QNEC Account definition

QNEC Account means an Account to which Qualified Nonelective Contributions are allocated.

QNEC Account means the Account to which are credited QNECs made on behalf of a Participant pursuant to Section 3.5(f) and earnings or losses on those contributions.

QNEC Account means the Account to which QNECS and any earnings or losses on those contributions are credited on behalf of a Participant under Section 4.4(f).

Examples of QNEC Account in a sentence

• The Plan Administrator will establish a separate QNEC Account for each Participant who receives an allocation of QNECs in accordance with Section 7.04(A)(1).

• A Participant's Restricted Balances are the Participant's Elective Deferral Account under an Annuity Contract, all Accounts under a Custodial Account (or transferred from a Custodial Account), QNEC Account and Safe Harbor Contributions Account.

• Any Nonelective Contributions allocated to a Participant’s QNEC Account under the Plan automatically satisfy and are subject to the QNEC definition.

• A Participant is always fully vested in his/her Salary Deferral Account, After-Tax Contribution Account, QNEC Account, QMAC Account, Safe Harbor Employer Contribution Account, Safe Harbor Matching Contribution Account, and Rollover Contribution Account.

• A QNEC must be subject to the same distribution restrictions applicable to Salary Deferrals under Section 8.09(c), except that no portion of a Participant’s QNEC Account may be distributed on account of Hardship.

More Definitions of QNEC Account

QNEC Account means the subaccount of the participant that is credited with qualified nonelective contributions made on behalf of the participant to the plan or the predecessor plan.

QNEC Account means the account maintained for a Participant to record his share of QNECs under Section 4.1(e) and adjustments relating thereto.

QNEC Account. The account of a Participant in the Fund attributable to QNEC Contributions by the Employer. The QNEC Account shall be subdivided into two accounts. One account shall be known as the "Company Stock QNEC Account" and consists of contributions made thereto for periods after February, 1997 allocated thereto pursuant to subparagraph 3.2(c) which are required to be invested in the Company Stock Fund; and the other account shall be known as the "Unrestricted QNEC Account" and consists of contributions which are not required to, but may, be invested in the Company Stock Fund. This account was last referred to as the "Qualified Nonelective Contributions Account" in the Plan as in effect immediately prior to this Restatement of the Plan.

QNEC Account means that account of a Participant to which are credited any QNEC made on behalf of the Participant, adjustments for allocations of income and loss, withdrawals and all other information affecting the value of such Account.

QNEC Account means the portion of the Individual Account maintained by the Trustee or the Recordkeeper for each Participant, Former Participant or Beneficiary on and after April 1, 2006, reflecting the monetary value of such person’s individual interest in the Trust Fund attributable to QNECs made to the Plan and the earnings and losses thereon.

QNEC Account means the Account to which are credited ------------ Qualified Nonelective Contributions and gains and losses thereon.

QNEC Account means any account under the Plan credited with QNEC Contributions made to the Plan or similar contributions made to a Prior Plan and any earnings on those contributions.