Example ContractsClausesdeferralsVariants
Remove:

Excess Deferrals. If a Participant has Excess Deferrals for a taxable year, the Participant may, not later than March 1st following the close of such taxable year, notify the Administrator in writing of such excess and request that the Participant's Elective Deferrals under this Plan be reduced by an amount specified by the Participant. In such event, the Administrator shall direct the distr ibution of such excess amount (and any "income" allocable to such excess amount) to the Participant not later than the first April 15th following the close of the Participant's taxable year. Any distribution of less than the entire amount of Excess Deferrals and "income" shall be treated as a pro rata distribution of Excess Deferrals and "income." The amount distributed shall not exceed the Participant's Elective Deferrals under the Plan for the taxable year. Any distribution on or before the last day of the Participant's taxable year m ust satisfy each of the following conditions:

11.2Distribution of Excess Deferrals. IfA Participant shall receive a distribution under this [Section 11.2] if either # the Participant’s Employee Contributions to the Plan for a Plan Year exceed the Annual Employee Contribution Limit, or (b) (1) the Participant’s “Elective Deferrals” (as defined below) for the Participant’s taxable year exceed the Annual Employee Contribution Limit for such taxable year (such excess under [clause (a) or (b)])] (1) above being referred to as “Excess Deferrals”), and # the Participant hasrequests a distribution of all or any portion of such Excess Deferrals forfrom the Plan by providing the Committee, on or before the March 1 after the calendar year in which the Excess Deferrals were made, with a taxable year,written statement # stating that the Participant may, not later than March 1st followinghad made such Excess Deferrals and # specifying the closeamount of such taxable year, notify the Administrator in writing of such excess and requestExcess Deferrals that the Participant's ElectiveParticipant desires to allocate to, and have distributed from, the Plan. Excess Deferrals under this Plan be reduced by an amount specified by the Participant. In such event, the Administrator shall direct the distr ibution of such excess amount (and any "income"Income allocable to such excess amount) shall be distributed pursuant to this [Section 11.2] to the Participant not later than the first April 15th following the close of the Participant'Participant’s taxable year. Any distribution of less than the entire amount of Excess Deferrals and "income"Income shall be treated as a pro rata distribution of Excess Deferrals and "income."Income. The amount distributed shall not exceed the Participant'Participant’s Elective DeferralsEmployee Contributions under the Plan for the taxable year.year (and any Income allocable thereto). Any distribution on or before the last day of the Participant'Participant’s taxable year m ustmust satisfy each of the following conditions:

Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.