Deferral definition
Examples of Deferral in a sentence
Notwithstanding anything herein to the contrary, the taxation of any distribution from the ▇▇▇▇ Deferral Contribution Account shall be consistent with the Treasury Regulations under Code Section 402A.
Eligible rollover distributions from a Participant’s ▇▇▇▇ Deferral Contribution Account shall be taken into account in determining whether the total amount of the Participant’s Account balances under Section 14.3(b) of the Plan exceed $1,000 or $5,000, as applicable, for purposes of mandatory distributions from the Plan.
Notwithstanding the foregoing, any excess contributions to be distributed hereunder shall be reduced by any Excess Deferrals previously distributed for the Plan Year under Section 12.2. A Highly Compensated Worker Member may designate the extent to which the excess amount to be distributed is composed of Pre-Tax Deferral Contributions and ▇▇▇▇ Deferral Contributions but only to the extent such types of contributions were made for the Plan Year.
To the extent that it is necessary or appropriate to conform the operations of the Plan to the limitations set forth in ARTICLE XII, uniform limitations on Payroll Deferrals may be established from time to time, and, in accordance with such limitations, any Payroll Deferral authorized by a Participant may be reduced.
Distributions from a ▇▇▇▇ Deferral Contribution Account shall not be subject to taxation if the distribution is a qualified distribution, as described in Code Section 402A(d)(2).