Examples of Rollover Accounts in a sentence
A Member shall have multiple separate accounts, namely an Employer Account, a Member Account, Employer Voluntary Account, Member Voluntary Account, and Member Rollover Account(s), as necessary.
A Participant shall have multiple separate sub-accounts, namely a Deferral Account and one or more Rollover Accounts, as necessary.
Notwithstanding any other provision of Section 8.1, a Participant who has one or more Rollover Accounts shall be permitted to withdraw all or any portion of such Rollover Accounts at any time during a Plan Year; provided that such withdrawal shall be paid pursuant to a method of payment elected by the Participant in accordance with Section 8.1(c) and the value of such Rollover Accounts shall be determined is accordance with Section 8.1(d).
The Administrative Service Agency shall establish and maintain one or more Accounts for each Participant, including a Before-Tax Deferral Account, a Roth Account (to the extent applicable) and, as necessary, one or more Rollover Accounts (including a segregated Rollover Account relating to contributions from a Qualified Roth Contribution Program, to the extent applicable) with respect to each Participant.
There are three types of Rollover Accounts to which Rollover Contributions are allocated: an After-Tax Rollover Account for Rollover Contributions of amounts which are not includible in gross income, as described in Section 402(c)(2)(A) of the Code, a Roth 401(k) Rollover Account for Rollover Contributions of amounts described in Section 402A of the Code, and a Before-Tax Rollover Account for all other Rollover Contributions.
Notwithstanding any other provision of Section 8.1, a Participant who has one or more Rollover Accounts shall be permitted to withdraw all or any portion of such Rollover Accounts at any time during a Plan Year; provided that such withdrawal shall be paid pursuant to a method of payment elected by the Participant in accordance with Section 8.1(c) and the value of such Rollover Accounts shall be determined in accordance with Section 8.1(d).
All Plan loans shall be secured, as of the date of the Plan loan, by the sum of (i) the Participant’s Before-Tax Deferral Account and Roth Account (to the extent applicable) and (ii) the Participant’s Rollover Accounts, if applicable, provided, however, that no more than 50% of the aggregate value of such Participant’s Accounts shall be used as security for the Plan loan.
The Administrative Service Agency shall establish and maintain one or more Alternate Payee Accounts, including, as applicable, separate Before-Tax Deferral Accounts, Roth Accounts (to the extent applicable), and Rollover Accounts with respect to each Alternate Payee.
The Vendor, in determining whether a Mandatory Distribution is greater than $1,000 (or the applicable lesser amount) for purposes of this Section 6.08(D), will include or exclude the portion of the Participant’s distribution attributable to any Rollover Contributions consistent with the Employer’s Adoption Agreement election to include or exclude Rollover Contributions in defining a Mandatory Distribution, subject to Section 3.08(E)(3)(d) regarding In-Plan Roth Rollover Accounts.
In the event an Employer elects the loan program under this Article VIII, loans shall be available from the Rollover Accounts of any Employees of the Employer who have not yet become Members.