VEBA Account definition

VEBA Account means any voluntary employee beneficiary association account that is funding a health reimbursement arrangement (either Section 501(c)(9) trusts or Section 115 trusts).
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VEBA Account means an account maintained under the VEBA Plan immediately prior to the Merger containing elective deferrals, matching contributions, rollover contributions and after-tax contributions (as applicable) for a VEBA Member.
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Examples of VEBA Account in a sentence

  • The School Corporation shall contribute the remaining thirty percent (30%) of the total sum of the amount calculated by FSC as the present Value for the Retirement benefit contained in the Prior Agreement into a VEBA Account.

  • The HRA would be converted to an HSA or VEBA Account beginning on or before December 31, 2011, and all funds that are in the HRA at that time would be converted to the HSA/VEBA.

  • The District shall contribute an amount, as shown in the table below, to each bargaining unit employee’s VEBA Account per month.

  • Forfeited Funds-To the extent allowed by IRS regulations, any and all 401(a) Account and VEBA Account funds forfeited by an employee as a result of the employee separating their employment without vesting in part or in whole, shall continue to be held in the 401(a) Plan or VEBA, as applicable, and will be used to offset the School Corporation’s obligations to make employer contributions to the 401(a) Plan and VEBA in the future.

  • Each VEBA Member who is not then employed by an Employer shall become a member on April 2, 2001, but solely with respect to his VEBA Account unless he otherwise qualifies as a Member under the Plan.

  • In such case, the total amount in the employee’s 401(a) Account and the employee’s VEBA Account will be full vested and assignable to the employee’s eligible beneficiary, if any, subject to applicable Federal and State statutes.

  • The employee must meet the eligibility requirements to retire under PERS Tier 2 or 3, and the employee’s final rate of pay shall be used to calculate the City’s contribution into the employee’s HRA VEBA Account.

  • Our references will be based on our contacts and rental experience with the Resident.

  • Funds transferred to the Trustee in respect of a Member’s VEBA Account shall be allocated under the Plan to such Member’s Elective, Matching, and Rollover Subaccounts, as applicable.

  • Funds from a VEBA Account, if applicable, may be used by the retired school employee to pay the premiums for this coverage.

Related to VEBA Account

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

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

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

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

  • Investment Account As defined in Section 3.12(a).

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Participating Account a separate account investing all or a portion of its assets in the Trust, including the Account.

  • 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.

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • Regular account means the account established for each active and inactive member un-

  • Member Account means the regular account and the variable account.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Separate Accounts means the accounts which are to be prepared for each

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

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • 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.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Checking Account means a Demand Deposit account (DDA), a Negotiable Order of Withdrawal (NOW) account, a Savings account and a Money Market account at the Bank that you open through the Bank website; "Account" includes any Checking, Certificate of Deposit, or Savings account at the Bank opened through the Website or in person; "Card" means an automated teller machine card and/or a VISA debit card that accesses your Checking, Savings, Money Market, or NOW account; "PIN" means the personal identification number you use in connection with your Card; "Password" means the password you use to access the Website and your Bank Accounts through a personal computer or other electronic terminal; "Access Device" means your Card, Password, or other device or code we make available to you to access your Accounts; "Business Day" means Monday through Friday, except federal holidays; and "Authorized User" means any person you authorize or permit to use your Card, Password or other Access Device to access your Accounts, whether that person uses the Access Device to obtain information or to conduct a transaction. This EFT Agreement is part of the Banking Documents. Other terms used in this EFT agreement may be defined elsewhere in the Banking Documents. • ATM Safety • Funds Transfers • Other Electronic Fund Transfer Services • Liability For Unauthorized Electronic Transfers • Other Electronic Fund Transfer Services Types of Transactions‌ We offer the following types of Electronic Fund Transfers (EFT) Services for your Checking Account. • Direct Deposits. You can arrange for direct deposits to your checking and savings account(s). • Preauthorized Credits/Debits. We accept, on your behalf preauthorized Credits/Debits drawn on your Deposit Accounts which allow unrestricted activity. Through our electronic bill payment service, you are able to electronically transfer funds from your Deposit Account to other parties, provided the account allows such activity. We may conduct these transactions via Automated Clearinghouse (ACH) transfer. We may also accept and direct funds by wire transfer. Each of these services has unique fees associated with the transaction. Please consult our Schedule of Fees herein. When you provide the party initiating the withdrawal or deposit with advance authorization to make recurring ACH transfers to or from your Account, the transfers are referred to as "preauthorized transfers." Because these preauthorized transfers are performed electronically through the ACH, they are governed by federal regulations pertaining to EFT Services, which entitle you to certain benefits and protections in connection with the EFT Services, such as the right to receive a copy of your written authorization to make preauthorized transfers from your Account from the party that obtains it. • ATM and Point-of-Sale Transactions. ATM Transactions. ATM Cards issued by us to you remain our property and you may be requested to return the Card to us at any time for any reason. Each card is used in conjunction with an authorizing Personal Identification Number ("PIN"). To guard against someone initiating a transaction that you have not authorized, you must take all reasonable precautions to prevent any other person from learning your PIN. If you permit or authorize another person to use your Card and PIN, you will be liable for all resulting transactions. You may use your Card at ATMs which are a part of an Electronic Funds Transfer service network to which the Bank belongs ("EFT network"). ATM withdrawals are available up to the daily authorization limits disclosed below, provided the available balance in the Deposit Account associated with your card is greater than or equal to the amount requested, plus any fees that may be charged along with the cash disbursement. • Withdraw cash from your Checking Account. • Find out your Checking Account balances. • Transfer funds between your own accounts at the Bank (if available on the ATM in use). • Withdraw cash from your Savings Account. • Make deposits to your own accounts.

  • 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.