Vested Balance definition

Vested Balance means that amount in a Participant’s Accounts that is nonforfeitable and shall be calculated, on any given date, as follows: (a) the Participant’s Total Balance; minus (b) any nonvested amounts in the Participant’s Employer Account that would be subject to Forfeiture if the Participant were to Separate from Service as of that date.

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Vested Balance means the amount determined under Subsection 10.2(b).

Vested Balance means all contributions made by the member and

Examples of Vested Balance in a sentence

• If the vesting schedule of the Plan is amended, or the Plan is amended in any way that directly or indirectly affects the computation of the vested interest of Participants (or if the Plan is deemed amended by an automatic change to or from a Top-Heavy vesting schedule), each Participant with at least three (3) Years of Service with the Employer may elect, within a reasonable period after the adoption of the amendment, to have his Vested Balance computed under the Plan without regard to such amendment.

• Furthermore, no such amendment may decrease the Vested Balance of a Participant, nor may it eliminate or reduce an Early Retirement benefit, nor may it eliminate a Protected Benefit.

• No amendment shall, directly or indirectly, decrease (but may increase) a Participant’s Vested Balance in his Employer Account, determined as of the later of the date the amendment is adopted, or the date such amendment is effective.

• If the Participant dies after distribution of his Vested Balance has commenced, the remaining portion of such Vested Balance shall continue to be distributed at least as rapidly as under the method of distribution being used prior to the Participant’s death.

• If the Participant elects to have distributed less than his entire Vested Balance, the part of the non-vested portion which shall be subject to Forfeiture is the total non-vested portion multiplied by a fraction, the numerator of which is the amount of the distribution from the Employer Account and the denominator of which is the total value of the Employer Account of such Participant.

More Definitions of Vested Balance

Vested Balance means in relation to an Employee Member or a VC Employee Member on a particular date the number of Units or percentage of the balance of

Vested Balance of a Participant's accounts means the portion of such accounts which is nonforfeitable pursuant to the Provisions of Section 7.2. The "Nonvested Balance" of such accounts shall mean that percentage which is forfeitable pursuant to the provisions of Section 7.3.

Vested Balance as of a given date shall mean the aggregate balances of a Member's Matched After-Tax Contributions Account, Unmatched After-Tax Contributions Account, Elective Contributions Account, Qualified Nonelective Contributions Account, Qualified Matching Contributions Account, and Rollover Account, plus the Member's vested interest in his or her Matching Contributions Account, as determined under section 6.2.

Vested Balance of any Participant's Company Matching Account shall be a percentage of that account based upon the Participant's years of Vesting Service as set forth in the following schedule: Years of Vesting Service Percentage ------------------------ ---------- Fewer than 3 0% 3 20% 4 40% 5 60% 6 80% 7 or more 100%

Vested Balance of a Participant's Company Matching Account means that percentage of such account which is nonforfeitable pursuant to the provisions of Section 8.2. The "Nonvested Balance" of such account shall mean that percentage which is forfeitable pursuant to the provisions of Section 8.3.

Vested Balance means the vested portion of a Participant’s Account.

Vested Balance means the portion of a Participant’s Account which is vested in accordance with Section 4.3.