Current Participant definition
Current Participant means a person who participated in the Plans during the Class Period and had an Active Account.
Current Participant as defined on page 1 or (2) an “Authorized Former Participant” (a “Former Participant” as defined on page 1 who submitted a completed, satisfactory Former Participant Claim Form that is postmarked or submitted electronically by the deadline), or (3) a beneficiary, alternate payee, or attorney-in-fact of persons identified in (1) or (2). Payments to Authorized Former Participants and Current Participants shall be calculated by the Settlement Administrator as follows:
1. The end-of-quarter balances for the Class Period of each Current Participant and each Authorized Former Participant are identified for each quarter;
2. All end-of-quarter balances identified in step 1 are summed together for each Current Participant and each Authorized Former Participant;
3. An average end-of-quarter balance for each Current Participant and each Authorized Former Participant is calculated for the Class Period (with a zero included as the balance for any quarter during which the individual did not participate in the Plan or took a full distribution during the quarter);
4. For each Current Participant and each Authorized Former Participant, the average end-of- quarter balance of step 3 is divided by the average end-of-quarter balance for the Class Period of all Current and Authorized Former Participants;
5. Each Current Participant and each Authorized Former Participant will receive the fraction of the total Net Settlement Amount which is calculated in step 4. No amount shall be distributed to a Class Member that is ten dollars ($10.00) or less, because such an amount is de minimis and would cost more in processing than its value. The method of making these calculations is described in the Plan of Allocation, found in Article 6 of the Settlement Agreement and available at ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. There are over 30,000 Class Members. Note that if you are an alternate payee pursuant to a Qualified Domestic Relations Order, your portion of the Settlement will be distributed pursuant to the terms of that order.
Current Participant means a member of the Settlement Class who had an Active Account as of the date the Preliminary Approval Order is entered by the Court.
Examples of Current Participant in a sentence
We have not included a claim form in your notice because Current Participants do not need to submit a claim form, and our records indicate that you are a Current Participant.
A Current Participant who has an account balance of zero as of the date the settlement payments are made need not complete a Former Participant Claim Form.
For each Current Participant who has an account balance of zero as of the date the settlement payments are made, the Settlement Administrator shall issue a check from the Qualified Settlement Fund and mail the check to the address of the Current Participant then on file.
Each Current Participant and each Authorized Former Participant will receive the fraction of the total Net Settlement Amount which is calculated in step 4.
For each Zero Account Balance Current Participant, the Settlement Administrator shall issue a check from the Qualified Settlement Fund and mail the check to the address of the Zero Account Balance Current Participant then on file.
More Definitions of Current Participant
Current Participant means a member of the Settlement Class who has an Active Account, as defined above.
Current Participant means any ICSD employee represented by ITA who, on or before June 30, 2019: (a) is unmarried; (b) is a participant in the ICSD’s dental and/or vision plan(s); (c) has a same-sex, domestic partner who is also covered by said dental and/or vision plan(s) subject to the terms and conditions required for such coverage. In the future, if such same-sex domestic partnership ends with that individual, then the employee would be subject to the terms and conditions then in effect for “family” coverage.
Current Participant as defined on page 1 or (2) an “Authorized Former Participant” (a “Former Participant” as defined on page 1 who submitted a completed, satisfactory Former Participant Claim Form that is postmarked by the deadline), or (3) a beneficiary, alternate payee, or attorney-in-fact of persons identified in (1) or (2). The Plan of Allocation will allocate the Net Settlement Fund among Current and Authorized Former Participants as follows:
1. The Settlement Administrator shall obtain from the Plan’s recordkeeper the quarter-ending account balances and the quarter-ending balances invested in the Vanguard Prime Money Market Fund (“MMF”) for each Class Member during the Class Period.
2. The Net Settlement Amount shall be divided into two portions based on the alleged damages: (1) 50% to the Money Market Fund Portion (“MMF Portion”); and, (2) 50% to the Recordkeeping Portion (“Fee Portion”).
