Funding Vehicles definition

Funding Vehicles means the Annuity Contracts or Custodial Accounts issued for funding amounts held under the Plan and authorized by Employer for use under the Plan.

Funding Vehicles means the terms of the annuity contract(s) as defined in Code sections 403(b)(1) and 401(g) and custodial account(s) provided by the Funding Agent which are incorporated herein by reference.

Funding Vehicles means the annuity contracts or custodial accounts that satisfy the requirements of Code Section 401(f) issued for funding accrued benefits under this Plan and specifically approved by the Institution for use under this Plan.

Examples of Funding Vehicles in a sentence

• The Compensation Reduction Agreement shall (1) provide that the Employee agrees to be bound by all the terms and conditions of the Plan; (2) include designation of the Funding Vehicles and Accounts therein to which elective deferrals are to be made; and (3) provide for the designation of a Beneficiary.

• The Administrator shall maintain a list of all Fund Sponsors approved to sell Funding Vehicles under the Plan.

• Subject to the provisions of applicable collective bargaining agreements, the Employer reserves the right to change Fund Sponsors and Funding Vehicles at any time and for any reason.

• Plan contributions are invested in one or more of the Funding Vehicles available under the Plan.

• An Employee who complies with the requirements of Section 3.1 and becomes a Participant is entitled to the benefits and is bound by all of the terms, provisions, and conditions of this Plan, including any and all amendments which from time to time may be adopted, and including the terms, provisions and conditions of any Funding Vehicle(s) to which Plan contributions for the Participant have been applied.

More Definitions of Funding Vehicles

Funding Vehicles means tax-deferred annuities, fixed or variable in nature or a combination thereof, mutual fund shares, or other similar investment products approved by the Board, issued for the purpose of funding accrued benefits under this Plan.

Funding Vehicles. The Annuity Contracts or Custodial Accounts issued for funding amounts held under the Plan and specifically approved by Employer for use under the Plan.

Funding Vehicles or “Shares” shall include (i) shares of stock, trust certificates or other evidences of interest (including fractional shares) in any corporation, partnership, trust, or other entity registered under the Investment Company Act of 1940 (ii) all marketable securities traded over the counter or on a recognized securities exchange which are eligible for registration on the book entry system maintained by the Depository Guaranty Trust Company (“DTC”) or its successors; (iii) if permitted by the Custodian, interest bearing accounts of the Custodian, and (iv) such other non-DTC eligible assets (but not including futures contracts) which are permitted to be acquired under a custodial account pursuant to Section 408A of the Code and which are acceptable to the Custodian. Notwithstanding the above, the Custodian reserves the right to refuse to accept and hold any specific asset including tax free investment vehicles. All assets of the Custodial Account shall be registered in the name of the Custodian or its nominee but such assets shall generally be held in an Account for which records are maintained on a proprietary recordkeeping system of the Company.

Funding Vehicles means the Annuity Contracts or Custodial Accounts issued for funding amounts held under the Plan and specifically approved by the University for use under the Plan.

Funding Vehicles shall include (i) all marketable securities traded over the counter or on a recognized securities exchange which are eligible for registration on the book entry system maintained by the Depository Guaranty Trust Company (“DTC”) or its successors; (ii) if permitted by the Custodian, interest bearing accounts of the Custodian, and (iii) such other non-DTC eligible assets (but not including futures contracts) which are permitted to be acquired under a Custodial Account pursuant to Section 408 of the Code and which are acceptable to the Custodian. Notwithstanding the above, the Custodian reserves the right to refuse to accept and hold any specific asset including tax free investment vehicles. All assets of the Custodial Account shall be registered in the name of the Custodian or its nominee but such assets shall generally be held in an Account for which the records are maintained on a proprietary recordkeeping system of the Company.

Funding Vehicles means the financial instruments issued for the purpose of funding benefits under this Plan as specifically approved by the Employer for use under this Plan. Any Annuity Contract utilized in conjunction with this Plan must be nontransferrable. Funding Vehicles shall be limited to Annuity Contracts and Custodial Accounts which comply with the requirements of Code Section 403(b).

Funding Vehicles means the financial instruments issued for the purpose of funding accrued benefits under this Plan and specifically approved by the University for use under this Plan in accordance with SECTION 4.