excess contribution

(ii)For purposes of clause (i), the term “excess contribution” means, with respect to a highly compensated employee, the excess of elective employer contributions under this paragraph over the maximum amount of such contributions allowable under subparagraph (A)(iii). (D)For purposes of this paragraph, the deferral percentage for an employee for a year shall be the ratio of— (i)the amount of elective employer contributions actually paid over to the simplified employee pension on behalf of the employee for the year, to (ii)the employee’s compensation (not in excess of the first $200,000) for the year. (E)This paragraph shall not apply to a simplified employee pension maintained by— (i)a State or local government or political subdivision thereof, or any agency or instrumentality thereof, or (ii)an organization exempt from tax under this title. (F)This paragraph shall not apply with respect to any year for which the simplified employee pension does not meet such requirements as the Secretary may prescribe as are necessary to insure that excess contributions are distributed in accordance with subparagraph (C), including— (i)reporting requirements, and (ii)requirements which, notwithstanding paragraph (4), provide that contributions (and any income allocable thereto) may not be withdrawn from a simplified employee pension until a determination has been made that the requirements of subparagraph (A)(iii) have been met with respect to such contributions.


26 USC § 408(k)(6)(C)(ii)

Scoping language

None: Default is title Scope
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