Salary Reduction Account definition

Salary Reduction Account means an Employee's Salary Reduction contributions, related Employer matching contributions, and investment gains and losses therefrom.

Salary Reduction Account means the Account to which are credited a Participant’s Salary Reduction Contributions, including his Catch-Up Contributions, adjustments for withdrawals and distributions, and the earnings, losses and expenses attributable thereto.

Salary Reduction Account means the separate bookkeeping account to be kept for each Participant to which Salary Reduction Credits shall be credited. Separate sub-accounts shall be established and maintained with respect to each separate bookkeeping account, which sub-accounts shall include a “Fixed Rate Account,” one or more “Investment Fund Accounts” and a “Company Stock Account.” The Fixed Rate Account, the Investment Fund Accounts and the Company Stock Account shall be adjusted in the manner provided in Section 7.

Examples of Salary Reduction Account in a sentence

• The Member’s Salary Reduction Contributions shall be credited to a Salary Reduction Account established under the Plan in the name of the Member.

• All other amounts credited to the Salary Reduction Account will be credited to the Unmatched Salary Reduction Subaccount.

• A Member shall at all times have a nonforfeitable interest in the portion of his Accrued Benefit derived from his Salary Reduction Account.

• Any such additional qualified nonelective contributions will be credited to a Participant’s Salary Reduction Account and shall be allocated to each Participant who is not a Highly Compensated Employee in an amount as determined by the Company and will be contributed as a percentage of such Participant’s Compensation for the Plan Year.

• Each Member's salary reduction contributions, as adjusted for investment gain or loss and income or expense, constitute such Member's Salary Reduction Account.

More Definitions of Salary Reduction Account

Salary Reduction Account means a notional account maintained by the Company under which all amounts by which an Employee elects to have his or her salary reduced under Section 4 on a pre-tax basis or as a Roth elective deferral shall be credited.

Salary Reduction Account means the account established to record Salary Reduction Accruals authorized by Participants under the terms of this Plan.

Salary Reduction Account means that portion of a Participant's Account to which Employer contributions funded pursuant to the Participant's compensation deferral election are credited pursuant to section 4.2.

Salary Reduction Account means the portion of the Member's Accrued Benefit derived from contributions made under subsection 4(a) hereof and the corresponding provisions of the Plan as heretofore effective, adjusted as provided in subsection 4(c).

Salary Reduction Account means a notional account maintained by the Company under which all amounts by which an Employee elects to have his or her salary reduced under Section 4 shall be credited.

Salary Reduction Account means the account established pursuant to Section 4.1(a), below, to which the Participant’s Salary Reduction Contributions are allocated.

Salary Reduction Account means an account established for a Participant pursuant to Article IV.