Elective Deferral Limit definition

Elective Deferral Limit means the limit stated in Code Section 402(g)(1)(B), as adjusted in accordance with Code Section 402(g)(4).
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Elective Deferral Limit means the dollar limitation under Section 402(g) of the Code in effect for a Participant's taxable year ($18,000 for 2017, as adjusted for future years), determined by including the amount of elective deferrals made by the Participant during the Participant's taxable year under any other qualified plans or agreements other than this Plan maintained by a Participating Company or by a Non-Covered Company. For this purpose, a Participant's taxable year shall be presumed to be the calendar year. No Participant shall be permitted to have elective deferrals in excess of the Elective Deferral Limit. Catch-up Contributions described in Section 1.12 are not treated as elective deferrals for purposes of the Elective Deferral Limit.
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Elective Deferral Limit means the limit stated in Code Section 402(g)(1)(B), as adjusted in accordance with Code Section 402(g)(4). “ Eligible Director ” means a Non-Employee Director who has been determined by the Plan Administrator to be eligible to participate inthe Plan.
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Examples of Elective Deferral Limit in a sentence

  • Age 50 Catch-Up Deferrals are not: (a) subject to the Annual Additions Limit under Section 4.05(B); or (b) subject to the Elective Deferral Limit under Section 4.10(A).

  • If a Participant has Excess Deferrals because of making Elective Deferrals to this Plan and other plans of the Employer (but where the Elective Deferral Limit is not exceeded based on Deferrals to any single plan), the Participant for purposes of this Section 4.10(A)(7) is deemed to have notified the Plan Administrator of this Plan of the Excess Deferrals.

  • A Participant's Excess Deferral is the amount of Elective Deferrals for a Taxable Year which exceeds the Elective Deferral Limit.

  • The Elective Deferral Limit is the amount as in effect under Code §402(g) ($18,000 in 2017), subject to adjustment by the IRS in multiples of $500 under Code §402(g)(4).

  • Qualified Organization Catch-Up Deferrals are not subject to the Elective Deferral Limit of Section 4.10(A).

  • An Age 50 Catch-up Deferral is an Elective Deferral by a Catch-up Eligible Participant and which exceeds: (a) a Plan limit on Elective Deferrals under Section 3.02(A); (b) the Annual Additions Limit under Section 4.05(B); or (c) the Elective Deferral Limit under Section 4.10(A).

  • If the Plan Administrator determines a Participant's Elective Deferrals already contributed to the Plan for a Taxable Year exceed the Elective Deferral Limit, the Plan Administrator will distribute the Excess Deferrals as adjusted for Allocable Income, no later than April 15 of the following Taxable Year (or if later, the date permitted under Code §§7503 or 7508A).

  • Elective Deferrals distributed to a Participant as an Excess Amount in accordance with Section 4.03 are not taken into account in determining the Participant's Elective Deferral Limit.

  • Notwithstanding the foregoing, an Employee under a 403(b) Plan may make Elective Deferrals with respect to Compensation which exceeds the Plan Year Compensation limitation, provided such Elective Deferrals otherwise satisfy the Elective Deferral Limit and other applicable Plan limitations.

  • The Elective Deferral Limit is the Code §402(g) limitation on each Participant's Elective Deferrals for each Taxable Year as described in Section 4.10(A)(3).


More Definitions of Elective Deferral Limit

Elective Deferral Limit means the limitation set forth in Section 402(g)(1) of the Code.
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Elective Deferral Limit means the limit on elective deferrals provided in Code Section 402(g), as adjusted under Code Section 402(g)(4).
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Related to Elective Deferral Limit

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Matching Contribution means an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of a Participant's Deferral Contribution.

  • Non-Highly Compensated Participant means any Participant who is neither a Highly Compensated Employee nor a Family Member.

  • Deferral Amount means the sum of all of a Participant's Annual Deferral Amounts.

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

  • Elective Contribution means the Employer contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess “annual additions” pursuant to Section 4.11(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.7(b) which is used to satisfy the “Actual Deferral Percentage” tests shall be considered an Elective Contribution for purposes of the Plan. Any contributions deemed to be Elective Contributions (whether or not used to satisfy the “Actual Deferral Percentage” tests or the “Actual Contribution Percentage” tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the nondiscrimination requirements of Regulation 1.401(k)-1(b)(5) and Regulation 1.401(m)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Plan Year means the calendar year.

  • Limitation Year means the Plan Year.

  • Highly Compensated Participant means any Highly Compensated Employee who is eligible to participate in the Plan.

  • Annual Limit means the maximum amount claimable per person in a calendar year, unless otherwise stated.

  • Highly Compensated Employee means an Employee who: