Combined Account definition
Examples of Combined Account in a sentence
Average Clearance Funding Technique for the Medicaid/CHIP Combined Account (DMAS 93.767, 93.778) The Medicaid/ Children's Health Insurance Program (CHIP) programs use a combined bank account for weekly remittance checks issued on a fixed weekly schedule by the Department of Medical Assistance Services (DMAS) Fiscal Agent.
In the event of a Participant's Total and Permanent Disability prior to his Retirement Date or other termination of his employment, all amounts credited to such Participant's Combined Account shall become fully Vested.
Account Fee Structure Per Annum: Combined Account Structure $30,000 Fund of Funds Structure - Equity Component and First Three Fixed Income Components $30,000 - Fixed Income Component (after first three funds) $2,000 Other: Fees will be computed, billed and payable on a monthly basis in advance.
However, at the election of the Participant, the Administrator shall direct that the entire Vested portion of the Terminated Participant's Combined Account be payable to such Terminated Participant provided the conditions, if any, set forth in the Adoption Agreement have been satisfied.
In the event of a Participant's Total and Permanent Disability prior to the Participant's Retirement Date or other termination of employment, all amounts credited to such Participant's Combined Account shall, if elected in the Adoption Agreement, become fully Vested.
In the event the Vested portion of a Participant's Combined Account is not segregated, the amount shall remain in a separate account for the Terminated Participant and share in allocations pursuant to Section 4.4 until such time as a distribution is made to the Terminated Participant.
Prior to making a payment, however, the Participant or Beneficiary must be given written notice by the Administrator that such loan indebtedness is to be so paid in whole or part from his Participant's Combined Account.
Notwithstanding the foregoing, for any Top Heavy Plan Year, the sum of the Employer's contributions and Forfeitures allocated to the Participant's Combined Account of each Non-Key Employee shall be equal to at least three percent (3%) of such Non-Key Employee's 415 Compensation (reduced by contributions and forfeitures, if any, allocated to each Non-Key Employee in any defined contribution plan included with this Plan in a "required aggregation group" (as defined in Section 9.2(f)).
In the event of a Participant's Total and Permanent Disability, the Trustee, in accordance with the provisions of Sections 6.5 and 6.7, shall distribute to such Participant all amounts credited to such Participant's Combined Account as though he had retired.
Subject to clause 4.3, after receipt of a Drawdown Notice the amount of the Advance requested in a Drawdown Notice must, unless otherwise directed by the Manager, be deposited by the Redraw Facility Provider in an Account or a Combined Account in immediately available funds no later than 11.00 am on the Drawdown Date.