Excess Matching Contributions definition

Excess Matching Contributions means the amount of contributions credited on a Member’s behalf under Section 3.01(b).

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Excess Matching Contributions means contributions made to the Plan by the Company for the Plan Year, at the discretion of the Company, and allocated to a Participant’s Individual Account by reason of the Participant’s Excess Salary Redirection Contributions contributed to the Plan pursuant to Section 3.1(a).

Excess Matching Contributions of a Participant shall mean the amount by which his Matching Contributions for the Plan Year are attributable to Corrective Distributions for the Plan Year which have exceeded his Basic Employee Contributions for the Plan Year.

Examples of Excess Matching Contributions in a sentence

Any Excess Matching Contributions, as so adjusted, to be distributed to Participants shall be designated as Excess Matching Contributions by the Company and be distributed after the close of the Plan Year for which they were made normally within 2 1/2 months after the end of such Plan Year, and in any event not later than 12 months after the end of such Plan Year.
If Excess Elective Contributions and Excess Matching Contributions, if any, have been distributed to one or more Highly Compensated Employees under Article IV(G)(2)(c) and (d) and Article IV(H)(3) and (4), the Actual Deferral Percentages and Actual Contribution Percentages referred to in the preceding paragraph shall be deemed to be the highest percentages permitted under Code Sections 401(k)(3) and 401(m)(2), respectively.
For each Plan Year the Plan fails to meet the limitation in subsection (a) above, the Plan Administrator shall identify those Participants who were allocated Excess Matching Contributions and shall direct the Trustee to forfeit the Excess Matching Contributions and Allocable Earnings thereon prior to 2 1/2 months after the end of the Plan Year and in any event no later than the close of the following Plan Year (so as to preserve the qualified status of the Plan under Code section 401(a)).
In the event the limitation is exceeded, the Plan Administrator shall direct the Trustee to forfeit the Excess Matching Contributions and Allocable Earnings thereon pursuant to subsection (b) below.
The income or loss allocable to Excess Matching Contributions shall be determined by the same manner in which income or loss is allocated to Participants' Accounts under Article VIII.

More Definitions of Excess Matching Contributions

Excess Matching Contributions means Employer Matching Contributions that exceed those permitted by the non-discrimination tests in Article 4.6.

Excess Matching Contributions means the contributions as described in Section 4.2.

Excess Matching Contributions means the amount of contributions credited on a Participant's behalf under Section 3.03.

Excess Matching Contributions means, with respect to a Plan Year, the excess of Matching Contributions made on behalf of Highly Compensated Participants for the Plan Year over the maximum amount of such contributions permitted under section 4.10. Excess Matching Contributions shall be treated as Annual Additions pursuant to section 4.12.

Excess Matching Contributions for any Plan Year means the Regular Matching Contributions and Discretionary Matching Contributions made to the Plan on behalf of Participants who are Highly Compensated Employees in excess of the limitations set forth in Section 4.5.1 and Section 4.6; provided, however, that Regular Matching Contributions and Discretionary Matching Contributions which are forfeited pursuant to Section 4.7 shall not be considered to be Excess Matching Contributions.

Excess Matching Contributions means for any Plan Year the excess of (a) the aggregate amount of Employer Contributions taken into account under Section 4.7(a) that are paid to the Trust on behalf of Highly Compensated Eligible Employees for such year, over 5 11 (b) the maximum amount of such contributions permitted under Section 4.7(a).

Excess Matching Contributions means for any Plan Year the excess of