ADP Safe Harbor Contribution Account definition

ADP Safe Harbor Contribution Account means the separate account established and maintained by the Administrator for each Participant with respect to the Participant's total interest in the Plan resulting from ADP Safe Harbor Contributions. Amounts in the ADP Safe Harbor Contribution Account are subject to the distribution restrictions of Section 4.2(d), except however, distributions from the ADP Safe Harbor Contribution Account are not permitted on account of financial hardship.
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Examples of ADP Safe Harbor Contribution Account in a sentence

  • With regard to a Participant who Terminates Employment because of retirement on or after Normal Retirement Age, death or Disability, his or her ADP Safe Harbor Contribution Account will be distributed within an administratively reasonable time after such Termination of Employment.

  • Notwithstanding anything in this Section to the contrary, in-service distributions from a Participant's Elective Deferral Account, ADP Safe Harbor Contribution Account, Qualified Nonelective Contribution Account, or Qualified Matching Contribution Account shall not be permitted prior to the Participant attaining age 59 1/2 or one of the other events described in Section 4.2(d).

  • Within the terms of the agreed policy and in consultation with the Executive Directors, as appropriate, determine the total individual remuneration package of each of the senior executives who report to the Executive Directors, including bonuses, incentive payments and share options, other share awards or other benefits.

  • You can request a distribution from your ADP Safe Harbor Contribution Account if you have reached age 59½.

  • Those blanked-off sections of abandoned pipe are evaluated with the containment isolation components system discussed in Section 2.3.2.5.) The heating steam system contains pressurized, high-temperature fluid and has pipe routing and equipment locations in close proximity to safety-related equipment.

  • The Employer will make a Safe Harbor Nonelective Contribution to the ADP Safe Harbor Contribution Account of each Eligible Employee in an amount equal to: ___% (must be at least 3%) of the Employee's Compensation.

  • With regard to a Participant who Terminates Employment for any other reason, his or her ADP Safe Harbor Contribution Account will be distributed within an administratively reasonable time after the Participant requests payment.1.5 Pre-Retirement Distributions.

  • In-­‐Service DistributionsAs long as you remain employed by us, you can elect at any time to take a lump sum distribution of up to 100% of the following accounts, provided you satisfy the applicable requirements: ● ADP Safe Harbor Contribution Account.

  • A Participant who is still an Employee who has reached Age 59 1/2 can take a distribution of up to 100% of his or her ADP Safe Harbor Contribution Account.

  • A Participant’s Vested Interest in his or her ADP Safe Harbor Contribution Account will be 100% at all times.

Related to ADP Safe Harbor Contribution Account

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Nonelective Contribution means an amount contributed by a participating

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Qualified Nonelective Contributions means contributions of the Plan Sponsor or an Affiliate, other than Matching Contributions or Elective Deferrals, which are nonforfeitable when made, and which would be nonforfeitable regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Code Section 401(k)(2)(B) and the regulations thereunder.

  • Matching Contributions means contributions made by the Employer on account of an "eligible Participant's" Elective Deferrals.

  • Matching Contribution means an Employer contribution made to this or any other Defined Contribution Plan on behalf of a Participant on account of an Employee Contribution made by such Participant, or on account of a Participant's Employee Elective Deferral, under a plan maintained by the Employer.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.

  • Qualified Nonelective Contribution (QNEC) means the Employer's contributions to the Plan that are made pursuant to Sections 12.1(a)(4), 12.5 and 12.7 or pursuant to any other Plan provision which provides for such contributions.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Elective Contribution means the Employer's contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess "annual additions" pursuant to Section 4.10(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.6 shall be considered an Elective Contribution for purposes of the Plan. Any such contributions deemed to be Elective Contributions shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the discrimination requirements of Regulation 1.401(k)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.

  • Safe Harbor has the meaning set forth in Section 10.2(d).

  • Employer Contributions means all amounts paid into ASRS by an

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.