Separate Plan Account definition

Separate Plan Account means the sub-account of the Participant’s Plan account that the Plan Administrator or Plan Agent causes to be maintained for the benefit of the Alternate Payee consistent with this Order.
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Separate Plan Account has the meaning ascribed to such term in Section 5.1.
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Examples of Separate Plan Account in a sentence

  • The establishment of a Separate Plan Account hereunder shall be for accounting and bookkeeping purposes only and shall not require a segregation of any part of the assets of the Trust Fund, and no Participating Plan, or a participant or former participant of a Participating Plan, shall acquire any right to or interest in any specific asset of the Fund.

  • The assets so allocated to each Separate Plan Account shall be segregated in a separate account and shall be administered as a separate trust in accordance with the terms of this Agreement until such time as the Employer executes a new trust agreement for such separate account or directs the Trustee to transfer such separate account to a Separate Trust; provided, however, all powers exercisable by the Sponsor hereunder shall be exercisable by the Employer with respect to such separate account.

  • The Trustee shall be under no duty to defend or engage in any suit with respect to the Fund or any Separate Plan Account unless the Trustee shall have first agreed in writing to do so and shall have been fully indemnified to its satisfaction.

  • The Trustee shall establish and maintain a separate plan account for each Participating Plan (the "Separate Plan Account") into which shall be paid the contributions made by the Employer for such Plan or transfer of assets from the Separate Trust for such Plan, which contributions and transfers, together with any income, gains or profits, less distributions, expenses and losses, shall comprise a separate trust fund for such Participating Plan.

  • All such payments shall be charged against the Separate Plan Account of the Participating Plan to which the payment relates.

  • Any such disbursements shall be charged against the Separate Plan Account of each Participating Plan in accordance with Section 5.9.

  • If an Employer maintains more than one Participating Plan, the Employer shall advise the Trustee as to which Separate Plan Account contributions made by it are to be credited.

  • The Trustee shall hold, invest, reinvest, manage, administer and distribute the assets of each Separate Plan Account, as hereinafter set forth, for the exclusive benefit of the employees participating in such Participating Plan and their beneficiaries.

  • Upon the termination of a Participating Plan, the Separate Plan Account of such Participating Plan shall be allocated and distributed or held by the Trustee as provided in such Participating Plan.

  • With the prior consent of the Sponsor, an Employer may direct the Trustee to transfer any part of the Separate Plan Account of a Participating Plan to a Separate Trust upon not less than thirty (30) days written notice to the Trustee.