Savings Contribution Account definition

Savings Contribution Account means an account attributable to a Participant’s Savings Contributions, as adjusted for earnings and losses thereon;
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Savings Contribution Account means an account established ---------------------------- pursuant to paragraph (b) of Article VII of the Plan to hold Savings Contributions made pursuant to paragraph (a) of Article VI of the Plan.
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Savings Contribution Account means an account established pursuant to section 7.2 of the Plan with respect to contributions made under salary reduction arrangements pursuant to section 6.1 of the Plan.
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Examples of Savings Contribution Account in a sentence

  • Participants, except for terminated participants, may also make in-service withdrawals from their Pre-Tax Savings Contribution Account in the event of a demonstrated severe financial hardship as defined by the IRS Safe Harbor rules.

  • A Participant shall always be one hundred percent (100%) vested in amounts credited to his or her Nonqualified Savings Contribution Account and Nonqualified Excess Contribution Account.

  • A Participant may elect to receive his Savings Contribution Account for a Plan Year as an In-Service Distribution, either: (i) in a lump sum in a Plan Year selected by the Participant; or (ii) in annual installments over a period of two (2) to five (5) years, commencing in a Plan Year selected by the Participant.

  • A Participant shall be fully vested in his Savings Contribution Account at all times.

  • The amount of each Participant’s Savings Contribution shall be credited to the Participant’s Savings Contribution Account within five (5) business days of the date on which such amount would have been paid to the Participant but for the Participant’s election to defer receipt thereof.

  • A Participant may contribute, by payroll deduction, any whole percentage of the Participant’s Compensation for each pay period to the Participant’s Savings Contribution Account, subject to the following maximum percentages: (i) 50% of the Participant’s Compensation if the Participant is not a Highly Compensated Employee, and (ii) 22% of the Participant’s Compensation if the Participant is a Highly Compensated Employee.

  • As of any Valuation Date, a Member who is an Employee may, by giving proper notice, elect to withdraw from such Member's Pre-1987 Savings Contributions Subaccount under his Savings Contribution Account any dollar amount of such contributions without investment earnings thereon.

  • Each Member shall have an Employer Contribution Account, a Savings Contribution Account, a Salary Deferral Contribution Account and/or a Rollover Account.

  • If a Participant who has elected to receive an In-Service Distribution of all or a portion of his Savings Contribution Account incurs a Separation from Service for any reason prior to payment of all scheduled In-Service Distributions, all remaining scheduled In-Service Distributions shall be made to the Participant (or to his Beneficiary in the event of his death) in a single lump sum.

  • The Employee Savings Contribution shall be paid to the Trust as soon as practicable but in no event later than the fifteenth (15th) business day of the calendar month immediately following the calendar month in which the payroll period ends and shall be credited to the Employee Savings Contribution Account of the Participant.


More Definitions of Savings Contribution Account

Savings Contribution Account means the bookkeeping account maintained under the Plan for a Participant to record the Savings Contributions made to the Plan on his behalf, as increased by investment earnings and reduced by investment losses thereon.
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Savings Contribution Account means the separate Account maintained for a Participant to record his share of the Trust Fund attributable to Savings Contributions made on his behalf.
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Related to Savings Contribution Account

  • 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.

  • 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.

  • 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.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • 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.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • 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.

  • 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.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • 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

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • 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.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

  • 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.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

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

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • 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.

  • 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.