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We just received a check for excess contributions to my husband's 401k in 2007 due to his employer failing the test for benefiting highly compensated employees.

The excess was removed from his account on 12/5/08 when the value of the mutual funds was much less than the value of the mutual funds at any time during 2007.

The statement that he received shows that he has a gain of about 7%. Over what time period would this gain or loss have been calculated?
If it was the time that the excess contributions were in the account (the end of 2007 - 12/5/08) this can't possibly be correct.
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