Benefits Account definition

Benefits Account means an account maintained on the books of the Employer for each Participant in accordance with Article VII for the purpose of recording the Participant’s Benefit Contributions. A subaccount shall be established hereunder with respect to each Benefit Option elected by a Participant.

Benefits Account means an account maintained on the books of the Employer for each Participant in accordance with Article IV for the purpose of recording the Participant’s contributions to this Health FSA.

Benefits Account means the checking account owned by the Foundation (currently at the XxXxxxx Savings Bank and known as checking account number 1020004055), referred to as the “Benefits Account” and sometimes referred to as the “Blues, Brews & Barbecue Account”, and shall also mean any successor account.

Examples of Benefits Account in a sentence

• The Plan Administrator may at any time and from time to time remove any one or more Employees or group(s) or class(es) of Employees from eligibility for participation in this Plan, provided that in no event shall any such removal reduce the amount theretofore credited to the Benefits Account of any Participant.

• If a Participant elects a Benefit Option as identified in Exhibit A, the Participant’s cash compensation will be reduced by the amount the Participant specifies (subject to any applicable limits imposed by the Plan Administrator or otherwise), or by the amount the Plan Administrator specifies as the Participant’s cost of the Benefit Option, and an amount equal to the reduction will be credited to the appropriate subaccount established under the Participant’s Benefits Account.

• The Board shall submit an annual report to City Council and the council Auditors on the beginning balance, additions, deductions and ending balance of the Enhanced Benefits Account.

• Therefore, the Enhanced Benefits Account is recognized for the purpose of holding Uncommitted Chapter Funds, until an assignment of those funds is made to provide Enhanced Benefits to fund future costs of new enhanced benefits, at which time the appropriate amount of funds in the Enhanced Benefits Account will be transferred to the Base Benefit Fund.

• The Base Benefits Fund shall exclude the Enhanced Benefits Account and the City Budget Stabilization Account.

• The funds shall include the Base Benefits Fund, the Enhanced Benefits Account, and the City Budget Stabilization Account.

• An employee, who by reason of failing to report a change in dependents, receives a City payment greater than the amount to which he/she is entitled shall be liable for refunding the excess amounts received via a reduction in the amount paid to his/her Flexible Benefits Account.

• Each employee shall be responsible for providing immediate written notification to the Human Resources Department of any change to the number of his/her dependents which affects the amount of the City payment to the Flexible Benefits Account.

• Those past and future Chapter Funds that have not been assigned to the Base Benefits Account or a specific reserve account, or which have not been committed to the fund Enhanced Benefits.

• To that end, the employer contribution will be deducted from the Member Surplus in the 1959 Survivor Benefits Account until such time as that account is exhausted.

More Definitions of Benefits Account

Benefits Account. - means an administrative account established to track a Participant’s pre-tax contributions and payments for Plan Benefits.

Benefits Account means one or more sub accounts related to benefits available under a PLAN maintained for administrative pur- poses which are used to match your Transactions to the appropri- ate available benefit election under your PLAN.

Benefits Account shall have the meaning provided in Section 11.05(e).