Vested account definition

Vested account means an individual account within a defined contribution plan that is for the

Vested account means an individual account within a defined contribution plan that is for the exclusive benefit of a member or the member's beneficiary. A vested account includes all contributions and the income on all contributions in each of the following accounts:

Vested account means an account that has initially qualified for matching funds by meeting requirements over a three-year period.

Examples of Vested account in a sentence

• Unless an optional form of benefit is selected pursuant to a qualified election within the 90-day period ending on the annuity starting date, a married Participant's Vested account balance will be paid in the form of a qualified joint and survivor annuity and an unmarried Participant's Vested account balance will be paid in the form of a life annuity.

• The aggregate value of the Participant's Vested account balances derived from Employer and Nondeductible Employee Contributions (including rollovers), whether Vested before or upon death, including the proceeds of insurance contracts, if any, on the Participant's life.

• The surviving spouse may elect to have distribution of the Vested account balance commence within the 90-day period following the date of the Participant's death.

• In the case of a profit sharing plan, Vested account balance shall have the same meaning as provided in Section 6.05(D)(7).

• For purposes of this Section 6.05(F), Vested account balance shall mean, in the case of a money purchase pension plan or a target benefit plan, the Participant's separate account balance attributable solely to accumulated deductible employee contributions within the meaning of Section 72(o)(5)(B) of the Code.

More Definitions of Vested account

Vested account means a Participant’s Separation from Service Account balance plus Plan Sponsor Contribution Account balance plus other amounts vested in accordance with Section 4.1 below.

Vested account. Balance shall mean, in the case of a money purchase pension plan, the Participant's separate account balance attributable solely to Qualified Voluntary Contributions. For profit-sharing plans the above definition shall apply.

Vested account means the account established for a Vested Participant pursuant to Section 5.01 on terms acceptable to the Corporation.

Vested account means an account agreement which has been in full force

Vested account means that portion of a Participant’s Account which, on the particular date of determination, is vested under the provisions of Section 7.3.

Vested account means the account maintained in accordance with Article XIV reflecting an Employee’s vested interest in the Company’s contributions made prior to a Severance Period, including net earnings or losses thereon.

Vested account means the portion of the Participant's Account that is currently non-forfeitable or Vested under the Plan.