DROP account means the notional account to which is credited the monthly DROP accrual;

DROP account means the notional account established to reflect the credits, contributions, and earnings of a member who has made a DROP election in accordance with Section 5 of this article.

DROP account means the participant's individual deferred retirement option plan account designed under this division and administered by the plan.

Examples of DROP account in a sentence

Should that plan be modified to include a defined contribution plan, this DROP account established is only part of a defined benefit plan.
Planned Developments shall be permitted with the approval of a Planned Development Zoning District, specific to the approved Planned Development, within any one or more Standard Zoning Districts identified in Section 98-102.
Upon termination of employment, the retiree shall begin to receive payments from his/her individual DROP account as described hereinafter.
For each employee participating in the DROP, an individual DROP account will be created in which shall be accumulated the DROP benefits, as well as interest on said DROP benefits.
Upon termination of employment, the retiree shall receive the monthly retirement benefit previously credited to his/her DROP account.

More Definitions of DROP account

DROP account means the dollars allocated to a DROP Participant pursuant to this Article. Such accounts will be maintained by the Trustee as entries on its books. The Trustee is not required to set up individual accounts for each DROP Participant.

DROP account means the notional account to which is credited

DROP account means the account established by the Board for a Member who is eligible for and who elects to participate in the DROP Program.

DROP account means the separate financial account established into which the participant’s retirement benefits are paid while the participant continues to be employed by the Sheriff’s Office of the County as a covered individual under the Plan.

DROP account means the separate financial account established under this policy from which a participant is paid a lump sum distribution at retirement.

DROP account means the member's accumulated monthly DROP accruals, plus interest.

DROP account means the account established for each DROP participant under subsection 3.