Financial Institutions Retirement Fund Sample Clauses

Financial Institutions Retirement Fund. The accrual of participants' benefits under SCSB's Financial Institutions Retirement Fund ("SCSB Retirement Plan") shall be frozen effective as of December 31st of the year in which the Effective Time occurs, and all accrued benefits of participants in the SCSB Retirement Plan shall thereupon become fully vested. To the extent permitted by the SCSB Retirement Plan and applicable law, the accrued benefit of each participant in the SCSB Retirement Plan shall be held and remain under the SCSB Retirement Plan and shall be payable at the time(s) and in the forms provided for under that plan. Blue River shall be responsible for the withdrawal of SCSB from the SCSB Retirement Plan and for making any required or appropriate application to the Service for a determination letter to the effect that such withdrawal does not adversely affect the tax-qualified status of such plan and for providing any notices to the Pension Benefit Guaranty Corporation or other governmental entity regarding the withdrawal. SCSB shall make contributions to the SCSB Retirement Plan through the date of such withdrawal only to the extent required to maintain the plan's tax-qualified status and avoid any federal income taxes or penalties attributable to the plan's funding status.
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Financial Institutions Retirement Fund. Established December 1, 1943 A non-profit, XXX qualified, tax-exempt, pension plan and trust through which Federal Home Loan Banks, Savings and Loan Associations and similar institutions, or any other federally insured financial institutions (including those organizations serving them) may cooperate in providing for the retirement of their employees. These Regulations, including the Appendices attached hereto, contain the governing provisions of the Fund's Comprehensive Retirement Program, a plan which provides retirement and death benefits. All contributions to the Fund are commingled, and all assets of the Fund are invested on a pooled basis, without allocation to individual employers or employees. All amounts payable by the Fund are a general charge upon all of its assets.
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Related to Financial Institutions Retirement Fund

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

  • Retirement Accounts With respect to certain retirement plans or accounts (such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, Education IRAs, and 403(b) Plans (such accounts, “Retirement Accounts”), the Transfer Agent, at the request and expense of the Fund, provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial agent services such as account set-up maintenance, and disbursements as well as such other services as the parties hereto shall mutually agree upon.

  • SIMPLE Individual Retirement Custodial Account (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement:

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • EEA Financial Institutions No Loan Party is an EEA Financial Institution.

  • Xxxx Individual Retirement Custodial Account The following constitutes an agreement establishing a Xxxx XXX (under Section 408A of the Internal Revenue Code) between the depositor and the Custodian.

  • Affected Financial Institutions No Loan Party is an Affected Financial Institution.

  • FINANCIAL INSTITUTION’S LIABILITY Liability for failure to make transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the member who is covered under a high deductible health plan. The member must be covered under the HSA plan for the months in which contributions are made. HIGH DEDUCTIBLE HEALTH PLAN (HDHP) is a health plan that satisfies certain requirements with respect to deductibles and out-of-pocket expenses. The plan cannot provide payment for any covered healthcare service until the plan year deductible is satisfied, with the exception of preventive care services. • that provides medical and surgical care for patients who have acute illnesses or injuries; and • is either listed as a hospital by the American Hospital Association (AHA) or accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO).

  • Health Spending Account contributions by the Executive will cease on the Effective Date. The Executive may submit claims against the balance accrued to the Effective Date, until the end of the calendar year in which the Effective Date occurs.

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