Limit on Amount Apportioned to Any Individual. For purposes of correcting an ACP testing failure by distributing Excess Aggregate Contributions, the amount of contributions taken into account with respect to an HCE who is an eligible employee in more than one plan of an Employer is determined by taking into account contributions otherwise taken into account with respect to such HCE under any plan of the Employer during the plan year of the plan being tested. However, the amount of Excess Aggregate Contributions apportioned for a plan year with respect to any HCE must not exceed the amount of contributions actually contributed to the plan for the HCE for the plan year.
Appears in 3 contracts
Sources: 401(k) Savings Investment Plan (Furmanite Corp), 401(k) Savings Plan (Mens Wearhouse Inc), 401(k) Savings Investment Plan Amendment (Furmanite Corp)