Leveraged Employer Securities definition

Leveraged Employer Securities means Employer Securities acquired by the Trust with the proceeds of an Exempt Loan and which satisfy the definition of "qualifying employer securities" in Code Section 4975(e)(8).
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Leveraged Employer Securities means Employer Securities acquired by the Trust with the proceeds of an Exempt Loan and which satisfy the definition of "qualifying employer securities" under Code (S)4975(e)(8).
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Leveraged Employer Securities means Employer Securities acquired by the Trust with the proceeds of an Exempt Loan.
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Examples of Leveraged Employer Securities in a sentence

  • Furthermore and except as provided otherwise in Sections 10.01 and 10.03 hereof, Leveraged Employer Securities may not be subject to a put, call, or other option, or buy-sell or similar arrangement while held by or when distributed from the Plan.

  • For purposes of applying this Section 6.01, a Participant's Account shall not include any Leveraged Employer Securities until the close of the Plan Year in which the loan is repaid in full except as permitted under Section 6.03(D) of the Plan.

  • Furthermore, for any Leveraged Employer Securities, distribution under this Section 6.06 shall not be required until such Exempt Loan is repaid in full unless required by the Code.

  • For purposes of applying this Section 6.01, a Participant’s Account shall not include Leveraged Employer Securities until the close of the Plan Year in which the Exempt Loan is repaid in full subject to: (i) the minimum distribution requirements of Code Section 401(a)(9); (ii) the diversification requirements as set forth in Section 8.09; (iii) death; (iv) Disability of a Participant; (v) the Participant’s Retirement; or (vi) as the ESOP Committee otherwise determines.

  • For any Leveraged Employer Securities acquired with the proceeds of an Exempt Loan, distribution under this Section 6.08 shall not be required until such Exempt Loan is repaid in full unless required by the Code.

  • However, there are several states’ and municipal programmes, of small scale and with minor labour market impacts.

  • This provision shall apply regardless of whether a Participant’s Account includes any Leveraged Employer Securities.

  • For purposes of this Section 6.05, the Eligible Portion does not include any Leveraged Employer Securities until the close of the Plan Year in which the borrower repays the Exempt Loan in full.

  • Leveraged Employer Securities means Employer Securities acquired by the Trust with the proceeds of an Exempt Loan (including Employer Securities acquired by the Trust as a dividend with respect to, in exchange for, or with proceeds from the sale of Employer Securities acquired by the Stilwell Financial Inc.


More Definitions of Leveraged Employer Securities

Leveraged Employer Securities means Employer Securities acquired by the Trust with the proceeds of an Exempt Loan and which satisfy the definition of "qualifying employer securities" in Code Section 4975(e)(8) with respect to the Plan to which the Exempt Loan was made.
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Leveraged Employer Securities means Employer Securities acquired by the Trust with the proceeds of an Exempt Loan. Effective January 1, 2020, the Plan shall not hold any Leveraged Employer Securities or engage in any transaction involving the acquisition of Leveraged Employer Securities through use of an Exempt Loan. 3. Section 6.3(d)(1) is amended to read as follows: 1. The Employer Securities Account maintained for each Participant shall be credited with the Participant's allocable share of Employer Securities (including fractional shares) purchased and paid for by the Trust or contributed in kind to the Trust, with any forfeitures of Employer Securities and with any stock dividends on Employer Securities allocated to his Employer Securities Account. Employer Securities acquired with an Exempt Loan under Section 14.3 shall be allocated in accordance with that Section, subject however, to the provisions of this Section 6.3. Effective January 1, 2020, the Plan shall not hold any Employer Securities acquired with an Exempt Loan or engage in any transaction involving the acquisition of Employer Securities through use of an Exempt Loan. 2. The first paragraph of Section 6.3(e) is amended to read as follows:
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Related to Leveraged Employer Securities

  • Employer Securities means common stock, any other type of stock or any marketable obligation (as defined in Section 407(e) of ERISA) issued by the Company or any Affiliate of the Company; provided, however, that if Employer Securities are purchased with borrowed funds, Employer Securities, to the extent required by Section 4975 of the Code, shall only include

  • Employer Stock means any class of common stock of Quest Diagnostics or the preferred stock of Quest Diagnostics that is convertible into common stock.

  • Qualifying Equity Interests means Equity Interests of the Company other than Disqualified Stock.

  • Qualified Nonelective Contribution (QNEC) means the Employer's contributions to the Plan that are made pursuant to Sections 12.1(a)(4), 12.5 and 12.7 or pursuant to any other Plan provision which provides for such contributions.

  • Qualified Nonelective Contributions means contributions of the Plan Sponsor or an Affiliate, other than Matching Contributions or Elective Deferrals, which are nonforfeitable when made, and which would be nonforfeitable regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Code Section 401(k)(2)(B) and the regulations thereunder.

  • Small employer carrier means any carrier that offers health benefit plans covering eligible employees of one or more small employers in this state.

  • Qualified Military Service means any service in the uniformed services (as defined in chapter 43 of title 38, United States Code) by any individual if such individual is entitled to reemployment rights under such chapter with respect to such service.

  • Qualified Non-Elective Contribution means any Employer contributions made pursuant to Section 4.1(c) and Section 4.6(b) and Section 4.8(f). Such contributions shall be considered an Elective Contribution for the purposes of the Plan and may be used to satisfy the "Actual Deferral Percentage" tests or the "Actual Contribution Percentage" tests.

  • Multi-employer Plan means a multi-employer plan, as defined in Section 4001(a)(3) of ERISA to which the Borrower or any Subsidiary of the Borrower or any ERISA Affiliate is making or accruing an obligation to make contributions or has within any of the preceding five plan years made or accrued an obligation to make contributions.

  • Elective Contribution means the Employer's contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess "annual additions" pursuant to Section 4.10(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.6 shall be considered an Elective Contribution for purposes of the Plan. Any such contributions deemed to be Elective Contributions shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the discrimination requirements of Regulation 1.401(k)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • 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.

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.

  • Qualified Benefit Plan has the meaning set forth in Section 3.20(c).

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Single Employer Plan any Plan which is covered by Title IV of ERISA, but which is not a Multiemployer Plan.

  • Qualifying contribution means, with respect to a

  • Elective Contributions are amounts excludible from the Employee's gross income under Code Sections 125, 402(a)(8), 402(h) or 403(b), and contributed by the Employer, at the Employee's election, to a Code Section 401(k) arrangement, a Simplified Employee Pension, cafeteria plan or tax-sheltered annuity. The term "Compensation" does not include:

  • Eligible casual employee means a casual employee employed during a period of at least 12 months, either:

  • Plan Assets means “plan assets” within the meaning of the Plan Asset Regulations.

  • Professional employer services means services provided to a client company pursuant to a written

  • 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.

  • 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.

  • Charitable contribution means any donation or gift of money or any other thing of value.

  • Benefit Plan Investor means an “employee benefit plan” as defined in Section 3(3) of ERISA that is subject to Title I of ERISA, a “plan” as defined in and subject to Section 4975 of the Code or an entity whose underlying assets include plan assets of any of the foregoing.

  • 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.