3. The MMF Portion will be allocated among Class Members during the Class Period as follows: a percentage of the MMF Portion that is the product of the sum of the participant’s quarter-ending account balances invested in the MMF for each quarter during the Class Period divided by the sum of quarter-ending net asset value of the MMF for each quarter during the Class Period.
4. The Fee Allocation will be allocated among Class Members during the Class Period as follows: a percentage of Fee Portion that is the product of the sum of the participant’s quarter-ending total account balances for each quarter during the Class Period divided by the sum of the quarter-ending net asset value of the Plan for each quarter during the Class Period.
5. Notwithstanding the Plan of Allocation, no amount shall be distributed to that is five dollars ($5.00) or less, because such an amount is de minimis and would cost more in processing than its value. The method of making these calculations is described in the Plan of Allocation, found in Article 6 of the Settlement Agreement and available at www. ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. There are approximately ******* Class Members. Note that if you are an alternate payee pursuant to a Qualified Domestic Relations Order, you will receive a check if and to the extent you are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under the Settlement Agreement in accordance with the plan of allocation as if you were a Current Participant or Authorized Former Participant.
Current Participant means a person who participated in the Plan during the Class Period and on September 30, 2020 had an Active Account balance.
Current Participant means a Participant who, for the calendar year, has elected, in accordance with Section 5 below, to participate in the Program and is, therefore, subject to mandatory payment of a portion of his or her compensation for the calendar year by grant of Stock Units under the Program.
Current Participant in the Plans as of August 5, 2020 or (2) an “Authorized Former Participant” who timely completes and returns a Claim Form, or (3) a Beneficiary or Alternate Payee of a Current Participant or an Authorized Former Participant. The Net Settlement Amount will be divided pro rata among eligible Class Members based, in part, on each eligible Class Member’s weighted account balance invested in MIO Funds during the Class Period. These funds include the following: Special Situations, Special Situations – EL, Special Situations – EL, MC, and Active Global Equities.
Current Participant as defined on page 1 or (2) an “Authorized Former Participant” (a “Former Participant” as defined on page 1 who submitted a completed, satisfactory Former Participant Claim Form that is postmarked by the deadline), or (3) a beneficiary, alternate payee, or attorney-in-fact of persons identified in (1) or (2). The Plan of Allocation will allocate the Net Settlement Fund among Current and Authorized Former Participants as follows:
1. The Settlement Administrator shall obtain from the Plan’s recordkeeper the quarter-ending account balances and the quarter-ending balances invested in the Vanguard Prime Money Market Fund (“MMF”) for each Class Member during the Class Period. Case 1:15-cv-02062-TWP-MPB Document 367-1 Filed 04/05/19 Page 64 of 72 PageID #: 21402
2. The Net Settlement Amount shall be divided into two portions based on the alleged damages: (1) 50% to the Money Market Fund Portion (“MMF Portion”); and, (2) 50% to the Recordkeeping Fee Portion (“Fee Portion”).
3. The MMF Portion will be allocated among Class Members during the Class Period as follows: a percentage of the MMF Portion that is the product of the sum of the participant’s quarter-ending account balances invested in the MMF for each quarter during the Class Period divided by the sum of quarter-ending net asset value of the MMF for each quarter during the Class Period.
4. The Fee Allocation will be allocated among Class Members during the Class Period as follows: a percentage of Fee Portion that is the product of the sum of the participant’s quarter-ending total account balances for each quarter during the Class Period divided by the sum of the quarter-ending net asset value of the Plan for each quarter during the Class Period.
5. Notwithstanding the Plan of Allocation, no amount shall be distributed to that is five dollars ($5.00) or less, because such an amount is de minimis and would cost more in processing than its value. The method of making these calculations is described in the Plan of Allocation, found in Article 6 of the Settlement Agreement and available at www. ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. There are approximately ******* Class Members. Note that if you are an alternate payee pursuant to a Qualified Domestic Relations Order, you will receive a check if and to the extent you are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under the Settlement Agreement in accordance with the plan of allocation as if you were a Current Particip...