Examples of Excess Elective Deferrals in a sentence
Matching contributions which relate to Excess Elective Deferrals (regardless of whether such Excess Elective Deferrals are Pre-Tax Elective Deferrals or Roth Elective Deferrals) shall be treated as a Forfeiture.
No income or loss shall be allocated to Excess Deferrals, Excess Elective Deferrals or Excess Matching Contributions for the period between the end of the Plan Year in which such Excess Deferrals, Excess Elective Deferrals and/or Excess Matching Contributions arose and the date of distribution of such amounts.
Provided that, Excess Elective Deferrals to be distributed for a taxable year will be reduced by Excess Contributions previously distributed for the Plan Year beginning in such taxable year.
A Participant is deemed to notify the Plan Administrator of any Excess Elective Deferrals that arise by taking into account only those Elective Deferrals made to this Plan and any other plans of this Employer.
For years beginning after 2005, distribution of Excess Elective Deferrals for a year shall be made first from the Participant’s Account holding Deferred Compensation Contributions, to the extent Deferred Compensation Contributions were made for the year, unless the Participant specifies otherwise.