Initial Account Balance definition

Initial Account Balance means the Actuarial Equivalent of a Participant’s Former Accrued Benefit, expressed as a lump sum on July 1, 1997 with respect to employees who were participants in the Qualified Plan on that date or the date on which a Participant’s benefit under any other Prior Plan which is now part of the Qualified Plan was converted to an Actuarial Equivalent Account Balance. A Participant’s Initial Account Balance (determined as if the Plan terminated on July 1, 1997, or on the applicable Prior Plan conversion date) shall be no less than the Actuarial Equivalent of the Participant’s Accrued Benefit under this Plan or a Prior Plan determined as if this Plan or a Prior Plan had terminated on the conversion date.
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Initial Account Balance of a Participant shall mean the amount set forth on the schedule attached hereto.
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Initial Account Balance means, with respect to those Participants who participated in the Predecessor Deferred Income Plan, the amount initially credited as of the effective date of this Plan to a Participant’s Retirement Account and In-Service Account as reasonably determined by the Committee, in its sole discretion. The sum of the amounts credited to a Participant’s Retirement Account and the In-Service Account as the Initial Account Balances shall be equal to the Account Balance as of that same date in the Predecessor Deferred Income Plan. The Initial Account Balances shall be subject to the terms and conditions of this Plan and any Participant with an Initial Account Balance shall have no right to demand distribution of such amounts other than as provided for herein.
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Examples of Initial Account Balance in a sentence

  • The accrued benefit is a participant’s Initial Account Balance increased each month by the benefit escalator.

  • Converting a Traditional Pension to a Cash Balance Plan Setting the Initial Account Balance.

  • The Actuarial Equivalent of the GSX Plan benefit on December 31, 1998 (including any early retirement subsidy for a person eligible for early retirement under the GSX Plan on such date), shall be the Initial Account Balance under this Plan.

  • The Initial Account Balance shall be credited to the Participant’s Account(s) as of January 1, 2006.

  • The Initial Account Balances shall be subject to the terms and conditions of this Plan and any Participant with an Initial Account Balance shall have no right to a distribution of such amounts other than as provided for herein.

  • Unless otherwise provided, a Participant’s Initial Account Balance is 100% vested as of January 1, 2006 and shall become the initial Retirement or In-Service Account Balance under the Plan as determined by the Committee.

  • For purposes of this Section 5, “Applicable Date” shall be the later of (i) the Effective Date and (ii) the date a Conversion Eligible Participant vests in his Initial Account Balance under the MAP.

  • On or prior to the date of this Deposit Trust Agreement, the City shall deposit, or cause to be deposited, the Initial Account Balance into the Operating Fund.

  • The Account of an Employee who is a Participant as of January 1, 2000 (including a Tier 1 and Tier 2 Participant) shall be credited with an Initial Account Balance Credit as described herein.

  • Payment analysis [14] shows that CREPS offers incentives for providing honest recommendations, since (a) the possibility of aquiring honest recommendations is linked with high recommendation reputation, and (b) the access of dishonest reccommenders to the recommendation exchange mechanism is prohibited after a number of recommendation exchanges, depending on the defined threshold values and Initial Account Balance.


More Definitions of Initial Account Balance

Initial Account Balance means the sum of $500,000 that shall be deposited by the City in the Operating Fund on or prior to the Commencement Date.
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Initial Account Balance means the Account balance established for a Participant under Section 4.1.
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Initial Account Balance means the portion of a Participant's Account Balance as determined in Article IV.B.
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Initial Account Balance means the amount of $500,000 deposited by the City from Net Revenues in the Operating Account for Burlington Telecom.
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Initial Account Balance. As of January 1, 1998, the initial Account Balance for each Employee equals zero. (2) "Additional Accruals" - Quarterly, at the end of each calendar quarter, that is on March 31, June 30, September 30, and December 31 of each Plan Year and such other date or dates as designated by the Employer, beginning March 31, 1998, there shall be credited to each Employee's Account Balance an amount equal to two percent (2%) multiplied by such Employee's actual Earnings for such calendar quarter. If an Employee shall have a Termination Date prior to the end of such calendar quarter, then such Employee shall not receive an Additional Accrual for the calendar quarter in which his or her Termination occurs. (3) "Interest Credit" -- Quarterly, at the end of each calendar quarter, that is on March 31, June 30, September 30, and December 31 of each Plan Year and such other date or dates as designated by the Employer, beginning March 31, 1998, there shall be credited to the Account Balance on behalf of each Employee an amount equal to one-fourth (1/4) of the Investment Percentage Rate appropriate for the Plan Year multiplied by the Account Balance determined as of the first day of such calendar quarter. Interest credits will continue to be credited for each calendar quarter up until the first day of the quarter in which payments are first made to the Employee or forfeitures are taken under the Plan. In addition, a final "Interest Credit" will be determined for the calendar quarter in which payments are first made to the Employee. Such Credit shall be an amount equal to one-twelfth (1/12) of the Investment Percentage Rate appropriate for the Plan Year multiplied by the number of completed months (if any) from the first day of such calendar quarter to the date payments are first made to the Employee, multiplied by the Account Balance determined as of the first day of such calendar quarter. Although each Employee shall have an Account Balance, there shall be no "individual accounts" as defined in ERISA section 3(34).
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Related to Initial Account Balance

  • Account Balance means, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Company Contribution Account balance, and (iii) the Company Restoration Matching Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.

  • Initial Account has the meaning specified in the Transfer Agreement.

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 2.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Principal Funding Account Balance means, with respect to any date of determination during the Controlled Accumulation Period, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Specified Spread Account Balance means on the Closing Date, % of the sum of the Pool Balance as of the [Initial] Cutoff Date and on any Payment Date thereafter the lesser of, (a) % of the [sum of (i) the] Pool Balance as of the [Initial] Cutoff Date [plus (ii) the aggregate Contract Value of all Subsequent Receivables sold to the Trust as of their respective Cutoff Dates] and (b) the outstanding principal amount of the Notes. However, if (A) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) will be reduced to % on such Payment Date and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Dates as provided in the following clauses (B), (C) or (D); (B) if the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Date in [Month] 20XX or any Payment Date thereafter and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (C) or (D); (C) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in [Month] 20XX or any Payment Date thereafter or [Month] 20XX or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter unless further reduced on the Payment Date as provided in the following clause (D); and (D) the Specified Spread Account Reduction Trigger is met on the Payment Date in [Month] 20XX or any Payment Date thereafter, the percentage in clause (a) of the preceding sentence will be reduced to % on such Payment Date (regardless of whether the Specified Spread Account Reduction Trigger was met on the Payment Dates in [Month] 20XX or any Payment Date thereafter, [Month] 20XX or any Payment Date thereafter or [Month] 20XX or any Payment Date thereafter) and will remain at such percentage for each Payment Date thereafter. In addition to the ability to amend the “Specified Spread Account Balance” definition pursuant to Section 9.1(a) of the Indenture, the Specified Spread Account Balance may also be reduced or modified without the consent of the Holders of the Notes if the Rating Agency Condition is satisfied with respect to such reduction or modification.

  • Economic Capital Account Balances has the meaning set forth in Section 6.1.E.

  • Economic Capital Account Balance has the meaning provided in Section 5.1(e) hereof.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Class A-PO Deferred Amount For any Distribution Date prior to the Subordination Depletion Date, the difference between (A) the sum of (x) the amount by which the sum of the Class A-PO Optimal Principal Amounts for all prior Distribution Dates exceeded the amounts distributed on the Class A-PO Certificates on such prior Distribution Dates pursuant to Paragraph third clause (2) of Section 4.01(a) and (y) the sum of the product for each Discount Mortgage Loan which became a Liquidated Loan at any time on or prior to the last day of the Applicable Unscheduled Principal Receipt Period for Full Unscheduled Principal Receipts for the current Distribution Date of (a) the PO Fraction for such Discount Mortgage Loan and (b) an amount equal to the principal portion of Realized Losses (other than Bankruptcy Losses due to Debt Service Reductions) incurred with respect to such Discount Mortgage Loan and (B) the sum of (x) the sum of the Class A-PO Recoveries for such Distribution Date and prior Distribution Dates and (y) amounts distributed on the Class A-PO Certificates on prior Distribution Dates pursuant to Paragraph fourth of Section 4.01(a). On and after the Subordination Depletion Date, the Class A-PO Deferred Amount will be zero. No interest will accrue on any Class A-PO Deferred Amount.

  • Class PO Deferred Amount As to any Distribution Date, the aggregate of the applicable PO Percentage of each Realized Loss, other than any Excess Loss, to be allocated to the Class PO Certificates on such Distribution Date on or prior to the Senior Credit Support Depletion Date or previously allocated to the Class PO Certificates and not yet paid to the Holders of the Class PO Certificates.

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

  • Debit Balance means, as of any date, the dollar amount, if any, representing each of: (1) the aggregate Annual Charge, accrued in accordance with Section 3.4(g)(i); and (2) any Leveraged Principal Amount (together with any pro rata Interest Amounts determined in accordance with Section 3.4(g)(ii), if applicable), as reduced by any distributions recorded from ML Ventures Units recorded in a Participant’s Account in accordance with Section 3.4(e).

  • 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.

  • Adjusted Capital Account Balance means, with respect to each Partner, the balance in such Partner’s Capital Account adjusted (i) by taking into account the adjustments, allocations and distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6); and (ii) by adding to such balance such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, determined pursuant to Treasury Regulations Sections 1.704-2(g) and 1.704-2(i)(5), any amounts such Partner is obligated to restore pursuant to any provision of this Agreement or by applicable Law. The foregoing definition of Adjusted Capital Account Balance is intended to comply with the provisions of Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • 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.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Capital Account Distribution Date and "Income Account Distribution Date" shall mean the "Distribution Dates" set forth in the "Essential Information" in the Prospectus.

  • 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.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.

  • 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.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the