overcontribution

Definition

The amount of contribution made to a qualified retirement plan that is in excess of the maximum allowable amount in a specified period of time as determined by prevailing laws and guidelines. Depending on the type of plan and the rules governing them, the excess contribution may be subject to a penalty.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
overcharge overdraft