Common use of LIMITATIONS ON ALLOCATIONS Clause in Contracts

LIMITATIONS ON ALLOCATIONS. (1) If the Member does not participate in, another qualified defined contribution plan maintained by the Employer or a welfare benefit fund, as defined in Section 419(e) of the Code maintained by the Employer, or an individual medical account, as defined in Section 415(l)(2) of the Code, maintained by the employer, or a simplified employee pension, as defined in Section 408(k) of the Code, maintained by the Employer, which provides an annual addition as defined in paragraph 12, the amount of annual additions which may be credited to the Member’s account for any limitation year will not exceed the lesser of the maximum permissible amount or any other limitation contained in this Plan. If the Employer contribution that would otherwise be contributed or allocated to the Member’s account would cause the annual additions for the limitation year to exceed the maximum permissible amount, the amount contributed or allocated will be reduced so that the annual additions for the limitation year will equal the maximum permissible amount.

LIMITATIONS ON ALLOCATIONS. (1) If the Member does not participate in, and has never participated in another qualified defined contribution plan maintained by the Employer or a welfare benefit fund, as defined in Section Plan 419(e) of the Code maintained by the Employer, or an individual medical account, as defined in Section Plan 415(l)(2) of the Code, maintained by the employer, or a simplified employee pension, as defined in Section Plan 408(k) of the Code, maintained by the Employer, which provides an annual addition as defined in paragraph 1213, the amount of annual additions which may be credited to the Member’s 's account for any limitation year will not exceed the lesser of the maximum permissible amount or any other limitation contained in this Plan. If the Employer contribution that would otherwise be contributed or allocated to the Member’s 's account would cause the annual additions for the limitation year to exceed the maximum permissible amount, the amount contributed or allocated will be reduced so that the annual additions for the limitation year will equal the maximum permissible amount.

LIMITATIONS ON ALLOCATIONS. (1) If the Member does not participate in, another qualified defined contribution plan maintained by the Employer or a welfare benefit fund, as defined in Code Section 419(e) of the Code maintained by the Employer, or an individual medical account, as defined in Code Section 415(l)(2) of the Code), maintained by the employer, or a simplified employee Employee pension, as defined in Code Section 408(k) of the Code), maintained by the Employer, which provides an annual addition as defined in paragraph 12, the amount of annual additions Annual Additions which may be credited to the Member’s account Account for any limitation year will not exceed the lesser of the maximum permissible amount or any other limitation contained in this Plan. If the Employer contribution that would otherwise be contributed or allocated to the Member’s account Account would cause the annual additions Annual Additions for the limitation year to exceed the maximum permissible amount, the amount contributed or allocated will be reduced so that the annual additions Annual Additions for the limitation year will equal the maximum permissible amount.

LIMITATIONS ON ALLOCATIONS. (1) If the Member does not participate in, another qualified defined contribution plan maintained by the Employer or a welfare benefit fund, as defined in Code Section 419(e) of the Code maintained by the Employer, or an individual medical account, as defined in Code Section 415(l)(2) of the Code), maintained by the employer, or a simplified employee Employee pension, as defined in Code Section 408(k) of the Code), maintained by the Employer, which provides an annual addition as defined in paragraph 12, the amount of annual additions Annual Additions which may be credited to the Member’s account 's Account for any limitation year will not exceed the lesser of the maximum permissible amount or any other limitation contained in this Plan. If the Employer contribution that would otherwise be contributed or allocated to the Member’s account 's Account would cause the annual additions Annual Additions for the limitation year to exceed the maximum permissible amount, the amount contributed or allocated will be reduced so that the annual additions Annual Additions for the limitation year will equal the maximum permissible amount.

LIMITATIONS ON ALLOCATIONS. (1) If the Member does not participate in, and has never participated in another qualified defined contribution plan maintained by the Employer or a welfare benefit fund, as defined in Section Plan 419(e) of the Code maintained by the Employer, or an individual medical account, as defined in Section Plan 415(l)(2) of the Code, maintained by the employer, or a simplified employee pension, as defined in Section Plan 408(k) of the Code, maintained by the Employer, which provides an annual addition as defined in paragraph 1213, the amount of annual additions which may be credited to the Member’s account for any limitation year will not exceed the lesser of the maximum permissible amount or any other limitation contained in this Plan. If the Employer contribution that would otherwise be contributed or allocated to the Member’s account would cause the annual additions for the limitation year to exceed the maximum permissible amount, the amount contributed or allocated will be reduced so that the annual additions for the limitation year will equal the maximum permissible amount.

LIMITATIONS ON ALLOCATIONS. (1a) If the Member Participant does not participate in, and has never Participated in another qualified defined contribution plan maintained by the Employer or a welfare benefit fund, fund as defined in Section 419(e) of the Code maintained by the Employer, or an individual medical account, account as defined in Section 415(l)(2) of the Code, maintained by the employer, or a simplified employee pension, as defined in Section 408(k415(1)(2) of the Code, maintained by the Employer, which provides an "annual addition addition" as defined in paragraph 12Section 4.5, below, the amount of annual additions which may be credited to the Member’s account Participant's Account for any limitation year will not exceed the lesser of the maximum permissible amount or any other limitation contained in this Plan. If the Employer contribution that would otherwise be contributed or allocated to the Member’s account Participant's Account would cause the annual additions for the limitation year to exceed the maximum permissible amount, the amount contributed or allocated will be reduced as follows so that the annual additions for the limitation year will equal the maximum permissible amount.: