Qualified Reservist Distribution means a distribution (i) from an IRA or elective deferrals under a section 401(k) or 403(b) plan, or a similar arrangement, (ii) to an individual ordered or called to active duty after September 11, 2001 (because he or she is a member of a reserve component) for a period of more than 179 days or for an indefinite period, and (iii) made during the period beginning on the date of the order or call and ending at the close of the active duty period.

Qualified Reservist Distribution means a distribution of all or a portion of the balance in the employee's account under such arrangement if: (A) such individual is a member of a "reserve component" (as defined in section 101 of title 37, United States Code, which means a member of the Army National Guard; U.S. Army, Navy, Marine Corps, Air Force, or Coast Guard Reserve; Air National Guard of the United States; or the Reserve Corps of the Public Health Service); (B) has been ordered or called to active duty for a period in excess of 179 days or for an indefinite period; (C) the amount of the distribution must be for "all or a portion of the balance in the employee's account"; and (D) the distribution must be made within a certain timeframe. The period for making a qualified reservist distribution begins on the date the reservist is called or ordered to duty and ends on the last day that reimbursements could otherwise be made for the plan year that includes the first day of the distribution period.

Qualified Reservist Distribution means a distribution to a Participant of all or a portion of the balance of the Participant's FSA contribution if: (i) the Participant is a member of a reserve component, as defined by 37 U.S. C. § 101, ordered or called to active duty for a period of 180 days or more or for an indefinite period; and (ii) the request for distribution is made during the period beginning with the order or call to active duty and ending on the last day of the Plan Year that includes the date of the order or call to active duty. If the period specified in the order or call is less than 180 days, a Qualified Reservist Distribution is not allowed. However, a subsequent call or order that increases the total period of active duty to 180 days or more will qualify a Participant for a Qualified Reservist Distribution.

Examples of Qualified Reservist Distribution in a sentence

A Qualified Reservist Distribution is a distribution of all or a portion of the amounts remaining in your Health Flexible Spending Account.
If you are a member of a reserve unit and if you are ordered or called to active duty, then you may request a Qualified Reservist Distribution (QRD).
A Qualified Reservist Distribution is a distribution received from an IRA by members of the National Guard or reservists who are called to active duty for a period of at least 180 days and such distribution is taken during the period of such active duty.
If a Participant takes a Qualified Reservist Distribution, such distributions will not be subject to the 10% penalty tax under Code §72(t).
Under the Health FSA Component, a Participant may receive a distribution of all or a portion of the balance in the employee's account if the distribution qualifies as a "Qualified Reservist Distribution".

More Definitions of Qualified Reservist Distribution

Qualified Reservist Distribution means a distribution to a Participant which includes a portion or the balance in the Participant's Health Flexible Spending Account as described in the Article titled: "Qualified Reservist Distribution".

Qualified Reservist Distribution means a distribution from the Participant’s Account of amounts attributable to Deferral Contributions, provided such distribution is made during the period beginning on the date of the order or call to active duty and ending at the close of the active duty period.

Qualified Reservist Distribution means a distribution to an individual of all or a portion of the balance in such individual’s Health Flexible Spending Account if:

Qualified Reservist Distribution means a distribution of the unused contributions to a Medical Flexible Spending Account under Section 125(h) of the Code to a reservist (as defined in 37U.S.C. § 101) ordered or called to active duty as provided in Section 4.14. Qualified Reservist Distributions shall only be allowed if the Employer has elected to permit such distributions as specified in the Plan Highlights.

Qualified Reservist Distribution or “QRD” means the taxable distribution of the balance of a Qualified Reservist’s HCFSA as set forth in Section 4.22.