Excess Aggregate. Contributions The excess, with respect to any Plan Year, of: (a) the aggregate Contribution Percentage Amounts taken into account in computing the numerator of the Contribution Percentage actually made on behalf of Highly Compensated Employees for such Plan Year, over (b) the maximum Contribution Percentage Amounts permitted by the ACP test (determined hypothetically by reducing contributions made on behalf of Highly Compensated Employees in order of their Contribution Percentages beginning with the highest of such percentages). (c) Such determination shall be made after first determining Excess Elective Deferrals pursuant to paragraph 1.47 and then determining Excess Contributions pursuant to paragraph 1.46.
Appears in 4 contracts
Sources: Defined Contribution Plan (Georgetown Bancorp, Inc.), Defined Contribution Plan (Idt Corp), Defined Contribution Plan (Chicopee Bancorp, Inc.)