Examples of Annual Employer Contribution in a sentence
For purposes of Code Section 409A, each Annual Employer Contribution will be treated as a separate payment.
The Annual Employer Contribution may be made periodically and the most that you can receive in reimbursement at one time will be your HRA balance at that time (subject to overall Cap), which is the sum of your accumulated employer contributions and the Carry Over amount.
For each such Schedule B Participant, in respect of each full year such Participant remains employed by the Company following such Participant’s designation as a Schedule B Participant, the Company shall contribute to an Account established or designated by such Participant the Annual Employer Contribution.
If an individual initially becomes a Participant solely as a result of the crediting of an Annual Employer Contribution Amount, such Participant shall make the appropriate elections relating to the distribution of such Amounts within 30 days after the end of the Plan Year with respect to which such Annual Employer Contribution Amount is credited.
A Participant, who has no vested interest in his Annual Employer Contribution Account or his Profit Sharing Contribution Account and no Section 401(k) Contribution Account or Rollover Account and who terminates service, shall be treated for purposes of (A) above as if he had received a distribution of the present value of his entire nonforfeitable interest as of the date of his termination of service.
If a Participant, who is not fully vested in his Annual Employer Contribution Account or his Profit Sharing Contribution Account, terminates service and receives a distribution of the present value of his entire nonforfeitable interest, then his forfeitable interest therein shall be forfeited immediately.
Each Annual Employer Contribution shall become vested and nonforfeitable in four equal installments on December 31 (the “Vesting Date”) of each of the four years following the year in respect of which the Annual Employer Contribution was made, provided that the Participant remains employed by the Company on the applicable Vesting Date.
Upon and after a Participant’s attainment of Normal Retirement Age, if he is then in the service of the Employer or an Affiliate, he shall have a nonforfeitable right to his Annual Employer Contribution Account and Profit Sharing Contribution Account.
If a Participant has not been an Employee for 5 consecutive Plan Years, then his forfeitable interest (at such time) in his Annual Employer Contribution Account and his Profit Sharing Contribution Account shall be forfeited.
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