Prior Plan Year definition

Prior Plan Year means the Plan Year immediately preceding the Current Plan Year.
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Prior Plan Year a plan year or fiscal year or portion thereof, to the extent applicable with respect to any Plan, ending on or prior to the Cut-off Date.
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Prior Plan Year to the extent applicable with respect to any Plan, any plan year that ended on or prior to the Distribution Date.
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Examples of Prior Plan Year in a sentence

  • This election can only be changed if the Plan meets the requirements for changing to Prior Plan Year testing set forth in IRS Notice 98-1 (or superseding guidance).

  • An individual may be reimbursed for Medical Care Expenses incurred during a Grace Period from amounts remaining in his or her HRE Account, LSFSA Account or LFSA Account at the end of the Plan Year to which that Grace Period relates (Prior Plan Year Amounts) if he or she Is a Participant in the Plan with Health FSA Component that is in effect on the last day of that Plan Year.

  • An individual may be reimbursed for Dependent Care Expenses incurred during a Grace Period from amounts remaining in his or her DCE Account at the end of the Plan Year to which that Grace Period relates (Prior Plan Year Amounts) if he or she Is a Participant in the Plan with DCAP Component coverage that is in effect on the last day of that Plan Year.

  • An individual may be reimbursed for Supplemental Premium Expenses incurred during a Grace Period from amounts remaining in his or her SPA Account at the end of the Plan Year to which that Grace Period relates (Prior Plan Year Amounts) if he or she Is a Participant in the Plan with SPA Component coverage that is in effect on the last day of that Plan Year.

  • If more than 10% of the Employer’s Non-Highly Compensated Employees are involved in a Plan coverage change as defined in Regulations Section 1.401(k)-2(c)(4), then any adjustments to the Non-Highly Compensated Employee ADP for the Prior Plan Year will be made in accordance with such Regulations, unless the Employer has elected in the Adoption Agreement to use the Current Year Testing method.

  • If more than 10% of the Employer’s Non-Highly Compensated Employees are involved in a Plan coverage change as defined in Regulations Section 1.401(m)-2(c)(4), then any adjustments to the Non-Highly Compensated Employees ACP for the Prior Plan Year will be made in accordance with such Regulations, unless the Employer has elected in the Adoption Agreement to use the Current Year testing method.

  • Any adjustments to the Non-Highly Compensated Employee ADP for the Prior Plan Year will be made in accordance with IRS Notice 98-1 and any superseding guidance, unless the Employer has elected in the Adoption Agreement to use the current year testing method.

  • Any adjustments to the Non-Highly Compensated Employee ACP for the Prior Plan Year will be made in accordance with IRS Notice 98-1 and any superseding guidance, unless the Employer has elected in the Adoption Agreement to use the Current Year testing method.

  • Any Prior Plan Year DCAP Amounts that remain after all reimbursements have been made for the Plan Year and its related Grace Period shall not be carried over to reimburse the Participant for expenses incurred in any subsequent period.

  • For example, Prior Plan Year DCAP Amounts may not be used to reimburse Medical Care Expenses.


More Definitions of Prior Plan Year

Prior Plan Year a plan year or fiscal year or portion thereof, to --------------- the extent applicable with respect to any Plan, ending on or prior to the Cut- off Date. Profit Sharing Plan: a salary reduction contribution plan maintained ------------------- pursuant to Sections 401(a) and 401(k) of the Code for Employees and their beneficiaries, as specifically identified using one of the categories described below:
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Related to Prior Plan Year

  • Plan Year means the calendar year.

  • Prior Plan Award means an award outstanding under the Prior Plan as of the Effective Date.

  • Prior Plan means the coverage provided on a group or group-type basis by the group insurance policy, benefit plan or service plan that was terminated on the day before the Effective Date of the Plan and replaced by the Plan.

  • Plan Year(s means the approximate twelve-month periods between annual meetings of the shareholders of the Company, which, for purposes of the Plan, are the periods for which annual retainers are earned.

  • Top Heavy Plan Year means a Plan Year during which the Plan is a Top Heavy Plan.

  • 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

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.

  • Prior Plans means, collectively, the Company’s 2006 Long-Term Incentive Plan, as amended, 2009 Long-Term Incentive Plan, 2012 Long-Term Incentive Plan and 2013 Long-Term Incentive Plan. Awards granted under the Prior Plans continue to be governed under the terms of those Prior Plans.

  • Matching Period has the meaning specified in Section 5.4(1)(e).

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • 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."]

  • 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.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • 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).

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Vesting Year means a unit of Service credited to a Participant pursuant to Section 9.2 for purposes of determining his vested interest in his 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.

  • Limitation Year means the Plan Year.

  • 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.

  • Deferral Period has the meaning set forth in Section 3(h) hereof.

  • 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.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • Plan Termination Date means the date that is ten (10) years after the Effective Date, unless the Plan is earlier terminated by the Board pursuant to Section 15 hereof.

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.