Predecessor Plan Account definition

Predecessor Plan Account means a hypothetical or bookkeeping account reflecting a grandfathered benefit under a Predecessor Plan, the amount of which was transferred to the Plan on December 31, 2005. Such account is credited with additional earnings pursuant to Article VI.

Predecessor Plan Account means the aggregate value of a Predecessor Plan Participant’s interest in his or her account or accounts under a Predecessor Plan, determined as of the Plan Affiliation Date.

Predecessor Plan Account means the sub-account that is attributable to assets transferred from a Predecessor Plan (“Transferred Benefits”).

Examples of Predecessor Plan Account in a sentence

• To the extent the Committee has not received investment direction from a Participant before December 15, 2005 with respect to his or her Predecessor Plan Account or Merged Plan account, such Predecessor Plan Account or Merged Plan account shall be credited with earnings based upon a default investment option under the Savings Plan designated as such by the Committee or in accordance with such other rules as may be adopted by the Committee and applied on a consistent, uniform basis.

• Before January 1, 2006, amounts representing Predecessor Plan Account balances and account balances from Merged Plans were credited with earnings based on investment options available under the Predecessor Plan or Merged Plan to which they related.

• Before January 1, 2006, the Committee shall prescribe rules (that may vary among classes of Participants) that provide each Predecessor Plan Participant (and Participant with a Merged Plan account balance) an opportunity to select the investment fund or funds or index or indices to be used as the basis for crediting his or her Predecessor Plan Account (or Merged Plan account) with earnings as of January 1, 2006.

• Solely for administrative purposes, Predecessor Plan Account balances, determined as of December 31, 2005, became accounted for under the 2005 WellPoint Plan effective as of January 1, 2006.

• In all other respects, each Predecessor Plan Account shall remain subject exclusively to the terms of the Predecessor Plan to which it relates, including without limitation the existing distribution election (commencement date and form of distribution) applicable to the Predecessor Participant’s Predecessor Plan Account.

More Definitions of Predecessor Plan Account

Predecessor Plan Account means a hypothetical or bookkeeping account reflecting an accrued benefit under a Predecessor Plan as of December 31, 2005.

Predecessor Plan Account means an account established by the Company as a book reserve to reflect amounts credited hereunder with respect to a Predecessor Plan, as adjusted by earnings (and losses) under Article VI and as reduced by distributions under Article VII and Article VIII.

Predecessor Plan Account means the Account which is attributable to assets transferred from a Predecessor Plan (“Transferred Benefits”). Certain sub-Accounts may include or incorporate assets from other sub-Accounts. The maintenance of separate sub-Accounts is for Plan accounting purposes only and segregation of the assets of the Plan shall not be required.

Predecessor Plan Account means a book-entry account in the name of a Participant maintained in the Company's records with entries denominated in dollars representing deferrals and accrued interest under a Predecessor Plan.

Predecessor Plan Account means the Account which is attributable to assets transferred from a Predecessor Plan (“Transferred Benefits”). Certain sub-Accounts may include or incorporate assets from other sub-Accounts. The maintenance of separate sub-Accounts is for Plan accounting purposes only and segregation of the assets of the Plan shall not be required. 2.02 “Accrued Benefit” shall mean, as of any date, the sum of the values in a Participant’s Account as of the most recent preceding Valuation Date, plus any contributions to and minus any distributions from the Account since the Valuation Date. 2.03 “Administrator” or “Plan Administrator” shall mean the person, persons, or corporation administering this Plan, as provided in Article XIII hereof, and any successor or successors thereto. 2.04 “Affiliated Group” shall mean a group of corporations, trades or businesses which constitutes a controlled group of corporations, trades or businesses as defined in Code §§414(b) and (c) and shall also include a group of corporations, partnerships or other organizations which constitutes an affiliated service group as defined in Code §414(m) or is treated as a single employer under Code §414(o) and the regulations thereunder. 2.05 “Age” shall mean a person’s attained age in completed years and months as of the date determined. 2.06 “Anniversary Date” shall be the first day of each Plan Year. 2.07 “Beneficiary” shall mean any person, persons, or trust designated by a Participant on a form as the Plan Administrator may prescribe to receive any death benefit that may be payable hereunder if such person or persons survive the Participant. This designation may be revoked at any time in similar manner and form. In the event of the death of the designated Beneficiary prior to the death of the Participant, the Contingent Beneficiary shall be entitled to receive any death benefit. 2.08 “Board of Directors” shall mean: (a) In the case of a corporation, its Board of Directors; or (b) In the case of a partnership or joint venture, its controlling partners. 2.09 “Code” shall mean the Internal Revenue Code of 1986, as amended. 2.10 “Compensation” or “Annual Compensation” shall mean the Participant’s wages, salaries, fees for professional service and other amounts received (without regard to whether or not an amount is paid in cash) for personal services actually rendered in the course of employment with the Company to the extent that the amounts are includable in gross income (including, but not limited to...

Predecessor Plan Account means an account established by the Employer as a book reserve to reflect amounts credited hereunder with respect to a Predecessor Plan, as adjusted by earnings (and losses) under Article VIII and as reduced by distributions under Article X and Article XI. Previously, the Plan maintained a Predecessor Plan Diversified Account separate from a Predecessor Plan Stock Account to reflect differing investment rights. The Predecessor Plan Account is the successor to each of these prior subaccounts now that the investment rights no longer differ.

Predecessor Plan Account means the aggregate value of a Predecessor Plan Participant’s interest in his or her account or accounts under a Predecessor Plan, determined as of the Plan Affiliation Date; provided the Plan Administrator shall, on a uniform basis, either (i) maintain sub-account(s) under such Account for the portion of such Account, if any, that is attributable to designated Roth salary deferrals and for the portion of such Account, if any, that is attributable to designated Roth direct rollovers, or (ii) maintain the portion of a Predecessor Plan Account, if any, that is attributable to designated Roth salary deferrals in a Designated Roth Salary Deferral Contribution Account and maintain the portion of an Predecessor Plan Account, if any, that is attributable to designated Roth direct rollovers in a Designated Roth Direct Rollover Account.