Suballocation Within the Deferred Benefit Accounts Sample Clauses

Suballocation Within the Deferred Benefit Accounts. A. In the event a Participant shall allocate a portion of his anticipated contributions to his Retirement Account, he may, during each applicable Enrollment Period, direct that portion of his - contributions to (i) a lump sum subaccount or to (ii) one of three installment subaccounts. Each Participant may have only one such Retirement subaccount at any one time. Participant may direct the transfer of the balance in one such subaccount to another such subaccount at any time prior to the Participant's Retirement, provided that no such transfer may be made during the 12-month period immediately prior to the Participant's Retirement, and, if such transfer is 10/1/98 13 subsequently determined to have been made during such 12-month period, such transfer shall be void and without force or effect and the last prior valid selection of a Retirement subaccount shall govern. The lump sum subaccount will be paid out in a lump sum within ninety (90) days of Retirement, and the installment subaccount will be paid in five (5), ten (10) or fifteen (15) annual installments, all pursuant to Section 6.1. In the absence of such designation, contributions for that Plan Year will be paid out in a lump sum.
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Related to Suballocation Within the Deferred Benefit Accounts

  • Beneficiary Rollovers from Employer-Sponsored Retirement Plans If you are a spouse Beneficiary, nonspouse Beneficiary, or the trustee of an eligible type of trust named as Beneficiary of a deceased employer plan participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan to an inherited IRA. The IRA must be maintained as an inherited IRA, subject to the beneficiary distribution requirements.

  • Tax-Deferred Earnings The investment earnings of your IRA are not subject to federal income tax until distributions are made (or, in certain instances, when distributions are deemed to be made).

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

  • Company Contributions (a) For employees hired, rehired or who become covered under the CWA 3176 Agreement through any means before January 1, 2016, the Company shall contribute a Company Matching Contribution equal to 25 percent of the Participant’s Contribution up to a maximum of 6 percent of eligible wage.

  • Tax Deferred Annuities The Board of Directors for the District shall provide and pay for such tax deferred annuities pursuant to RCW 28A.400.250 as the union shall request and the Board of Directors shall authorize. Payment for said annuities shall be at the option of the employee and deducted from the monthly salary as authorized by the individual employee.

  • 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.

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

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