Common use of Settlement Class Members With Accounts In the Plan Clause in Contracts

Settlement Class Members With Accounts In the Plan. For Class Members with an Active Account (an account with a positive balance) as of September 30, 2022, each Class Member’s Final Entitlement Amount will be allocated into their Plan account (unless that Plan account has been closed in the intervening period, in which case that Class Member will receive their allocation in accordance with II.F, below). As promptly as reasonably possible after deposit of the Net Settlement Amount into the Plan (per Section 5.2.5 of the Settlement Agreement), the Settlement Administrator shall forward to the Recordkeeper the information/data needed for allocating into each Settlement Class Member’s account under the Plan his or her Class Member’s Final Entitlement Amount. The deposited amount shall be invested by the Recordkeeper pursuant to the Settlement Class Member’s investment elections on file for new contributions. If the Class Member has no election on file, it shall be invested in any default investment option(s) designated by the Plan, and if the Plan has not designated any default investment option(s), in a target date fund commensurate with the Class Member’s retirement age or similar fund under the Plan.

Appears in 1 contract

Samples: Action Settlement Agreement

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Settlement Class Members With Accounts In the Plan. For Class Members with an Active Account (an account with a positive balance) as of September 30March 31, 2022, each Class Member’s Final Entitlement Amount will be allocated into their Plan account (unless that Plan account has been closed in the intervening period, in which case that Class Member will receive their allocation in accordance with II.F, below). As promptly as reasonably possible after deposit of the Net Settlement Amount into the Plan (per Section 5.2.5 of the Settlement Agreement), the Settlement Administrator shall forward to the Recordkeeper the information/data needed for allocating into each Settlement Class Member’s account under the Plan his or her Class Member’s Final Entitlement Amount. The deposited amount shall be invested by the Recordkeeper pursuant to the Settlement Class Member’s investment elections on file for new contributions. If the Class Member has no election on file, it shall be invested in any default investment option(s) designated by the Plan, and if the Plan has not designated any default investment option(s), in a target date fund commensurate with the Class Member’s retirement age or similar fund under the Plan.

Appears in 1 contract

Samples: Class Action Settlement Agreement

Settlement Class Members With Accounts In the Plan. For Class Members with an Active Account (an account with a positive balance) as of September 30, 20222020, each Class Member’s Final Entitlement Amount will be allocated into their Plan account (unless that Plan account has been closed in the intervening period, in which case that Class Member will receive their allocation in accordance with II.F, below)account. As promptly as reasonably possible after deposit of the Net Settlement Amount into the Plan (per Section 5.2.5 of the Settlement Agreement), the Settlement Administrator shall forward to the Recordkeeper the information/data needed for allocating into each Settlement Class Member’s account under the Plan his or her Class Member’s Final Entitlement Amount. The deposited amount shall be invested by the Recordkeeper pursuant to the Settlement Class Member’s investment elections on file for new contributions. If the Class Member has no election on file, it shall be invested in any default investment option(s) designated by the Plan, and if the Plan has not designated any default investment option(s), in a target date fund commensurate with the Class Member’s retirement age or similar fund under the Plan.

Appears in 1 contract

Samples: Class Action Settlement Agreement

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Settlement Class Members With Accounts In the Plan. For Class Members with an Active Account (an account with a positive balance) as of September June 30, 20222020, each Class Member’s Final Entitlement Amount will be allocated into their Plan account (unless that Plan account has been closed in the intervening period, in which case that Class Member will receive their allocation in accordance with II.F, below)account. As promptly as reasonably possible after deposit of the Net Settlement Amount into the Plan (per Section 5.2.5 of the Settlement Agreement), the Settlement Administrator shall forward to the Recordkeeper the information/data needed for allocating into each Settlement Class Member’s account under the Plan his or her Class Member’s Final Entitlement Amount. The deposited amount shall be invested by the Recordkeeper pursuant to the Settlement Class Member’s investment elections on file for new contributions. If the Class Member has no election on file, it shall be invested in any default investment option(s) designated by the Plan, and if the Plan has not designated any default investment option(s), in a target date fund commensurate with the Class Member’s retirement age or similar fund under the Plan.

Appears in 1 contract

Samples: Class Action Settlement Agreement

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