Former Participants definition

Former Participants means all persons who are a “Former Participant” (as defined in Section 1.24 above).
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Former Participants are individuals who had an active Plan account during the Class Period, but do not have a Plan account with a positive balance as of the date the Court issues its preliminary approval of the Settlement. Former Participants will receive payment under the Settlement in the form of a check with taxes withheld (if applicable) and do not need to submit any paperwork to receive a payment under the Settlement, unless they elect to receive their payment through a rollover to a qualified retirement account. If you are a Former Participant who would prefer to receive their settlement payment through a rollover to a qualified retirement account, you must complete, sign and mail the enclosed Former Participant Rollover Form by 14 days before the Fairness Hearing. If you are a Former Participant who timely submits a valid Former Participant Rollover Form, the Settlement Administrator will effect a rollover of your share of the Net Settlement Fund to your qualified retirement account that you indicated in that Form after the Settlement has received final approval and/or after any appeals have been resolved in favor of the Settlement. If you are a Former Participant and do not complete, sign, and mail a Former Participant Rollover Form, a check in the amount of your share of the Settlement Fund will be issued to you after the Settlement has received final approval and/or after any appeals have been resolved in favor of the Settlement. If your mailing address has changed, please contact the Settlement Administrator at 0-000-000-0000 to provide your current address and ensure your payment is sent there.
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Former Participants has the meaning set forth in Section 6.10(a).
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Examples of Former Participants in a sentence

  • Class Members fall into two categories: Current Participants and Former Participants.

  • Former Participants who are entitled to a distribution will receive their distribution as a check mailed to their last known address or, if they elect, as a rollover to a qualified retirement account.

  • Former Participants that would like to elect to receive their settlement payment through a rollover to a qualified retirement account must complete, sign, and mail this form with a postmark on or before 14 days before Fairness Hearing, , 2024.

  • The Settlement Amount specifically satisfies any and all claims for costs and attorneys’ fees by Class Counsel, claims for Case Contribution Awards to Named Plaintiffs, any costs or expenses of the Class Notice, the costs of the Independent Fiduciary and compliance with CAFA, and all taxes on the Qualified Settlement Fund, in addition to any amounts to be distributed to Current Participants and Former Participants pursuant to this Settlement.

  • The Settlement Administrator will mail Non-Rollover Electing Former Participants checks no earlier than 30 days from the date it sends the Current Participant’s Plan Distribution Allocation File to the Plan recordkeeper.

  • Upon issuing the check to the Non-Rollover Electing Former Participant, in a letter accompanying such check, the Settlement Administrator shall advise the Non-Rollover Electing Former Participants that they alone bear responsibility for complying with any Qualified Domestic Relations Order that may apply to the Settlement payment.

  • For each check issued, the Settlement Administrator shall: (1) calculate and withhold any applicable taxes associated with the payments allocable to the Non-Rollover Electing Former Participant; (2) report such payments and remit such tax withholdings to the Internal Revenue Service and applicable state revenue agents; and (3) issue appropriate tax forms to the Non-Rollover Electing Former Participants.

  • Former Participants who do not complete and timely return this form will receive their settlement payment by a check payable to them.

  • For Non-Rollover Electing Former Participants, the Settlement Administrator will issue a single check in the amount of their Final Entitlement Amount less any applicable taxes and will mail the check to the best available address on file for such Non-Rollover Electing Former Participant or, in the case of ambiguity or uncertainty, to the address of such person as determined by the Settlement Administrator using commercially reasonable means.

  • However, Former Participants who elect to receive their payment through a rollover to a qualified retirement account.


More Definitions of Former Participants

Former Participants means Claimants who are former Plan participants or beneficiaries thereof.
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Former Participants. If a Participant's employment has been terminated, he shall resume participation in the Plan immediately upon rehire.
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Former Participants means all participants, Beneficiaries, and Alternate Payees of the Costco 401(k) Retirement Plan (excluding the Defendants or any participant/beneficiary who is a fiduciary to the Plan) who do not have a Plan account as of the date the Settlement Class is certified by the Court, and had a Plan account on or after the last business day of a month on and after May 30, 2014, provided that such Plan account attained a balance in excess of $1000 for at least 12 months beginning on and after May 30, 2014 (such balance and such months to be calculated as of the last business day of a month).
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Related to Former Participants

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • Participants is defined in Section 12.2.1.

  • CDS Participants means a broker, dealer, bank or other financial institution or other person for whom CDS effects book-entry transfers and pledges of Deposit Notes under the Book-Entry System.

  • Eligible Participants means persons who, at a particular time, are employees, officers, consultants, or directors of the Company or its subsidiaries;

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

  • Participant has the meaning specified in Section 10.06(d).

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • CDS Participant means a participant in CDS that holds security entitlements in Units on behalf of beneficial owners of those Units;

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Retirement fund means the "Washington law enforcement

  • Eligible Employees means each employee of the Company or an Affiliate.