DCAP Account definition

DCAP Account means the account described in Section 8.5.
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DCAP Account means the account described in Article VII.
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DCAP Account means the account described in Section 7.5. “DCAP Benefits” has the meaning described in Section 7.1.
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Examples of DCAP Account in a sentence

  • For reimbursement of expenses from the DCAP Account after termination of employment, see 'What must I do to be reimbursed for my Dependent Care Expenses?'.

  • In addition, any DCAP Account benefit payments that are unclaimed (e.g., uncashed benefit checks) by the close of the Plan Year following the Period of Coverage in which the Dependent Care Expense was incurred shall be forfeited and applied as described above.

  • If any balance remains in the Participant's DCAP Account for a Period of Coverage after all reimbursements have been made for the Period of Coverage, then such balance shall not be carried over to reimburse the Participant for Dependent Care Expenses incurred during a subsequent Plan Year.

  • Your DCAP Account is merely a recordkeeping account; it is not funded (all reimbursements are paid from the general assets of the Employer), and it does not bear interest.

  • The Plan Administrator will establish and maintain a DCAP Account with respect to each Participant for each Plan Year or other Period of Coverage who has elected to participate in the DCAP Component, but it will not create a separate fund or otherwise segregate assets for this purpose.

  • Reimbursements from the DCAP Account after termination of participation will be made pursuant to Section8.10 for DCAP Benefits.

  • Such maximum reimbursement benefits for the balance of the Period of Coverage shall be calculated by adding (1) the contributions, if any, made by the Participant as of the end of the portion of the Period of Coverage immediately preceding the change in election, to (2) the total contributions scheduled to be made by the Participant during the remainder of such Period of Coverage to the DCAP Account, reduced by (3) reimbursements during the Period of Coverage.

  • The Plan Administrator will establish and maintain a DCAP Account with respect to each Participant who has elected to participate in the DCAP Component, but it will not create a separate fund or otherwise segregate assets for this purpose.

  • Thus, a Participant’s DCAP Account may not have a negative balance during a Period of Coverage.

  • If you pay all of your contributions, then your DCAP Account will be credited with the portion of your gross income that you have elected to give up through salary reduction.


More Definitions of DCAP Account

DCAP Account means the account described in the "DCAP Component" section.
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Related to DCAP Account

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

  • Investment Account As defined in Section 3.12(a).

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.