Defined contribution account definition

Defined contribution account means the account consisting of the member's contributions whether paid by the member or picked up by the employer, additional voluntary contributions, and earnings, minus fees.
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Defined contribution account means the account maintained on the books of account of the Employer for each Participant pursuant to Section 5.1. Separate Defined Contribution Accounts shall be maintained for each Participant. The Defined Contribution Account shall be utilized solely as a device for measurement and determination of the amount to be paid to the Participant pursuant to this Plan. A Participant's Defined Contribution Account shall not constitute or be treated as a trust fund of any kind.
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Defined contribution account means those assets in the Fund held in respect of the aggregate of the Individual Accounts of all the DC Members.
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Examples of Defined contribution account in a sentence

  • If the null space only contains the zero vector, then there are no free variables when we solve Ux = 0 which implies that the diagonal elements of U are all non-zero, so U is invertible.

  • Defined contribution account balances are from pensions from current job only.


More Definitions of Defined contribution account

Defined contribution account of a member or former member means the portion of the member's or former member’s pension benefit under a pension plan that is attributable to the plan's defined contribution provision and has not been transferred or credited to the member's or former member’s variable benefits account;
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Defined contribution account means an account of a member or former member under a defined contribution plan or provision;
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Defined contribution account means the bookkeeping account established by the Company to which are credited Transitional Defined Contributions and Non-Transitional Defined Contributions, and notational earnings and losses thereon.
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Defined contribution account means the account referred to in paragraph (a) of the definition of "defined contribution provision";
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Defined contribution account means the account maintained under IC 5-10.2-2-2(a)(1), as described in IC 5-10.4-8- 2(2), and is also referred to as an "annuity savings account".
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Related to Defined contribution account

  • Defined Contribution Plan A retirement plan which provides for an individual account for each participant and for benefits based solely on the amount contributed to the participant's account, and any income, expenses, gains and losses, and any forfeitures of accounts of other participants which the plan may allocate to such participant's account. The Advisory Committee must treat all defined contribution plans (whether or not terminated) maintained by the Employer as a single plan. Solely for purposes of the limitations of Part 2 of this Article III, the Advisory Committee will treat employee contributions made to a defined benefit plan maintained by the Employer as a separate defined contribution plan. The Advisory Committee also will treat as a defined contribution plan an individual medical account (as defined in Code Section 415(l)(2)) included as part of a defined benefit plan maintained by the Employer and, for taxable years ending after December 31, 1985, a welfare benefit fund under Code Section 419(e) maintained by the Employer to the extent there are post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code Section 419A(d)(3)).

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • 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.