Common use of Qualified Voluntary Contributions Clause in Contracts

Qualified Voluntary Contributions. A Participant may no longer make Qualified Voluntary Contributions to the Plan. Xxxxxxx already contributed may remain in the Plan until distributed to the Participant. Such amounts will be maintained in a separate account which will be nonforfeitable at all times. The account will share in the gains and losses of the Trust in the same manner as described at paragraph 5.5 of the Plan. No part of the Qualified Voluntary Contribution Plan account will be used to purchase life insurance. Subject to Article VIII, Joint and Survivor Annuity Requirements (if applicable), the Participant may withdraw any part of the Qualified Voluntary Contribution account by making written application to the Plan Administrator.

Appears in 6 contracts

Samples: Defined Contribution Plan (FNB United Corp.), Defined Contribution Plan (Idt Corp), Defined Contribution Plan (Georgetown Bancorp, Inc.)

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Qualified Voluntary Contributions. A Participant may no longer make Qualified Voluntary Contributions to the Plan. Xxxxxxx Amounts already contributed may remain in the Plan until distributed to the Participant. Such amounts will be maintained in a separate account which will be nonforfeitable at all times. The account will share in the gains and losses of the Trust in the same manner as described at paragraph 5.5 of the Plan. No part of the Qualified Voluntary Contribution Plan account will be used to purchase life insurance. Subject to Article VIII, Joint and Survivor Annuity Requirements (if applicable), the Participant may withdraw any part of the Qualified Voluntary Contribution account by making written application to the Plan Administrator.

Appears in 2 contracts

Samples: Nonstandardized Adoption Agreement (Banctrust Financial Group Inc), Nonstandardized Adoption Agreement (Banctrust Financial Group Inc)

Qualified Voluntary Contributions. A Participant may no longer make Qualified Voluntary Contributions to the Plan. Xxxxxxx Amounts already contributed may remain in the Plan until distributed to the distributex xx xxe Participant. Such amounts will be maintained in a separate account which will be nonforfeitable at all times. The account will share in the gains and losses of the Trust in the same manner as described at paragraph 5.5 of the Plan. No part of the Qualified Voluntary Contribution Plan account will be used to purchase life insurance. Subject to Article VIII, Joint and Survivor Annuity Requirements (if applicable), the Participant may withdraw any part of the Qualified Voluntary Contribution account by making written application to the Plan Administrator.

Appears in 1 contract

Samples: Defined Contribution Plan (Thomasville Bancshares Inc)

Qualified Voluntary Contributions. A Participant may no longer make Qualified Voluntary Contributions to the Plan. Xxxxxxx Axxxxxx already contributed may remain in the Plan until distributed to the Participant. Such amounts will be maintained in a separate account which will be nonforfeitable at all times. The account will share in the gains and losses of the Trust in the same manner as described at paragraph 5.5 of the Plan. No part of the Qualified Voluntary Contribution Plan account will be used to purchase life insurance. Subject to Article VIII, Joint and Survivor Annuity Requirements (if applicable), the Participant may withdraw any part of the Qualified Voluntary Contribution account by making written application to the Plan Administrator.

Appears in 1 contract

Samples: Defined Contribution Plan (Century Bancorp Inc)

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Qualified Voluntary Contributions. A Participant may no longer make Qualified Voluntary Contributions to the Plan. Xxxxxxx Amounts already contributed may remain in the Plan Trust Fund/Custodial Account until distributed to the Participant. Such amounts will be maintained in a separate account which will be nonforfeitable at all times. The account will share in the gains and losses of the Trust in the same manner as described at paragraph 5.5 5.4 of the Plan. No part of the Qualified Voluntary Contribution Plan account will be used to purchase life insurance. Subject to Article VIII, Joint and Survivor Annuity Requirements (if applicable), the Participant may withdraw any part of the Qualified Voluntary Contribution account by making a written application to the Plan Administrator.

Appears in 1 contract

Samples: Adoption Agreement (Professionals Insurance Co Management Group)

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