Member Account Balance definition

Member Account Balance means in relation to a Member the value of the Member's Member Account at any particular time.
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Member Account Balance has the meaning set out in Section 9.4(n);
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Examples of Member Account Balance in a sentence

  • Refunds of Member Account Balance Upon termination, if a member of the Main System is not vested (is not 65 or does not have three years of service), they will receive the accumulated member contributions and vested employer contributions, plus interest, or may elect to receive this amount at a later date.

  • Option 3Whether vested or not, you can leave your Member Account Balance intact with NDPERS and take a refund or rollover at a later date.

  • Option 1You can choose to have your Member Account Balance paid directly to you.

  • If you choose this option, only 80 percent of the taxable amount of your Member Account Balance is payable to you because NDPERS is required to withhold 20 percent of the payment for federal tax purposes.

  • You can choose to have all or a portion of your Member Account Balance directly rolled over into a traditional IRA or an eligible employer plan.

  • The earliest age a member can begin to receive a monthly benefit is age 55 or Rule of 85, whichever happens first.Under the Deferred Vested Benefit Option, monthly benefits should begin no later than age 55 with three (3) years of eligible service or the Rule of 85, whichever happens first.Interest continues to compound on your Member Account Balance until you begin receiving a monthly benefit.

  • If a member is hired on or after January 1, 2016, the earliest age a member can begin to receive a monthly benefit is age 60 or Rule of 90, whichever happens first.Under the Deferred Vested Benefit Option, monthly benefits should begin no later than age 65 or the “Rule”, whichever happens first.Interest continues to compound on your Member Account Balance until you begin receiving a monthly benefit.

  • Option 2Note: Be sure to check to see if the employer plan or IRA will accept a rollover from a 401(a) plan.You can choose to have all or a portion of your Member Account Balance directly rolled over into a traditional IRA or an eligible employer plan.

  • In addition, your PERS Member Account will continue to be eligible for investment earnings and you will be eligible for PERS benefits at retirement.o If you are not vested in PERS and you enroll in the ORP, your Member Account Balance will be rolled over to the ORP and you will forfeit your PERS pension benefits and membership in PERS.o If you are not vested in OPSRP pension and you elect the ORP, you forfeit your OPSRP pension and related benefits.

  • Member Account Balance Options Your member account balance consists of the monthly employee contributions, the vested portion of your employer contributions, and interest.

Related to Member 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.

  • 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.

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

  • 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.

  • 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.

  • 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.

  • 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)(c)(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), and 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.

  • 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.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Debit Balance means, as of any date, the dollar amount, if any, representing the accrued aggregate Annual Charge not deducted from the Liquid Balance.

  • Plan Account means the account established for each Participant pursuant to Section 8(a).

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

  • Retirement fund means the "Washington law enforcement

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.