Education Account. The Education Account The Education Trust Fund For 2008 the net income that was paid to Dehcho First Nation was $40,236.72 For 2007 the net income that was paid to Dehcho First Nation was $36,282.25 The IMB Accounts The Land Acquisition Trust Fund In accordance with the Master Trust dated March 8th, 2006. No funds are to paid out of this account until December 31, 2031. On December 31, 2031 the Land Acquisition account is to be established and 25% of the increase in the value of the Fund allocated every twenty five years. Income Income in the Fiscal Years 2006, 2007, 2008 Income Income Fiscal year 2006 Settlement Capital from Canada: $10,000,000.00 Income from Authorized Investments: $ 60,316.49 Total Income for 2006: $10,060,316.49 Income Fiscal Year 2007 Settlement Capital from Canada: $5,000,000.00 Income from Authorized Investments: $ 514,999.98 Total Income for 2007: $5,514,999.98 Income Fiscal Year 2008 Authorized Investments Secondary Income $563,754.38 $9,580.25 $573,334.63 Secondary Income Secondary Income 2006 In accordance with the Fall Leadership Meeting of October 9 -12, 2007, Resolution #07 the Secondary Income to be paid out for 2006 to the Dehcho First Nation and then resettled on the trust is $1,633.91. The funds are to be taken on a pro rata basis from all the accounts and returned on a pro –rata basis to all the accounts. Secondary Income 2007 In accordance with the Fall Leadership Meeting of October 9 -12, 2007, Resolution #07 the Secondary Income to be paid out for 2007 to the Dehcho First Nation and then resettled on the trust is $7,946.34. The funds are to be taken on a pro rata basis from all the accounts and returned on a pro –rata basis to all the accounts. Secondary Income 2008 Mackay LLP calculated the loss on secondary income to be (-$198.39) after fees, expense and foreign withholdings. Expenditures Expenditures in the Fiscal Years 2006, 2007, 2008 Expenditures Investment Management* $ 94,071.75 Trustees fees* $ 21,031.48 IMB Expenses $ 3,600.00 Foreign tax withheld $ 3,725.48 Total expenditures for 2007 $122,430.71 Investment Management* Trustees fees* Accountant (MacKay) IMB Expenses Lawyers (Xxxxxx and Xxxxx)* Overdraft fees Secondary Income Distribution income Education $110,058.73 (Income) $ 20,874.40 (Income) $ 16,147.25 (Capital) $ 34,377.39 (Capital) $ 24,189.02 (Capital) $ 12.13 (Income) $ 9,580.25 (Income) $ 36,282.25 (Income) Total expenditures for 2008 $251,521.42 Excess of Income Over Expenditures Excess of Income...
Education Account. A bookkeeping subaccount which is a payment alternative to the Fixed Date Account established pursuant to section 5.l(b).
Education Account. If a Participant who has established a subaccount in his/her Education Account for an Eligible Dependent remains continuously employed by a Participating Company until January 1st of the year in which the Eligible Dependent reaches an age set forth below, the Plan Sponsor shall pay to the Participant during the Annual Distribution Period for that year a benefit determined as follows: Age Eligible Dependent Will Attain During Year Percent of Eligible Dependent's Subaccount 18 25 % 19 33 % 20 50 % 21 remainder In the event an Eligible Dependent, with respect to whom an Education Account is maintained, dies prior to the payment of the balance to the credit of such Education Account, then the Plan Sponsor shall pay an amount equal to the remaining balance to the credit of such Education Account to the Participant within a reasonable time following receipt of proof of such death.
Education Account. A. If a Participant does not incur a Termination of Service prior to January 1 of the calendar year in which an Eligible Student of the Participant attains a Determination Age, the Employer shall pay to the Participant a benefit, as soon as administratively possible, determined as follows: Eligible Student's Percentage of Eligible Determination Age Student's Subaccount 18 25% 19 33% 20 50% 21 100%
