The Hartford 2008 Annual Report Download - page 770

ARTICLE SIX
IRS LIMITS ON MEMBER SAVINGS
AND COMPANY CONTRIBUTIONS
6.1 IRS Limits on Before-Tax and Roth 401(k) Savings.
(A) Maximum Amount of Before-Tax and Roth 401(k) Savings . The maximum dollar amount of combined
Before-Tax and Roth 401(k) Savings that may be made on behalf of any Member for a calendar year shall be the
maximum amount determined by the Secretary of the Treasury, pursuant to Section 402(g) of the Code. In the event
that the foregoing limitation is exceeded for any calendar year, the excess Before-Tax Savings and Roth 401(k) Savings
as adjusted for investment experience will, in the sole discretion of the Plan Administrator, either (i) be deemed to have
been distributed to the Member and recontributed to the Plan as After-Tax Savings, or (ii) be returned to the Member
on behalf of whom such Before-Tax Savings and/or Roth 401(k) Savings were contributed. Any returned amounts will
be returned no later than April 15 following the end of the calendar year that the contributions were made. However, if
the Member participated in more than one qualified defined contribution plan to which he or she contributed pursuant
to a Salary deferral arrangement, the Member shall notify the Plan Administrator by April 15 of the following calendar
year of the amount of the excess deferrals to be allocated to this Plan, and such portion of the excess deferrals so
allocated shall be recontributed to the Plan as After-Tax Savings or returned to the Member as provided in the
preceding sentence.
Notwithstanding the foregoing, in the case of any Member who (a) ceases to be an Eligible Employee during a Plan
Year, (b) is employed during such Plan Year by an employer which is not the Company or an entity within the
controlled group of corporations (as defined in Code Section 414(b) and the Regulations thereunder) containing the
Company, and (c) exceeds the limitation on elective deferrals enumerated in Code Section 402(g) ($16,500 in 2009)
based on the Member’s participation in the Plan and participation in a plan maintained by the subsequent employer, the
Plan shall not distribute to such a Member any Before-Tax Savings or Roth 401(k) Savings (or any income thereon)
that arise solely as a result of the Member exceeding the Code Section 402(g) limit for the Plan Year, unless such limit
was exceeded solely because of the Member’s participation in this Plan, without considering any other plan.
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Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009