401(k) Rollover Sample Clauses

401(k) Rollover. As of the Distribution, the Honeywell Group shall permit each SpinCo Employee to elect, and the SpinCo Group shall cause the SpinCo 401(k) Plan to accept, in accordance with applicable Law and the terms of the Honeywell 401(k) Plans and the SpinCo 401(k) Plan, a rollover of the account balances (including earnings through the date of transfer and promissory notes evidencing all outstanding loans) of such SpinCo Employee under the Honeywell 401(k) Plans, if such rollover is elected in accordance with applicable Law and the terms of the Honeywell 401(k) Plan and by such employee. Upon completion of a transfer of the account balances of any SpinCo Employee, as described in this Section 9.02, SpinCo and the SpinCo 401(k) Plan shall be responsible for all Liabilities of the Honeywell Group under the Honeywell 401(k) Plan with respect to any SpinCo Employee or Former SpinCo Employee whose account balance was transferred to the SpinCo 401(k) Plan (and his or her respective beneficiaries), and the Honeywell Group and the Honeywell 401(k) Plan shall have no Liabilities to provide such participants (or any of their beneficiaries) with benefits under the Honeywell 401(k) Plan. In the event that the elections by SpinCo Employees pursuant to this Section 9.02 in connection with the Distribution result in a mass rollover, Honeywell and SpinCo shall use commercially reasonable efforts to cooperate to effect such mass rollover, including by exchanging any necessary participant records and engaging recordkeepers, administrators, providers, insurers and other third parties.
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401(k) Rollover. As of the Distribution, (a) the TWX Group shall permit (i) each Transferred To Time Employee who becomes a Time Employee following January 1, 2014 and (ii) each Time Employee and Salary Continuation Former Employee who receives a contribution to the TWX 401(k) Plan in accordance with Section 9.04, to effect, and the Time Group shall cause the Time 401(k) Plan to accept, and (b) the Time Group shall permit each Transferred To TWX Employee to effect, and the TWX Group shall cause the TWX 401(k) Plan to accept, in each case, in accordance with applicable law and the terms of the TWX 401(k) Plan and the Time 401(k) Plan, a rollover of the account balances (including earnings through the date of transfer and promissory notes evidencing all outstanding loans) of such Employee under the TWX 401(k) Plan and the Time 401(k) plan, as applicable, if such rollover is elected in accordance with applicable law and the terms of the TWX 401(k) Plan and the Time 401(k) Plan by such Employee, as applicable. Upon completion of a transfer of the account balances of any Employee, as described in this Section 9.03, except as specifically set forth in Section 9.04, (A) Time and/or the Time 401(k) Plan will be responsible for all Liabilities of the TWX Group under the TWX 401(k) Plan with respect to any Employee whose account balance was transferred to the Time 401(k) Plan (and his or her respective beneficiaries), and the TWX Group and the TWX 401(k) Plan shall have no Liabilities to provide such participants (or any of their beneficiaries) with benefits under the TWX 401(k) Plan, and (B) TWX and/or the TWX 401(k) Plan will be responsible for all Liabilities of the Time Group under the Time 401(k) Plan with respect to any Employee whose account balance was transferred to the TWX 401(k) Plan (and his or her respective beneficiaries), and the Time Group and the Time 401(k) Plan shall have no Liabilities to provide such participants (or any of their beneficiaries) with benefits under the Time 401(k) Plan.
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401(k) Rollover. As soon as reasonably practicable following the Closing, (a) Buyer shall permit each Acquired Company employee who continues employment with the Acquired Companies or Buyer after Closing to elect to rollover his or her account balance or balances under the defined contribution plan maintained by the Seller that includes a qualified cash or deferred arrangement within the meaning of Section 401(k) of the Code (the “Seller 401(k) Plan”), and Buyer shall cause the defined contribution plan maintained by Buyer that includes a qualified cash or deferred arrangement within the meaning of Section 401(k) of the Code (the “Buyer 401(k) Plan”) to accept such rollover (including earnings through the date of transfer and promissory notes evidencing all outstanding loans), in each case in accordance with applicable Law and the terms of the Buyer 401(k) Plan and the Seller 401(k) Plan, if such rollover is elected by such employee in accordance with applicable Law and the terms of such plans. The Seller shall use commercially reasonable efforts to cooperate to effect such transfers, including by exchanging any necessary participant records and engaging recordkeepers, administrators and other third parties. Effective as of no later than the Closing Date, the Acquired Companies shall cease to be participating employers in the Seller 401(k) Plan.
Sample 1
401(k) Rollover. Effective as of the Closing Date, employees of the Companies ("Company Employees") who are participants in the TRM International, Inc. Savings and Profit Sharing Plan (the "TRM 401(k) Plan") shall cease to be eligible for any future contributions to the TRM 401(k) Plan, shall have a fully vested and nonforfeitable interest in their account balances thereunder, and shall be entitled to a distribution of their account balances under the TRM 401(k) Plan in accordance with and to the extent permitted by Code Section 401(k)(10) and other applicable provisions of the Code. Company Employees who receive an eligible rollover distribution (within the meaning of Section 402(f)(2) of the Code, including a direct rollover distribution with the meaning of Section 401(a)(31) of the Code) from the TRM 401(k) Plan shall, subject to the provisions of Section 402 of the Code, be eligible to make a rollover contribution to the Reliance Standard Life Insurance Company Retirement Savings (401(k)) Plan or to another defined contribution plan of Delphi or its affiliates (the "Buyer's 401(k) Plan"). To the extent that a direct rollover distribution, within the meaning of Section 401(a)(31) of the Code, is made, such rollover contribution may include promissory notes for loans made to Company Employees under the terms of the TRM 401(k) Plan, provided such rollovers are permitted by applicable provisions of the plans. Service by Company Employees under the TRM 401(k) Plan shall be recognized under the Buyer's 401(k) Plan for purposes of the eligibility to participate and vesting.
Sample 1
401(k) Rollover. Notwithstanding any other provision contained in this Agreement, Buyer may elect, upon written notice to the Company prior to the Closing, to have the Company, contingent upon the consummation of the Closing, terminate the Company 401(k) Plan, effective immediately prior to the Closing. In such event, Buyer will, and will cause Buyer’s 401(k) Profit Sharing Plan and Trust (the “Buyer’s 401(k) Plan”) to accept the direct rollover, as selected by each Affected Employee, of that portion of the Affected Employees’ accounts in the Florida Health Plan Administrators, LLC Retirement Savings Plan and Trust (the “Company 401(k) Plan”) that constitutes an “eligible rollover distribution” as that term is defined by section 402(c)(4) of the Code, provided that at the time an Affected Employee elects such a rollover that Affected Employee is employed by Buyer. Any such rollover will be effected in cash from the Company 401(k) Plan to the Affected Employee electing such rollover. Buyer and the Sellers will, and will cause the trustees of their respective 401(k) plans to, cooperate with each other with respect to the rollover of the eligible rollover distribution portions of the Affected Employees’ account balances in the Company 401(k) Plan to Buyer’s 401(k) Plan.
Sample 1

Related to 401(k) Rollover

  • Rollover □ Rollover of a withdrawal from another Traditional IRA or of an eligible rollover distribution from an employer qualified plan, 403(b) arrangement or eligible 457 plan. Check enclosed in the amount of $ . [If this rollover contribution constitutes all or part of either a withdrawal from another Traditional IRA or an eligible rollover distribution from an employer qualified plan or 403(b) arrangement, and if it includes any after-tax (or nondeductible) contributions to such other Traditional IRA or employer qualified plan or 403(b) arrangement, indicate the amount of after-tax contributions included in this rollover contribution: $ .]

  • Rollover Contributions Generally, a rollover is a movement of cash or assets from one retirement plan to another. If you are required to take minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Both the distribution and the rollover contribution are reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. IRA-to-IRA Rollover: You may withdraw, tax free, all or a portion of your Traditional IRA if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Traditional IRA as a rollover. To complete a rollover of a SIMPLE IRA distribution to your Traditional IRA, at least two years must have elapsed from the date on which you first participated in any SIMPLE IRA plan maintained by the employer, and you must contribute the distribution within 60 days from the date you receive it. Only one IRA distribution within any 12-month period may be rolled over in an IRA-to-IRA rollover transaction. The 12-month waiting period begins on the date you receive an IRA distribution that you subsequently roll over, not on the date you complete the rollover transaction. If you roll over the entire amount of an IRA distribution (including any amount withheld for federal, state, or other income taxes that you did not receive), you do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents basis) and may be, if you are under age 59½, subject to the premature distribution penalty tax. Employer Retirement Plan-to-Traditional IRA Rollover (by Traditional IRA Owner): Eligible rollover distributions from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Traditional IRA. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that may not be rolled over to your Traditional IRA include any required minimum distributions, hardship distributions, any part of a series of substantially equal periodic payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover from an employer plan to your Traditional IRA, you must generally instruct the plan administrator to send the distribution to your Traditional IRA Custodian. To complete an indirect rollover to your Traditional IRA, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution to complete an indirect rollover. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents after-tax contributions) and may be, if you are under age 59½, subject to the premature distribution penalty tax. If you choose the indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the full amount. If you do not make up the withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Conduit IRA: You may use your IRA as a conduit to temporarily hold amounts you receive in an eligible rollover distribution from an employer’s retirement plan. Should you combine or add other amounts (e.g., regular contributions) to your conduit IRA, you may lose the ability to subsequently roll these funds into another employer plan to take advantage of special tax rules available for certain qualified plan distribution amounts. Consult your tax advisor for additional information. Employer Retirement Plan-to-Traditional IRA Rollover (by Inherited Traditional IRA Owner): Please refer to the section of this document entitled “Inherited IRA”. Traditional IRA-to-Employer Retirement Plan Rollover: If your employer’s retirement plan accepts rollovers from IRAs, you may complete a direct or indirect rollover of your pre-tax assets in your Traditional IRA into your employer retirement plan. If you are required to take minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Rollover of Exxon Xxxxxx Settlement Income: Certain income received as an Exxon Xxxxxx qualified settlement may be rolled over to a Traditional IRA or another eligible retirement plan. The amount contributed cannot exceed the lesser of $100,000 (reduced by the amount of any qualified settlement income contributed to an eligible retirement plan in prior tax years) or the amount of qualified settlement income received during the tax year. Contributions for the year can be made until the due date for filing your return, not including extensions.

  • Direct Rollover A direct rollover is a payment by the Plan to the eligible retirement plan specified by the distributee.

  • Direct Rollovers The Plan will accept a direct rollover of an eligible rollover distribution from: (Check each that applies or none.)

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • EMPLOYEE CONTRIBUTIONS (a) Each participant shall be allowed to contribute on a bi-weekly basis up to an amount equal to eighty percent (80%) of the Participant’s wage. Such bi-weekly wage deductions shall be in increments of one percent (1%) and shall be contributed to the Participant’s account. The participant may contribute on a pre-tax, after-tax, Xxxx basis or any combination.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • Qualified Nonelective Contributions If the Employer, at the time of contribution, designates a contribution to be a qualified nonelective contribution for the Plan Year, the Advisory Committee will allocate that qualified nonelective contribution to the Qualified Nonelective Contributions Account of each Participant eligible for an allocation of that designated contribution, as specified in Section 3.04 of the Employer's Adoption Agreement. The Advisory Committee will make the allocation to each eligible Participant's Account in the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all eligible Participants for the Plan Year. The Advisory Committee will determine a Participant's Compensation in accordance with the general definition of Compensation under Section 1.12 of the Plan, as modified by the Employer in Sections 1.12 and 3.06 of its Adoption Agreement.

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

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