Health Benefits Account definition

Health Benefits Account means an account established and maintained under Code Section 401(h).
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Health Benefits Account means the separate account established and maintained under this Article VIII in accordance with the requirements of Section 401(h) of the Internal Revenue Code but subject to the provisions of Section 420 of the Internal Revenue Code.
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Examples of Health Benefits Account in a sentence

  • Any assets transferred to a Health Benefits Account in a Qualified Transfer (and any income allocated thereto) shall only be used to pay Qualified Current Retiree Health Liabilities (whether directly or through reimbursement).

  • A Health Benefits Account shall be established for the purpose of effecting asset transfers and distributions pursuant to this Article VIII.

  • An employee shall not be required to use his accumulated vacation before requesting a leave of absence for non- vacation purposes.

  • In addition, there are five Capital Project accounts, one Debt Service Account, one Health Benefits Account, one Employee Escrow Account, and one Worker's Compensation Account (three additional Controlled Disbursement accounts manage general and payroll disbursements).

  • Any such distribution shall be paid only to the extent of the balance in the Health Benefits Account.

  • Distributions from the Health Benefits Account shall be made only for the reimbursement of the Employer for Qualified Current Retiree Health Liabilities to the extent provided for under Section 8.4. The Company may cause such distributions to be made to it or any other Employer.

  • No amounts allocated to the Health Benefits Account (including net earnings, if any) for payment of Qualified Current Retiree Health Liabilities may be used for, or diverted to, any other purpose (including the payment of any other benefits under the Plan) prior to the satisfaction of all Qualified Current Retiree Health Liabilities.

  • Only one transfer of Excess Pension Assets may be made in any taxable year, and the amount of any such transfer of Excess Pension Assets to the Health Benefits Account shall not exceed the amount reasonably estimated to be paid by the Employer during the taxable year of the transfer for Qualified Current Retiree Health Liabilities.

  • To the extent any portion of the Excess Pension Assets transferred to the Health Benefits Account (including any net earnings allocable thereto) is not used as described in the immediately preceding sentence, such amount shall be transferred out of the Health Benefits Account and returned to the general assets of the Plan.

  • Any transfers made to the Health Benefits Account shall (except to the extent provided in Section 420 of the Internal Revenue Code) comply with the requirements of Section 401(h) of the Internal Revenue Code such that Qualified Current Retiree Health Liabilities paid pursuant to this Article VIII are, to the extent required, subordinate to retirement benefits provided under the Plan.

Related to Health Benefits Account

  • Health benefits plan means a benefits plan which pays or

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Health Savings Account means an account as permitted under section 223 of the internal revenue code of 1986, 26 USC 223.

  • Employee Account means any brokerage account or unit investment trust account in which the Van Kampen Employee has any direct or indirect beneficial ownership.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Medical savings account means an account exempt from federal income taxation pursuant to Section 220 of the United States Internal Revenue Code (26 U.S.C. § 220).

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Societal benefits charge means a charge imposed by an electric

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).

  • Pharmacy benefits management means the administration or management of prescription drug

  • Retirement fund means the "Washington law enforcement