Merged Plan definition
Examples of Merged Plan in a sentence
Allocations of Employer contributions shall be made without regard to the Merged Plan Accounts.
Effective January 1, 1997, each Eligible Employee who is a Participant on January 1, 1997, will have recognized as Vesting Service by this Plan the greater of (1) all service recognized by the Merged Plan as of January 1, 1997, or (2) the Vesting Service otherwise recognized by this Plan without this provision.
The realized and unrealized gains or losses of the Merged Plan Accounts shall be allocated among the Participants who have Merged Plan Accounts in the same manner as Employer and Employee contributions, as provided in Articles IV and V of the Plan.
In connection with the merger of the Security Capital Bancorp Employees' Incentive Profit Sharing and Savings Plan into this Plan on or about July 1, 1995, the Committee shall establish and maintain a separate account (which shall be called a "Merged Plan Account") in the name of each Participant whose Employer Matching Account and/or Employer Incentive Profit Sharing Account from the Security Capital Bancorp Employees' Incentive Profit Sharing and Savings Plan was transferred to the Plan.
However, for investment purposes, Merged Plan Accounts shall not be segregated and held and invested separately but rather shall be held by the Trustee and commingled with the other funds of the Plan.