Prior Employer Account definition

Prior Employer Account means the account established and maintained for each affected Participant under Article VII for purposes of holding and accounting for any amounts held in the Trust Fund which is attributable to matching and/or profit sharing contributions to the plan of an acquired company that are merged into or otherwise transferred to this Plan.
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Prior Employer Account means the separate account that represents the value of a Participant’s benefit transferred to the Plan from another plan, as adjusted for gains and losses in the Trust Fund in accordance with the provisions of the Plan, less any prior withdrawals and distributions.
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Prior Employer Account means an Account (as described under Section 4.1(g)) in which assets are transferred directly from the trustee of another qualified retirement plan (under Code Section 401(a)) to the Trustee of this Plan and which are not separately allocated to an existing Account under this Plan and where Adjustments thereon are recorded. See Section 3.7(b).
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Examples of Prior Employer Account in a sentence

  • A Participant’s Prior Employer Account shall be distributed in the form of a single lump sum payment of the Participant’s entire vested Prior Employer Account.

  • ASEAN, established with five countries in 1967 and now numbering 10 in its membership, adopted mutual respect of sovereignty and non-intervention in internal affairs as its guiding prinicples—the so-called “ASEAN way”.

  • With this mini console it will be possible to universally configure all front-ends from the client.Method for setting an operational screen area for the front-end is legitimate for all front-ends, not even for those using the screen recognition.

  • See Schedule C for the vesting provisions applicable to a Participant's Prior Employer Account.

  • Unless the Committee determines that a different order is appropriate, the Trustee acquires the cash proceeds to make each loan by liquidating the Participant's Accounts in the following order, to the extent applicable for him: (1) Rollover Account; (2) Matching Account; (3) Non-Matching Account; (4) Merged (Prior Employer) Account; (5) Before-Tax Account; (6) After-Tax Account; (7) Roth Account; and (8) Discretionary Contribution Account.

  • The remaining withdrawal amount shall come from the following of the Participant's fully vested Accounts, in the priority order as follows: Rollover Account Company Match Cash Account Company Match Stock Account Prior Employer Account Pre-Tax Account The amount that may be withdrawn from a Participant's Pre-Tax Account shall not include any earnings credited to his or her Pre-Tax Account.

  • The sum of the vested balance of a Participant's Pre-Tax (Prior Employer) Account and the portion of his or her Rollover Account representing amounts transferred from the PCs Compleat Plan.

  • On or before December 31, 2001, an EIS Participant may direct to have the Company Stock held in his Prior Employer Account liquidated, the proceeds of which shall be invested in accordance with the Participant's investment elections made pursuant to Section 6.06 of the Plan.

  • The withdrawal shall come from the following of the Participant's fully vested Accounts, in the priority order as follows: Rollover Account Pre-Tax (Prior Employer) Account Pre-Tax Account The amount that may be withdrawn from a Participant's Pre-Tax and Pre-Tax (Prior Employer) Accounts shall not include any amounts attributable to earnings.

  • However, see Schedule C for other optional distribution forms that may be applicable to the Participant's Prior Employer Account.

Related to Prior Employer Account

  • 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.

  • 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.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • 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.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • 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

  • Employer Contributions means the amount transferred by an employer to a funding account or a health reimbursement account.

  • 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.

  • 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.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Matching Contributions means local cash and/or in-kind contributions made by the Subrecipient, subcontractor, or other local resources that qualify as match for the Contract funding.

  • Matching Contribution means an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of a Participant's Deferral Contribution.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • 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.

  • 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.

  • 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.

  • Retirement fund means the "Washington law enforcement

  • Employee Account means any brokerage account or unit investment trust account in which the Van Kampen Employee has any direct or indirect beneficial ownership.

  • 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.

  • Elective Deferrals mean Compensation and Elective Deferrals for: . [Note: The Employer must complete the blank line with the applicable time period for computing the Basic Match, such as "each payroll period," "each calendar month," "each Plan Year quarter" or "the Plan Year."]

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;