Reallocation of Forfeitures. The ETA President shall receive a list of those teachers whose accounts have been terminated pursuant to this Appendix, which shall list the teacher’s name and the total value of the terminated accounts. The ETA President will receive this list on or before September 15. All of the forfeited amounts shall be reallocated at the end of each plan year only among the then remaining separate VEBA I accounts. Reallocation of forfeitures will be applied on an actuarially sound basis that is consistent with the model previously developed for the distribution of forfeited amounts (i.e. where allocation results are based upon age and number of years until projected retirement date for each teacher) and deposited in teacher accounts on or before October 15th. VEBA I accounts of teachers who have attained the age of fifty-nine (59) but who have not terminated employment may share in the reallocated forfeiture, but on a reduced actuarial basis. Teachers Prevented from Participation in Reallocation of Forfeitures: the VEBA I accounts of the following teachers will not share in the reallocation of a forfeiture of a VEBA I account. o Teachers who forfeited their VEBA I accounts in the same year, o Teachers who previously forfeited their VEBA I accounts; and o Teachers who have attained the age of fifty-nine (59) and terminated employment in or before the year of the reallocated forfeiture. Teachers Hired between January 2, 2006 and March 31, 2016 shall be assigned to VEBA II The VEBA Plan for teachers hired by Elkhart Community Schools between the dates of January 2, 2006 and March 31, 2016 (VEBA II) includes the following terms and conditions: Vesting: A teacher must have served in the Elkhart Community Schools fifteen
Reallocation of Forfeitures. The reallocation of forfeitures under Section 3.05 applies to Plan Years beginning after ________________________________. [Note: The date specified may not be earlier than December 31, 1985.]
Reallocation of Forfeitures. The ETA President shall receive a list of those teachers whose accounts have been terminated pursuant to this Appendix, which shall list the teacher’s name and the total value of the terminated accounts. The ETA President will receive this list on or before September
Reallocation of Forfeitures. Any forfeiture which results from a Participant's termination of Service shall be reallocated as if it were a contribution of the same type (i.e., Employer Profit Sharing Contribution or Employer Matching Contribution) for the Plan Year following the Plan Year in which such forfeiture occurs [ ] or, if this box is checked, such forfeiture shall be applied to reduce the Employer's obligation to make Employer Matching Contributions and Fixed Profit Sharing Contributions for the Plan Year during which the forfeiture occurs.
Reallocation of Forfeitures. If the Employer elects to reallocate forfeitures as additional contributions, the forfeitures will be added to other contributions made by the Employer (as designated under Part 8 of the Agreement) for the Plan Year designated under Part 8, #29 of the Agreement [Part 8, #47 of the 401(k) Agreement], and such amounts will be allocated to Eligible Participants under the allocation method chosen under Part 4 of the Agreement with respect to such contributions. Reallocation of forfeitures is not available under the target benefit plan Agreement.
Reallocation of Forfeitures. After the allocation of net income or loss of the trust, there shall be added to the participant's matching contribution account and/or discretionary Employer contribution account, as applicable, any forfeitures derived from matching contributions and/or discretionary Employer contributions in the manner prescribed by Section 5.3 or Section 23 of the plan.
Reallocation of Forfeitures. The reallocation of forfeitures under Section 3.05 applies to Plan Years beginning after _______. [Note. The date specified may not be earlier than December 31, 1985.] [ ] (f) ACCRUAL REQUIREMENTS. The accrual requirements of Section 3.06 are effective for Plan Years beginning after ___________________. [ ] (g)
Reallocation of Forfeitures. Any forfeiture which results from a Participant's termination of Service SHALL BE REALLOCATED AS IF IT WERE A CONTRIBUTION OF THE SAME TYPE (i.e., Employer Profit Sharing Contribution or Employer Matching Contribution) FOR THE PLAN YEAR FOLLOWING THE PLAN YEAR IN WHICH SUCH FORFEITURE OCCURS / / or, if this box is checked, such forfeiture SHALL BE DEEMED TO BE AN EMPLOYER MATCHING CONTRIBUTION, AND APPLIED TO REDUCE THE AGGREGATE AMOUNT THE EMPLOYER MUST CONTRIBUTE IN EMPLOYER MATCHING CONTRIBUTIONS FOR THE PLAN YEAR DURING WHICH THE FORFEITURE OCCURS.
