Forfeiture Account means an account holding amounts forfeited by Participants.

Forfeiture Account means the account established pursuant to the provisions of Section 6.4.

Forfeiture Account. An account holding amounts forfeited by Participants who have terminated employment with all Related Companies, invested in interest bearing deposits of the Trustee, pending disposition as provided in this Plan and Trust and as directed by the Administrator.

Examples of Forfeiture Account in a sentence

If the Participant subsequently files a claim, the amount forfeited (unadjusted for gains and losses) shall be reinstated to his or her Accounts and distributed as soon as administratively feasible, and such payment shall be accounted for by charging it against the Forfeiture Account or by a contribution from the Employer of the affected Participant.
The Administrator, on a case by case basis, may elect to restore the benefit by the use of earnings from non-segregated assets of the Fund, by Employer contributions, by available Forfeitures of the Forfeiture Account, or by any combination thereof.
On each annual Valuation Date, the Administrator may elect to use all or any portion of the Forfeiture Account to pay administrative expenses incurred by the Plan.
Class R 387.63 6.11% Forfeiture Account 3209 Vestal Pkwy E Vestal, NY 13850-2154 A G Edwards & Sons Inc.
Funds necessary for any such restoration shall be provided through payment made by the Employer, or by the Trustee to the extent the error or omission is attributable to actions or inactions of the Trustee, or if the restoration involves an Account holding amounts contributed by an Employer, the Administrator may direct the Trustee to use amounts from the Forfeiture Account.

More Definitions of Forfeiture Account

Forfeiture Account means the ORP Forfeiture Account held in trust by the Plan Trustees, including account balances returned to the Plan through “Deemed Cash-Out” or other forfeiture events.

Forfeiture Account means the account maintained by the Administrator to which forfeited amounts under the Plan shall be credited.

Forfeiture Account. An account holding amounts forfeited by Terminated Participants, invested in interest bearing deposits (which may include interest bearing deposits of the Trustee) and/or money market type assets or funds, pending disposition as provided in the Plan and Trust and as directed by the Administrator.

Forfeiture Account means an unallocated account maintained by Equitable under this Contract in the Guaranteed Interest Division and in conjunction with the operation of Section 2.12. Amounts arising from reductions in Retirement Account Value pursuant to Section 2.12 will be allocated to the Forfeiture Account, pending disposition of such amounts (and interest thereon) as determined by the Employer or the Employer Plan Trustee.

Forfeiture Account means a special Plan account maintained by the Plan Sponsor for the purposes of holding Forfeiture amounts until reallocated as specified in the Adoption Agreement.

Forfeiture Account means the separate Account maintained on behalf of the Company in accordance with Section 3.4.3.

Forfeiture Account means the notional account established pursuant to Section 7.03 herein.