears in 3 contracts
Sources: Individual 401(k) Plan Purchase Agreement, Employer Sponsored Plan Account Agreement, Employer Sponsored Plan Account Agreement