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 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 end-of-quarter balances of each Current Participant and Authorized Former Participant are identified for each quarter during the Class Period;
2. All end-of-quarter balances identified in step 1 are summed together for each Current Participant and 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);
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 Xxxxx000xXxxxxxxxxx.xxx. There are approximately 65,000 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 are a Current Participant or Authorized Former Participant.
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
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.
YOUR LEGAL RIGHTS AND OPTIONS UNDER THE SETTLEMENT: Our Records Indicate That You Are A Current Participant.
Each Current Participant and each Authorized Former Participant will receive the fraction of the Net Settlement Amount remaining after the deduction of per capita allocations.
If, however, you are a Former Participant who participated in the Plan during the Class Period and did not have a balance greater than $0 as of August 31, 2019 or are the beneficiary, alternate payee, or attorney-in-fact of such a person, then, unlike a Current Participant, you must return a Former Participant Claim Form that is postmarked by to receive a check for your share of the Net Settlement Amount.
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.
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 Net Settlement Amount will be divided into three portions based on the alleged damages: (1) 47% to the Money Market Fund Portion (“MMF Portion”); (2) 47% to the Recordkeeping and Investment Fee Portion (“Fee Portion”); and (3) 6% to the Principal Diversified Real Asset Fund Portion (“Principal Fund Portion”). 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. 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. The Principal Fund Portion will be allocated among Class Members during the Class Period as follows: a percentage of the Principal Fund Portion that is the product of the sum of the participant’s quarter-ending account balances invested in the Principal Fund for each quarter during the Class Period divided by the sum of the quarter- ending net asset value of the Principal Fund for each quarter during the Class Period. No amount shall be distributed to a Class Member 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 [WEBSITE]. There are approximately 50,000 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 are a Curre...
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 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 by the deadline), or (3) a Beneficiary or Alternate Payee of a person identified in (1) or (2). The Net Settlement Amount will be divided pro rata among Class Members based on each eligible Class Member’s Average Account Balance invested in the Plan during the Class Period. For purposes of making this determination, the Average Account Balance shall be calculated based on the quarter-ending account balance for each Authorized Former Participant and Current Participant for each quarter during the Class Period. 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. The Net Settlement Amount will also depend on the amount of any Attorneys’ Fees and Costs, Administrative Expenses, and Class Representatives’ Compensation that are awarded by the Court, as these will be paid out of the Gross Settlement Amount of $10,000,000. Class Counsel will file a motion for an award of Attorneys’ Fees and Costs, Administrative Expenses, and Class Representatives’ Compensation at least 30 days prior to the objection deadline. This motion will be considered at the Fairness Hearing. Class Counsel will limit their application for Attorneys’ Fees to not more than one-third of the Gross Settlement Amount ($3,333,333.33). Class Counsel also will seek to recover all actual and anticipated litigation costs and administrative expenses associated with the Settlement. In addition, Class Counsel will seek compensation for the Class Representatives of no more than $10,000 each. The Court will determine the amount of Attorneys’ Fees and Costs, Administrative Expenses, and Class Representatives’ Compensation that will be awarded, if any. All papers filed in this action, including Class Counsel’s motion for Attorneys’ Fees and Costs, Administrative Expenses, and Class Representatives’ Compensation, will be available for review via the Public Access to Court Electronic Records System (PACER), available online at xxxx://xxx.xxxxx.xxx.
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.