Common use of Allocation of Excess Deferrals Clause in Contracts

Allocation of Excess Deferrals. If the Participant has made “excess deferrals” as described in Section 402(g)(2)(A) of the Code for any taxable year, the Participant may assign to the Account any portion of such excess deferrals by notifying the Master Custodial Administration Agreement Administrator and Plan Administrator in writing no later than March 1 following the close of the taxable year. Such written notification shall certify that the Participant has made excess deferrals for the taxable year and specify the amount of such excess deferrals to be allocated to the Account for the taxable year.

Allocation of Excess Deferrals. If the Participant has made “excess deferrals” as described in Section 402(g)(2)(A) of by the Code for any taxable year, the Participant may assign to the Account any portion of such excess deferrals by notifying the Master Custodial Administration Agreement Administrator and Plan Administrator in writing no later than March 1 following the close of the taxable year. Such written notification shall certify that the Participant has made excess deferrals for the taxable year and specify the amount of such excess deferrals to be allocated to the Account for the taxable year.