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PARTICIPANT'S INDIVIDUAL ACCOUNT, INACTIVE PARTICIPANTS Sample Clauses

PARTICIPANT'S INDIVIDUAL ACCOUNT, INACTIVE PARTICIPANTSA Participant's Individual Account under this Contract shall, at any time, consist of a number of accumulation units equal to the number provided by the application of the net contributions described in Section 3.02 in accordance with the Plan, plus any additional units credited in accordance with Section 3.
PARTICIPANT'S INDIVIDUAL ACCOUNT, INACTIVE PARTICIPANTSA Participant's Individual Account under this Contract shall, at any time, consist of a number of accumulation units equal to the number provided by the application of the net contributions described in Section 3.02 in accordance with the Plan, plus any additional units credited in accordance with Section 3.08. If for any reason whatever, contributions cease for a Participant before his Annuity Commencement Date, the Contract Owner will notify VALIC as to the manner in which the then value of the Participant's Individual Account is to be disbursed. As of the day a Participant becomes an Inactive Participant, the number of accumulation units to be continued in his Individual Account shall be determined in accordance with instructions from the Contract Owner, and such number will remain constant until an annuity is purchased for such inactive Participant on his Annuity Commencement Date, except for any additional units credited in accordance with Section 3.08.

Related to PARTICIPANT'S INDIVIDUAL ACCOUNT, INACTIVE PARTICIPANTS

  • 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.

  • Individual Account An individual account is an account owned by you alone, which you as the account owner use during your lifetime.

  • Participants The Lender and its participants, if any, are not partners or joint venturers, and the Lender shall not have any liability or responsibility for any obligation, act or omission of any of its participants. All rights and powers specifically conferred upon the Lender may be transferred or delegated to any of the Lender's participants, successors or assigns.

  • Deferral Account Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Eligible Participants Families and individuals experiencing homelessness. For the purposes of the Program, families and individuals are considered to be homeless only when he/she/they lack(s) a fixed, regular and adequate nighttime residence and reside(s) in a place not meant for human habitation, such as cars, parks, sidewalks, abandoned buildings, motels, or other shelters, or for reference as further defined in 24 CFR Part 578.3 and 576.2.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

  • Participant See Section 7(a) hereof.

  • Individual Accounts An individual account is an account owned by one depositor including any individual, corporation, partnership, trust, or other organization qualified for Credit Union membership. If the account is an individual account, the interest of a deceased individual owner will pass, subject to applicable law, to the decedent’s estate or payable on death (“POD”) beneficiary, if applicable.

  • 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: