415 allocation Issues

[VeryOldMan]

A 401(k) PSP plan for a PC has 2 owners, both over age 50, one makes $280,000 the other $220,000. There is 1 staff making $30,000 per year. Each owner defers $25,000 ( 401k + post 50) and the PC makes a contribution of 18% to all participants. Both owners want to get to $62,000 limit. The plan document (FIS  VS) says that an allocation to a participant that would make his total allocation exceed 415 is allocated to other participantslimited to the 415 limit and the excess is allocated to other participants in proportion to salary. 

So for Owner with $280,000 would get $62,000, the PSP portion of $50,400 is limited to $37,000 and the remaining $13,400 he can't get .that gets allocated to the other participants.  that's where I am stuck.The other owner would get his $25,000 plus no more than $37,000 pep and the balance get allocated to the employee.  This seems ok to me but am I missing something here?

[Bird]

You don't want to say everyone gets 18%.  You want to say the contribution is "79400" (which happens to be 37000+37000+5400).  If it's pro-rata then your plan language takes care of the rest.

[VeryOldMan]

So in that case the excess from the 1st Owner spills over to the other 2 which gets pro-rata allocation of that excess until it is fully allocated. That works in this case since the PSP cont is the last source of funds. Thanks.