Discretionary Contributions Account definition

Discretionary Contributions Account means the Subaccount recording Discretionary Contributions made to the Plan on behalf of the Participant pursuant to Section 5.2, as adjusted for allocations of Earnings, distributions and other factors affecting the value of such Subaccount.
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Discretionary Contributions Account of a Participant shall mean his individual account in the Trust Fund established in accordance with Section 5.2(c).
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Discretionary Contributions Account means the Account of a Participant to which are credited any Discretionary Contributions allocated to the Participant in a given Plan Year under Section 3.1(a) of this Plan.
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Examples of Discretionary Contributions Account in a sentence

  • If a contribution is made, you may receive an allocation if:− you are employed on the last day of the Plan Year; and− you completed 1,000 Hours of Service with the Employer during the Plan Year (special rules for counting 1,000 hours apply if you are transferred to a Related Employer during the Plan Year).The Employer Discretionary Contribution, if any, will be made to your Employer Discretionary Contributions Account in the calendar year following the end of the applicable Plan Year.

  • First, the Employer will contribute to your Employer Discretionary Contributions Account amounts it would have contributed to the Employer Discretionary Contributions Account had you been employed by the Employer during your period of your military service.

  • A Participant may not borrow from their Retirement Accumulation Account, Discretionary Contributions Account, Roth Contributions Account or Roth Rollover Account.

  • The Committee shall oversee the annual evaluation of the Board and its committees.

  • In addition, you may also owe a 10% penalty on an early distribution if you are under 59½ when you file your annual income tax return.After age 59½, you may withdraw all or part of your Participant 401(k) Contributions Account and the vested portion ofyour Employer Discretionary Contributions Account and Employer Discretionary Matching Contributions Account, regardless of your employment status.If you would like to make a withdrawal, please contact the Record Keeper for more information.

  • Except as provided in subsection (c), any reference to Account in this Article 7 does not include the Retirement Accumulation Account, Discretionary Contributions Account, Roth Contributions Account, Roth Rollover Account or In-Plan Roth Conversion Account, which are otherwise disregarded for all purposes of this Article 7.

  • A Participant’s Discretionary Contributions shall be credited to the Discretionary Contributions Account as of the time selected by the Committee.

  • A Discretionary Contributions Account will be maintained on behalf of each Accountholder who is allocated any Discretionary Contributions under the Plan or who succeeds to any such amounts.

  • Each Participant shall have a fully vested and nonforfeitable interest in his or her Elective Contributions Account, Matching Contributions Account and Discretionary Contributions Account at all times.

  • It is suggested that those adopting the country program approach take time to clearly align their individual project activities into the overall results framework.


More Definitions of Discretionary Contributions Account

Discretionary Contributions Account means the account maintained on behalf of each Participant which will represent the amount of the Deferral Contributions made on behalf of such Participant pursuant to Section 4.3 of the Plan.
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Discretionary Contributions Account which shall reflect a Participant's interest in contributions made by a Plan Sponsor under Plan Section 3.4; a Participant's interest, if any, in his Company Account under the Marcliff Savings Plan; and a Participant's interest, if any, in his Company Discretionary Contributions Account under the Banner Plan.
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Discretionary Contributions Account means an account established pursuant to section 6.2 with respect to Discretionary Contributions.
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Related to Discretionary Contributions Account

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Matching Contributions means local cash and/or in-kind contributions made by the Subrecipient, subcontractor, or other local resources that qualify as match for the Contract funding.