Elective Deferral Account Sample Clauses
An Elective Deferral Account is a designated account within a retirement or benefit plan where an employee's chosen pre-tax salary deferrals are deposited. Contributions to this account are typically made through payroll deductions, allowing employees to set aside a portion of their earnings before taxes are applied. The account accumulates these contributions and any investment earnings until the employee becomes eligible to withdraw the funds, usually at retirement. This clause ensures that employee deferrals are properly tracked and managed, facilitating tax-deferred savings and compliance with plan requirements.
Elective Deferral Account. The Plan applies a Participant’s elections only to the Participant’s Elective Deferral Account. The Employer will make all payment elections as to Nonelective and Matching Contribution Accounts.
Elective Deferral Account. “Elective Deferral Account” shall mean the ledger account maintained by the Committee for each Member that reflects the Elective Deferral made by the Member and any Investment Gain or Loss attributable to such deferral.
Elective Deferral Account. The Plan applies a Participant's elections only to the Participant's Elective Deferral Account. The Employer will make all payment elections as to Nonelective and Matching Contribution Accounts. Note: A Participant must elect a payment event from those which the Employer has elected under 4.01 above, unless the Employer has permitted a Participant to elect the 409A permissible payment events. A Participant in his/her election form may limit the payment election to Compensation Deferred at the time of the election or also may apply the payment election to all future Deferred Compensation.
Elective Deferral Account. The term Elective Deferral Account means the sub-account of a Participant’s Account to which the Participant’s Elective Deferrals are credited.
Elective Deferral Account. The portion of a Participant's Accrued Benefit which consists of contributions made to the Plan during the Plan Year by the Employer at the election of the Participant, in lieu of cash Compensation and shall include contributions made pursuant to a salary reduction agreement.