Common use of Annual Addition Clause in Contracts

Annual Addition. For purposes of this Article VI, “Annual Addition” means the sum for any Plan Year of (a) employer contributions to a plan (or portion thereof) subject to section 415(c) of the Code maintained by an Employer or an Affiliate, (b) forfeitures under all such plans (or portions thereof), if any, credited to employee accounts, (c) employee contributions under all such plans (or portions thereof), and (d) amounts described in section 419A(d)(2) of the Code (relating to post-retirement medical benefits of key employees) or allocated to a pension plan individual medical account described in section 415(l) of the Code to the extent includible for purposes of section 415(c)(2) of the Code. The employee contributions described in clause (c) shall be determined without regard to (i) any rollover contributions, (ii) any repayments of loans, or (iii) any prior distributions repaid upon the exercise of buy-back rights. Employer and employee contributions taken into account as Annual Additions shall include “excess contributions” as defined in section 401(k)(8)(B) of the Code, “excess aggregate contributions” as defined in section 401(m)(6)(B) of the Code, and “excess deferrals” as described in section 402(g) of the Code (to the extent such excess deferrals are not distributed to the employee before the April 15 following the taxable year of the employee in which such deferrals were made), regardless of whether such amounts are distributed or forfeited.

Annual Addition. For purposes of this Article VI, “"Annual Addition” " means the sum for any Plan Year of (a) employer contributions to a plan (or portion thereof) subject to section 415(c) of the Code maintained by an Employer or an Affiliate, (b) forfeitures under all such plans (or portions thereof), if any, credited to employee accounts, (c) employee contributions under all such plans (or portions thereof), and (d) amounts described in section 419A(d)(2) of the Code (relating to post-retirement medical benefits of key employees) or allocated to a pension plan individual medical account described in section 415(l) of the Code to the extent includible for purposes of section 415(c)(2) of the Code. The employee contributions described in clause (c) shall be determined without regard to (i) any rollover contributions, (ii) any repayments of loans, or (iii) any prior distributions repaid upon the exercise of buy-back rights. Employer and employee contributions taken into account as Annual Additions shall include “"excess contributions” " as defined in section 401(k)(8)(B) of the Code, “"excess aggregate contributions” " as defined in section 401(m)(6)(B) of the Code, and “"excess deferrals” " as described in section 402(g) of the Code (to the extent such excess deferrals are not distributed to the employee before the April 15 following the taxable year of the employee in which such deferrals were made), regardless of whether such amounts are distributed or forfeited. The Annual Additions for any Plan Year beginning before January 1, 1987 shall be determined under the Plan as then in effect and shall not be recomputed to treat all employee contributions as Annual Additions.