Safe Harbor Account definition

Safe Harbor Account means an account established for each Participant to which are credited Safe Harbor Contributions, together with all earnings and appreciation thereon, and against which are charged any withdrawals of amounts credited to such account and losses, depreciation and expenses allocable to amounts credited to such account.
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Safe Harbor Account means the account maintained for a Participant to which is credited the Safe Harbor Contributions made on account of the Participant, as adjusted in accordance with Article 6.
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Examples of Safe Harbor Account in a sentence

  • Such amount representing contributions shall be transferred to and held in the Before-Tax Account, Company Match Safe Harbor Account, After-Tax Account, Profit Sharing Account and Rollover Account.

  • The distribution or withdrawal from a Participant’s Roth Elective Deferral Account shall be governed by Articles 9 and 10 (or as required as a corrective distribution according to Article 5), and shall be treated in a similar manner as distributions or withdrawals from the Participant’s ADP Test Safe Harbor Account.

  • The Profit Sharing Account and Safe Harbor Account (as applicable) of a Participant who has attained his Normal Retirement Date shall be fully vested and nonforfeitable.

  • VESTING When there is no risk that you will forfeit a particular portion of the amounts contributed to (and earned on) your Account under the Plan, you are said to be “vested” in those amounts.You are always 100% vested in your Employee Account, Employee After-Tax Account, Rollover Account, NPC Deferral Account, NPC Safe Harbor Account, NPC Rollover Account, UAS Deferral Account and UAS Rollover Account.

  • The amounts allocated to any Participant’s Profit Sharing Account, Employer Base Account and Safe Harbor Account (as applicable) under this Article shall for all purposes be deemed to have been credited not later than the Allocation Date that occurred within the Plan Year as to which the contributions were made.

  • Any distribution made pursuant to this Section shall be made in a manner consistent with Article 5, including, but not limited to, all notice and consent requirements of Code Section 411(a)(11) and the Regulations thereunder.Notwithstanding the above, pre-retirement distributions from a Participant’s Elective Account and/or Safe Harbor Account shall not be permitted prior to the Participant attaining age 59 1/2 except as otherwise permitted Sections 4.2, 5.1, 5.2, 5.3, 5.4 and 5.16.

  • As of the date of death of a Participant, his Profit Sharing Account and Safe Harbor Account (as applicable) shall be fully vested and nonforfeitable and shall be deemed to have become a Distributable Account.

  • A P articipant who has attained age 59-1/2 may withdraw such amounts as he may elect from the B efore-Tax C ontributions, R oth 401(k) Account, R oth Rollover Account, and C ompany Match Safe Harbor Account sections of his A ccount.Regular Withdrawals for any P articipant are limited to four (4) per calendar year.Any P articipant not otherwise described above shall not be eligible to make withdrawals from his E mployer Accounts.

  • Many Radical Feminists had prior experience in the Civil Rights battles of the 1960’s.

  • A Safe Harbor Account shall be deemed to have been established on the date upon which, or as of which, the Plan is first intended to qualify as a safe harbor “qualified automatic contribution arrangement” plan under Code Section 401(k)(13).

Related to Safe Harbor Account

  • 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

  • Safe Harbor Amount means 2.99 times the Executive’s “base amount,” within the meaning of Section 280G(b)(3) of the Code.

  • 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.

  • 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."]

  • Safe Harbor Election has the meaning set forth in Section 10.2(d).

  • 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.

  • Safe Harbor has the meaning set forth in Section 10.2(d).

  • 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.

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

  • 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.

  • Nonelective Contribution means an amount contributed by a participating

  • 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.

  • Safe Harbors has the meaning set forth in Section 11.3.C hereof.

  • 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.

  • 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.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • 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).

  • Qualified Nonelective Contributions means contributions of the Plan Sponsor or an Affiliate, other than Matching Contributions or Elective Deferrals, which are 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 Code Section 401(k)(2)(B) and the regulations thereunder.

  • 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.

  • 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.

  • 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.

  • Elective Contributions are amounts excludible from the Employee's gross income under Code Sections 125, 402(a)(8), 402(h) or 403(b), and contributed by the Employer, at the Employee's election, to a Code Section 401(k) arrangement, a Simplified Employee Pension, cafeteria plan or tax-sheltered annuity. The term "Compensation" does not include:

  • 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.

  • 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.

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

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.