Plan account Clause Samples
A Plan Account clause defines the establishment and management of a dedicated account for a specific plan, such as a retirement or employee benefit plan. This clause typically outlines how contributions are deposited, how funds are tracked, and who is responsible for administering the account. By clearly specifying the procedures and responsibilities related to the plan account, the clause ensures proper handling of plan assets and helps prevent mismanagement or commingling of funds.
Plan account. If an employee shall die after having satisfied the requirements of Subsection D of this Article, the deceased employee’s 401(a) Plan account shall be distributable to the decedent’s designated beneficiary or to his or her estate if no beneficiary designation has been made. At no time may a participant borrow from his 401(a) Plan account.
Plan account. If a teacher shall die after having satisfied the applicable vesting requirements, the deceased teacher’s Matching 401(a) Plan account shall be distributable to the decedent’s designated beneficiary or to his/her estate if no beneficiary designation has been made. (At no time may a participant borrow from his/her 401(a) Plan account.)
Plan account. If a teacher shall die, the deceased teacher’s 401(a) Plan account shall be distributed to the decedent’s designated beneficiary or to his/her estate if no beneficiary designation has been made. At no time may a participant borrow from his/her 401(a) Plan account.
Plan account. Stillwater National shall establish and maintain the Plan Account for the benefit of the Executive or for the benefit of his designated beneficiary upon the death of the Executive, and shall credit the account with contributions and earnings and debit the account for distributions, as described in this Plan.
Plan account. Upon execution of this Agreement, Employer shall establish, maintain and fund a Plan Account. All benefits shall be paid from the Plan Account and Employer shall ensure that the Plan Account is and remains adequately funded to satisfy the payment of all Benefit Options. As Plan Fiduciary, Employer shall be responsible for the Plan Account, including but not limited to, any and all reporting requirements associated therewith, as well as the disposition of excess Plan Account assets in accordance with relevant state and federal laws, rules, and regulations.
Plan account. The Company shall establish an account on the books of the Company (an “Account”) for the Participant and shall credit the Participant’s Account with the RSUs.
Plan account. If a teacher retires or otherwise terminates employment before satisfaction of the applicable vesting requirements, for any reason, the terminated teacher’s 401(a) Plan account(s) shall be forfeited. The forfeited amounts shall not be returned to the Corporation. Instead, forfeited Buyout Accounts shall be reallocated at the end of each plan year only among the then remaining separate Buyout Accounts of the Older Teachers in the same manner as was used by ESC in originally determining the present value of the unfunded Target Benefits. Forfeited Target Benefit accounts and other forfeited 401(a) Plan accounts shall be reallocated in such manner as established in the underlying 401(a) Plan.
Plan account. PHP TPA Services shall establish and maintain a checking account for the Plan. PHP TPA Services shall disburse funds from the Account for the purpose of satisfying covered benefits or claims, to pay the fees as set forth on the fee schedule and to make such other payments or disbursements as are consistent with the terms of the Plan and Agreement. All claims processed by PHP TPA Services shall only be paid on drafts authorized by the Plan Sponsor.
Plan account. The Company shall maintain a plan account for the Plan Participants in the Stock Purchase Plan, to which are credited the payroll deductions made for such Plan Participant pursuant to Section 6 and from which are debited amounts paid for the purchase of shares.
Plan account. 38 4.2 Vesting.................................................................38 4.3