Class Year Account definition

Class Year Account means the sub-accounts set up for the Primary Account and Company Contribution Account for each Class Year.
Class Year Account means each of a Participant’s Subaccounts, plus Earnings thereon for each Plan Year that a contribution is made (e.g., 2007 Deferral Contributions Account).
Class Year Account means the balance credited to a Participant’s or Beneficiary’s Account for a Taxable Year, including the Participant’s Compensation Deferrals relating to Compensation paid for services performed during the Plan Year, Matching Credits earned for services performed during the Taxable Year (if elected by the Plan Sponsor in the Adoption Agreement), Discretionary Credits earned for services performed during the Taxable Year (if elected by the Plan Sponsor in the Adoption Agreement), and Investment Debits and Credits allocable to the Class Year Account (as determined by the Plan Sponsor, in its discretion).

Examples of Class Year Account in a sentence

  • If a Participant elects installments, the amount of each payment shall be equal to the value, as of the preceding Valuation Date, of the Participant’s Class Year Account, divided by the number of installments remaining to be paid.

  • A lump sum distribution shall consist of a single distribution of the entire value of the Employee’s Pre-2000 or Class Year Account (unless the Employee elects to apply the election to only the portion of the Account that is deemed to be invested in TCF Stock or to only the portion of the Account that is deemed to be invested in assets other than TCF Stock) on or about 30 days after the later of the Employee’s Distribution Event or the date on which the Employee’s election is filed with TCF Financial.

  • If the Employee subsequently elects to have Section 5.c. apply to the Class Year Account, however, then distribution shall be in the form of a lump sum.

  • If a Participant elects installments, the amount of each payment shall be equal to the value, of the preceding Valuation Date, of the Participant’s Class Year Account, divided by the number of installments remaining to be paid.

  • Effective on and after January 1, 2014, Matching Contributions attributable to a given calendar year/Deferral Period shall be made to the Participant’s applicable Class Year Account.

  • Subject to Section 5.9, benefits payable from the applicable Class Year Account shall commence within sixty (60) days following the earlier of (i) date of the Participant’s Termination of Employment or (ii) the date-certain distribution date elected by the Participant, and subsequent payments, if the Form of Payment selected provides for subsequent payments, shall be made on each subsequent anniversary date of the first payment.

  • A Participant shall be one hundred percent (100%) vested at all times in the amount of Matching Contributions made, if any, to the Participant’s Matching Account (or, effective on and after January 1, 2014, the applicable Class Year Account), including any Interest thereon.

  • Effective on and after January 1, 2014, for each calendar year/Deferral Period, a Participant shall have all Compensation deferred by the Participant (and Interest thereon) for a given calendar year/Deferral Period and all Company contributions attributable to such calendar year/Deferral Period (and Interest thereon) credited to the Participant’s applicable Class Year Account.

  • The vested portion of each applicable Class Year Account of a Participant shall be distributed to the Participant upon the earlier of (i) the Participant’s Termination of Employment with the Company or (ii) a date-certain distribution date, as elected by the Participant.

  • The amount to be paid for a Class Year Account or Class Year SEU Award Account on a Payment Event Date will be calculated as of the applicable Payment Event Date pursuant to Section 6 above through such applicable Payment Event Date.


More Definitions of Class Year Account

Class Year Account means each of a Participant’s Subaccounts, plus Earnings thereon for each Plan Year that a contribution is made (e.g., 2011 Elective Deferral Contributions Account, 2012 Discretionary Contributions Account, etc.).
Class Year Account means, with respect to a specific Plan Year, the aggregate amount credited to a Participant’s Account for that Plan Year, and as adjusted to reflect the applicable hypothetical earnings, other adjustments, withdrawals and distributions. For recordkeeping purposes, two or more of a Participant’s Class Year Accounts with the same time and form of payment may be aggregated and treated as one Class Year Account.
Class Year Account means the bookkeeping account maintained for each Participant to record the amount of Bonus deferred by a Participant in accordance with Article 3, adjusted pursuant to Article 4 and with respect to an individual who became a Participant on the Effective Date and who immediately prior to the Effective Date was a participant in the Predecessor Plan, the amounts deferred under Article 3 of the Predecessor Plan on or after January 1, 2017 by such Participant adjusted pursuant to Article 4. As of such date, a Class Year Account replaces in all aspects, and fulfills the same purpose as, the previous In Service Account and Retirement/Termination Account. A Class Year Account is a separate annual account for all moneys contributed by an Eligible Employee and Xylem during the period of January 1 until December 31st for the calendar year 2017 as well as Xylem contributions that are paid after the year ends but are in reference to the relevant year. The Eligible Employee may elect their allocation election to the investment options offered in the Plan.
Class Year Account means, with respect to a Plan Year, the aggregate amount credited to a Participant’s Account for that Plan Year, including deemed income, gains and losses (as determined by the Plan Sponsor, in its discretion) credited thereto. A Class Year Account shall be determined as of the date of reference.
Class Year Account means the sub-account of a Participant’s Account that reflects the amount of Salary or Bonus deferred by the Participant for a particular Plan Year (and investment earnings and losses thereon). For a given Plan Year, a Participant who elects to defer both Salary and Bonus for a Plan Year shall therefore have two Class Year Accounts for that Plan Year because the Plan allows a Participant to elect different Deferral Periods and different forms of payment for each respective deferral of each Plan Year’s Salary or Bonus.

Related to Class Year Account

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Regular account means the account established for each active and inactive member un-

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Class Year Study means a Class Year Interconnection Facilities Study as that term is defined in OATT Section 25 (OATT Attachment S).

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Class PO Deferred Amount As to any Distribution Date, the aggregate of the applicable PO Percentage of each Realized Loss, other than any Excess Loss, to be allocated to the Class PO Certificates on such Distribution Date on or prior to the Senior Credit Support Depletion Date or previously allocated to the Class PO Certificates and not yet paid to the Holders of the Class PO Certificates.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.

  • Share Account A form of Deposit Account that each member is required to maintain to remain a member of BECU. We, us, our: BECU. You, your: Each person or entity, individually, and collectively, who opens, establishes, accesses, is named as an Account Holder or Authorized Signer or who applies for any Account.

  • Class A-PO Deferred Amount For any Distribution Date prior to the Subordination Depletion Date, the difference between (A) the sum of (x) the amount by which the sum of the Class A-PO Optimal Principal Amounts for all prior Distribution Dates exceeded the amounts distributed on the Class A-PO Certificates on such prior Distribution Dates pursuant to Paragraph third clause (2) of Section 4.01(a) and (y) the sum of the product for each Discount Mortgage Loan which became a Liquidated Loan at any time on or prior to the last day of the Applicable Unscheduled Principal Receipt Period for Full Unscheduled Principal Receipts for the current Distribution Date of (a) the PO Fraction for such Discount Mortgage Loan and (b) an amount equal to the principal portion of Realized Losses (other than Bankruptcy Losses due to Debt Service Reductions) incurred with respect to such Discount Mortgage Loan and (B) the sum of (x) the sum of the Class A-PO Recoveries for such Distribution Date and prior Distribution Dates and (y) amounts distributed on the Class A-PO Certificates on prior Distribution Dates pursuant to Paragraph fourth of Section 4.01(a). On and after the Subordination Depletion Date, the Class A-PO Deferred Amount will be zero. No interest will accrue on any Class A-PO Deferred Amount.