Accumulated Employee Contributions definition

Accumulated Employee Contributions means the sum of all amounts deducted from a member's salary and paid to the fund.

Accumulated Employee Contributions means the total of employee contributions under the Plan as provided for in Section 3.02 plus interest at the rate of five percent (5%) compounded annually from the first day of the Plan Year following the date such contributions were made, to the first day of the month in which employment terminates. Accumulated Employee Contributions shall include contributions made by the Employee that have been transferred from the Washington Metropolitan Area Transit Authority Retirement Plan together with credited interest thereon.

Accumulated Employee Contributions means the sum of all amounts credited to a Participant’s individual account in the reserve for Accumulated Employee Contributions.

Examples of Accumulated Employee Contributions in a sentence

• Withdrawals from the Accumulated Employee Contributions Benefit are not permitted prior to termination of employment.

• The Accumulated Employee Contributions Benefit shall be fully Vested at all times.

• The Employee Mandatory Contributions shall be credited to the Participant's Accumulated Employee Contributions Benefit.

• A Participant's Accrued Benefit derived from Employee Contributions shall be equal to the Accumulated Employee Contributions Benefit and Employee Mandatory Contribution Benefit.

• A Participant's Accrued Benefit derived from Employer contributions is the excess, if any, of the total Accrued Benefit over the Accumulated Employee Contributions Benefit derived from Voluntary Employee Contributions and Employee Mandatory Contributions.

• A Participant's Accrued Benefit derived from Employee Contributions shall be equal to the Accumulated Employee Contributions Benefit.

• In the event all benefit payments under the Plan terminate (i.e., upon the Retiree’s death) before there has been paid an aggregate amount equal to the Retiree’s total Accumulated Employee Contributions made to the Plan, the difference between the Retiree’s total Accumulated Employee Contributions and the aggregate amount of benefit payments made shall be paid to the Retiree’s Beneficiary in a lump sum payment.

• Accumulated Employee Contributions shall be transferred to the reserve for retired benefit payments upon the retirement or death of the Participant or Vested Terminated Participant, provided the Participant or Vested Terminated Participant is entitled to a retirement benefit under the Plan or the Beneficiary of the Participant or Vested Terminated Participant is entitled to a death benefit under the Plan.

• A Participant who does not have vested benefits who has a Severance from Employment shall be paid his Accumulated Employee Contributions, plus interest awarded in accordance with Article 15, in a lump sum payment upon submitting a written request to the Board of Trustees.

• If a Participant ceases to work for the Authority at any time and for any reason prior to the date on which such Participant has met the age, service, and other requirements essential for a Normal Retirement Pension, a Disability Retirement Pension, an early Retirement Pension, a Vested Pension, or a Dependent Pension, such Participant (or such Participant’s beneficiary) shall be eligible to receive the Participant’s Accumulated Employee Contributions.

More Definitions of Accumulated Employee Contributions

Accumulated Employee Contributions means Participant contributions made pursuant to Article IV of the Plan.

Accumulated Employee Contributions means Participant contributions made pursuant to Article IV.

Accumulated Employee Contributions means the required contributions paid by any Member as provided in Section 6.2 or credited to the Member pursuant to Section 6.1(b), together with any interest allowed thereon under this Plan or previous City

Accumulated Employee Contributions means the sum of all amounts deducted from a member's salary, paid to the fund, and credited to the individual employee’s account in the fund.