Excess Contribution definition
Excess Contribution means a contribution that exceeds the
Excess Contribution. With respect to any Plan Year, the excess of:
(a) the aggregate amount of Employer contributions actually taken into account in computing the ADP of Highly Compensated Employees for such Plan Year, over
(b) the maximum amount of such contributions permitted by the ADP Test (determined by hypothetically reducing contributions made on behalf of Highly Compensated Employees in order of the ADPs, beginning with the highest of such percentages).
Excess Contribution means the excess of (i) the amount contributed for the tax year (other than a rollover contribution) over (ii) the amount allowable as a contribution.
Examples of Excess Contribution in a sentence
Notwithstanding the foregoing, a Member that holds only Non-Voting Units (and no other Units) shall not be permitted to make an Excess Contribution.
If a Contributing Member elects to make an Excess Contribution, then it shall be treated as a Capital Contribution, in which case the Contributing Member shall receive Units corresponding to the amount of such Excess Contribution based on the Dilution Model, in respect of contributions pursuant to Section 3.2(a) or in substitution of the GM Letters of Credit, or the Final FMV of a Unit, in respect of a contribution pursuant to Section 3.3 (and Schedule “C” shall be adjusted accordingly).
More Definitions of Excess Contribution
Excess Contribution means a contribution that exceeds the applicable contribution limits for a particular election.
Excess Contribution shall have the meaning provided in the PBGC Stipulation of Settlement.
Excess Contribution means the amount of contributions made during a Plan Year on behalf of a Highly Compensated Employee in excess of the amount of contributions permitted with respect to such individual, taking into account any reduction in the actual contribution ratio or the actual deferral ratio required by Section 8.5(b).
Excess Contribution means the amount deferred by a Highly Compensated Employee in excess of the ADP Test limit, as specified in Plan section 6.3.
Excess Contribution means Excess Contribution as defined in Article IV(G)(2)(c).
Excess Contribution means the amount by which Before-Tax Contributions (determined without regard to the Participant’s Catch-Up Contributions) for a Plan Year made by Highly Compensated Employees exceed the limitations of Subsection 6.01, as determined in accordance with Treasury Regulation Section 1.401(k)-2(b).
Excess Contribution shall have the meaning set forth in Section 2.3 hereof.