Excess Elective Deferral definition

Excess Elective Deferral means the amount of a Participant's pre-tax elective deferrals (as defined in Article 4.4(a)) for a taxable year which are includible in the Participant's gross income for the taxable year for the reason they exceed the dollar limitation in effect under Section 402(g) of the Code.
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Excess Elective Deferral means an amount that exceeds the limit of Code Section 402(g) for the applicable Plan Year.
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Excess Elective Deferral means, except as provided in Code Section 414(v), that portion of a Participant's Elective Deferrals for a Plan Year which exceeds the limits of Code Section 402(g).
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Examples of Excess Elective Deferral in a sentence

  • If a Participant who participates in this Plan and in another plan which permits Elective Deferrals defers more than the Code Section 402(g) maximum, such Participant shall have the right to notify one or both plans by March 1 of the calendar year following the year to which the excess is attributable requesting a distribution of the Excess Elective Deferral.

  • In all events, a distribution of Excess Amounts (defined in Section 3.7.1), Excess Aggregate Contributions, Excess Contributions, and Excess Elective Deferral Contributions is not an Eligible Rollover Distribution.

  • In that event, the Excess Elective Deferral Contributions are includible in the Participant’s gross income both in the year contributed and in the year distributed.

  • Excess Elective Deferral Contributions shall be adjusted for income or loss up to the date of distribution.

  • Excess Elective Deferral Contributions shall be treated as Annual Additions under the Plan, unless such amounts are distributed no later than the April 15th immediately following the close of the calendar year in which the Excess Elective Deferral Contributions were made and in accordance with the procedures set forth in Section 3.4.2(A).

  • Forfeitures of Profit Sharing Contributions, Money Purchase Contributions and Matching Contributions, other than Excess Aggregate Contributions or Matching Contributions related to contributions that are Excess Aggregate Contributions, Excess Elective Deferral Contributions, or Excess Contributions, shall be made in accordance with the selection made in the Adoption Agreement.

  • A Participant is deemed to notify the Plan Administrator of any Excess Elective Deferral Contributions that arise by taking into account those Elective Deferral Contributions made to the Plan and any other plans of the Primary Employer or of an Affiliate.

  • The amount required to be distributed to correct an Excess Elective Deferral Contribution to a Participant for a taxable year shall be reduced by Excess Contributions (and allocable income) previously distributed with respect to the Participant for the Plan Year beginning with or within the taxable year.

  • Income or loss allocable to the period between the end of the calendar year in which the Excess Elective Deferral Contribution occurred and the date of distribution (gap earnings) shall be disregarded in determining income or loss for Plan Years beginning before 2007, unless the Primary Employer elects otherwise.

  • Excess Elective Deferral Contributions shall be treated as Annual Additions unless distributed in accordance with applicable guidance.


More Definitions of Excess Elective Deferral

Excess Elective Deferral means an amount that is determined to exceed the limitation of Section 402(g) of the Code for the applicable Plan Year.
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