Common use of Distribution of Excess Elective Deferrals Clause in Contracts

Distribution of Excess Elective Deferrals. No Participant shall be permitted to defer under this Plan with respect to a calendar year more than the maximum dollar amount permitted under Code Section 402(g), as indexed, for such calendar year. If a Participant defers more than the maximum allowed due to mistake of fact, such Excess Elective Deferrals shall be distributed to the Participant no later than April 15 following the calendar year to which the excess is attributable. If a Participant who participates in this Plan and in another plan which permits Elective Deferrals defers more than the Code Section 402(g) maximum, such Participant shall have the right to notify one or both plans by March 1 of the calendar year following the year to which the excess is attributable requesting a distribution of the Excess Elective Deferral. 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 the Plan of the Employer. If distribution is requested, the applicable plan(s) shall make distribution of the Excess Elective Deferrals, plus any income and minus any loss allocable thereto, no later than April 15 following the calendar year to which the excess is attributable. Excess Elective Deferrals which are distributed on a timely basis shall not be considered Annual Additions for the Limitation Year during which such amounts are deferred.

Distribution of Excess Elective Deferrals. No Participant shall be permitted to defer under this Plan with respect to a calendar year more than the maximum dollar amount permitted under Code Section 402(g), as indexed, for such calendar year. If a Participant defers more than the maximum allowed due to mistake of fact, such Excess Elective Deferrals or ▇▇▇▇ Elective Deferrals shall be distributed to the Participant no later than April 15 following the calendar year to which the excess is attributable. If a Participant who participates in this Plan and in another plan which permits Elective Deferrals or ▇▇▇▇ Elective Deferrals defers more than the Code Section 402(g) maximum, such Participant shall have the right to notify one or both plans by March 1 of the calendar year following the year to which the excess is attributable requesting a distribution of the Excess Elective DeferralDeferrals or ▇▇▇▇ Elective Deferrals. 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 the Plan Plan, contract, or arrangement of the Employer. If distribution is requested, the applicable plan(s) shall make distribution of the Excess Elective Deferrals or ▇▇▇▇ Elective Deferrals, plus any income and minus any loss allocable thereto, no later than April 15 following the calendar year to which the excess is attributable. Excess Elective Deferrals which or ▇▇▇▇ Elective Deferrals that are distributed on a timely basis shall not be considered Annual Additions for the Limitation Year during which such amounts are deferred.

Distribution of Excess Elective Deferrals. No Participant shall be permitted to defer under this Plan with respect to a calendar (A) If in any Participant's taxable year more than the maximum dollar amount permitted under Code Section 402(g), as indexed, for such calendar year. If a Participant defers more than the maximum allowed due to mistake of fact, such Excess Elective Deferrals shall be distributed to the Participant no later than April 15 following the calendar year to which the excess is attributable. If a Participant who participates in this Plan and in another plan which permits Elective Deferrals defers more than the Code Section 402(g) maximum, such Participant shall have the right to notify one or both plans by March 1 of the calendar year following the year to which the excess is attributable requesting a distribution of the Excess Elective Deferral. 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 by a Participant exceeds the Plan of the Employer. If distribution is requestedmaximum amount set forth in Section 1 above, the applicable plan(s) shall make distribution of the Excess Elective Deferrals, plus any income and minus any loss allocable theretoattributable to the Excess Elective Deferrals, shall be distributed no later than April 15 15th of the year following the calendar Participant's taxable year to in which the excess is attributableExcess Elective Deferrals occurred. Excess Elective Deferrals which that are not distributed on a timely basis by the April 15 date shall remain in the Plan and be subject to the general withdrawal restrictions applicable to Elective Deferrals as specified in Article XIV. Excess Elective Deferrals distributed no later than the April 15th date, shall not be considered treated as Annual Additions with respect to the maximum limitations under Code Section 415, as described in Article IX. (B) In the event a Participant enters into two or more salary reduction agreements with respect to the Participant's taxable year, and the Participant's Elective Deferrals to this Plan and another plan subject to the Code Section 402(g) limit exceed the maximum Elective Deferral amount set forth in Section 1 of this Article for this taxable year, the Limitation Participant may notify the employer in writing no later than March 1st of the next taxable year of the portion of the excess attributable to elective deferrals made to this Plan. The portion of the excess made to this Plan becomes Excess Elective Deferrals and must be handled as provided in subsection (A) above. (C) The amount of Excess Elective Deferrals for a participant's taxable year that must be distributed to a Participant is reduced by any Excess Contributions attributable to the Plan Year during which such amounts are deferredbeginning with or within the Participant's taxable year that have previously been distributed.