PARTICIPANT'S INDIVIDUAL ACCOUNT, INACTIVE PARTICIPANTS Sample Clauses

PARTICIPANT'S INDIVIDUAL ACCOUNT, INACTIVE PARTICIPANTS. A 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.
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Related to PARTICIPANT'S INDIVIDUAL ACCOUNT, INACTIVE PARTICIPANTS

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

  • Employee Participants 2.01 ELIGIBILITY.

  • 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 Any reference to “

  • Participant See Section 7(a) hereof.

  • Individual Accounts The Advisory Committee will maintain, or direct the Trustee to maintain, a separate Account, or multiple Accounts, in the name of each Participant to reflect the Participant's Accrued Benefit under the Plan. If a Participant re-enters the Plan subsequent to his having a Forfeiture Break in Service, the Advisory Committee, or the Trustee, must maintain a separate Account for the Participant's pre-Forfeiture Break in Service Accrued Benefit and a separate Account for his post-Forfeiture Break in Service Accrued Benefit, unless the Participant's entire Accrued Benefit under the Plan is 100% Nonforfeitable. The Advisory Committee will make its allocations, or request the Trustee to make its allocations, to the Accounts of the Participants in accordance with the provisions of Section 9.11. The Advisory Committee may direct the Trustee to maintain a temporary segregated investment Account in the name of a Participant to prevent a distortion of income, gain or loss allocations under Section 9.11. The Advisory Committee must maintain records of its activities.

  • Participant Contributions If Participant contributions are permitted, complete (a), (b), and (c). Otherwise complete (d).

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

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