Common use of Aggregate Account Clause in Contracts

Aggregate Account. A Participant’s Aggregate Account as of the “determination date” is the sum of: (1) the Participant’s Combined Account balance as of the most recent valuation occurring within a twelve (12) month period ending on the “determination date.” However, with respect to Employees not performing services for the Employer during the year ending on the “determination date,” the Participant’s Combined Account balance as of the most recent valuation occurring within a twelve (12) month period ending on the “determination date” shall not be taken into account for purposes of this Section. (2) an adjustment for any contributions due as of the “determination date.” Such adjustment shall be the amount of any contributions actually made after the Valuation Date but due on or before the “determination date,” except for the first Plan Year when such adjustment shall also reflect the amount of any contributions made after the “determination date” that are allocated as of a date in that first Plan Year. (3) any Plan distributions made within the Plan Year that includes the “determination date” or, with respect to distributions made for a reason other than separation from service, disability or death, within the five (5) preceding Plan Years. The preceding sentence shall also apply to distributions under a terminated plan which, had it not been terminated, would have been aggregated with the Plan under Code Section 416(g)(2)(A)(i). In the case of distributions made after the Valuation Date and prior to the “determination date,” such distributions are not included as distributions for top heavy purposes to the extent that such distributions are already included in the Participant’s Aggregate Account balance as of the Valuation Date. (4) any Employee contributions, whether voluntary or mandatory. However, amounts attributable to tax deductible qualified voluntary employee contributions shall not be considered to be a part of the Participant’s Aggregate Account balance. (5) with respect to unrelated rollovers and plan-to-plan transfers (ones which are both initiated by the Employee and made from a plan maintained by one employer to a plan maintained by another employer), if this Plan provides the rollovers or plan-to-plan transfers, it shall always consider such rollovers or plan-to-plan transfers as a distribution for the purposes of this Section. If this Plan is the plan accepting such rollovers or plan-to-plan transfers, it shall not consider such rollovers or plan-to-plan transfers as part of the Participant’s Aggregate Account balance. (6) with respect to related rollovers and plan-to-plan transfers (ones either not initiated by the Employee or made to a plan maintained by the same employer), if this Plan provides the rollover or plan-to-plan transfer, it shall not be counted as a distribution for purposes of this Section. If this Plan is the plan accepting such rollover or plan-to-plan transfer, it shall consider such rollover or plan-to-plan transfer as part of the Participant’s Aggregate Account balance, irrespective of the date on which such rollover or plan-to-plan transfer is accepted. (7) For the purposes of determining whether two employers are to be treated as the same employer in (5) and (6) above, all employers aggregated under Code Section 414(b), (c), (m) and (o) are treated as the same employer.

Aggregate Account. A Participant’s 's Aggregate Account as of the “determination date” Determination Date is the sum ofof the following: (1) the his Participant’s Combined 's Account balance as of the most recent valuation occurring within a twelve (12) 12 month period ending on the “determination date.” However, with respect to Employees not performing services for the Employer during the year ending on the “determination date,” the Participant’s Combined Account balance as of the most recent valuation occurring within a twelve (12) month period ending on the “determination date” shall not be taken into account for purposes of this Section.Determination Date; (2) an adjustment for any contributions due as of the “determination date.” Determination Date. Such adjustment shall be the amount of any contributions actually made after the Valuation Date but due on or before the “determination date,” Determination Date, except for the first Plan Year when such adjustment shall also reflect the amount of any contributions made after the “determination date” Determination Date that are allocated as of a date in that first Plan Year.; (3) any Plan distributions made within the Plan Year that includes the “determination date” or, with respect to distributions made for a reason other than separation from service, disability Determination Date or death, within the five four (54) preceding Plan Years. The preceding sentence shall also apply to distributions under a terminated plan whichHowever, had it not been terminated, would have been aggregated with the Plan under Code Section 416(g)(2)(A)(i). In in the case of distributions distribution made after the Valuation Date and prior to the “determination date,” Determination Date, such distributions are not included as distributions for top heavy purposes to the extent that such distributions are already included in the Participant’s 's Aggregate Account balance as of the Valuation Date.. Notwithstanding anything herein to the contrary, all distributions, including distributions made prior to January 1, 1987, and distributions under a terminated plan which if it had not been terminated would have been required to be included in an Aggregation Group, will be counted. Further, distributions from the Plan (including the cash value of life insurance policies) of a Participant's account balance because of death shall be treated as a distribution for the purposes of this paragraph; (4) any Employee contributions, whether voluntary or mandatory. However, amounts attributable to tax deductible qualified voluntary deductible employee contributions shall not be considered to be a part of the Participant’s 's Aggregate Account balance.; (5) with respect to unrelated rollovers and plan-to-plan transfers (ones which are both initiated by the Employee and made from a plan maintained by one employer to a plan maintained by another employer), if this Plan provides the rollovers or plan-to-plan transfers, it shall always consider such rollovers or plan-to-plan transfers as a distribution for the purposes of this Section. If this Plan is the plan accepting such rollovers or plan-to-plan transfers, it shall not consider such rollovers or plan-to-plan transfers accepted after December 31, 1983 as part of the Participant’s 's Aggregate Account balance.. However, rollovers or plan-to-plan transfers accepted prior to January 1, 1984 shall be considered as part of the Participant's Aggregate Account Balance; (6) with respect to related rollovers and plan-to-plan transfers (ones either not initiated by the Employee or made to a plan maintained by the same employer), if this Plan provides the rollover or plan-to-plan transfer, it shall not be counted as a distribution for purposes of this Section. If this Plan is the plan accepting such rollover or plan-to-plan transfer, it shall consider such rollover or plan-to-plan transfer as part of the Participant’s 's Aggregate Account balance, irrespective of the date on which such rollover or plan-to-plan transfer is accepted.; (7) For for the purposes of determining whether two employers are to be treated as the same employer in (5) and (6) above, all employers aggregated under Code Section 414(b), (c), (m) ), and (o) are treated as the same employer.