Alternate Benefit Accrual Account definition

Alternate Benefit Accrual Account means the combination of bookkeeping accounts maintained for each Participant and composed of (1) his Participant Contributions Account and (2) his Employer Matching Account.
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Examples of Alternate Benefit Accrual Account in a sentence

  • There shall be maintained for each Participant an Alternate Benefit Accrual Account composed of (1) his Participant Contributions Account and(2) his Employer Matching Account.

  • If the Participant’s Named Beneficiary was not his surviving Spouse, his Alternate Benefit Accrual Account, to the extent vested and non-forfeitable, shall be paid to his Named Beneficiary in a lump sum within 90 days of the date of the Participant’s death.

  • Unless the Participant shall have elected to receive an Optional Pension or unless the Participant’s Retirement Pension was calculated as the Life Annuity Equivalent of his Alternate Benefit Accrual Account, his surviving Spouse (if any) shall be entitled to receive a Survivor Pension in the amount of 75% of the Participant’s Retirement Pension (or the Retirement Pension the Participant was then entitled to immediate receipt of).

  • Benefit The greater of: 1) 2.35% of final average earnings multiplied by credited service (up to 35 years) or, 2) The life annuity equivalent of the participant’s Alternate Benefit Accrual Account.

  • The total of these two contribution amounts will comprise the participant’s Alternate Benefit Accrual Account.

  • If theParticipant’s Pension was calculated as the Life Annuity Equivalent of his Alternate Benefit Accrual Account, all survivor benefits shall be determined in accordance with the terms of such Pension, including any Optional Pension elected in lieu thereof.

  • If the Participant’s Pension was calculated as the Life Annuity Equivalent of his Alternate Benefit Accrual Account, all survivor benefits shall be determined in accordance with the terms of such Pension, including any Optional Pension elected in lieu thereof.

  • Benefit The greater of: 1) Final average earnings multiplied by credited service (up to 35 years) and a percentage from Table ERP, which is included as part of the plan, or 2) The life annuity equivalent of the participant’s Alternate Benefit Accrual Account.

  • Alternate Benefit Accrual Account Participants contribute 6% of earnings prior to 2011, 6.5% of earnings in 2011, 7.0% of earnings in 2012, 7.5% of earnings in 2013 and 8.0% of earnings in 2014 and thereafter to fund the Plan.

  • If the Participant’s Retirement Pension is calculated as the Life Annuity Equivalent of his Alternate Benefit Accrual Account, then a pension payable to the Participant for his life only, in the amount of such Life Annuity Equivalent.

Related to Alternate Benefit Accrual 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.

  • 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

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • 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.

  • 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.

  • 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.

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.

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

  • 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.

  • 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.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

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

  • 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.

  • 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.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • 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).

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Employer Contributions means all amounts paid into ASRS by an

  • 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.

  • Class PO Deferred Amount As to any Distribution Date, the aggregate of the applicable PO Percentage of each Realized Loss, other than any Excess Loss, to be allocated to the Class PO Certificates on such Distribution Date on or prior to the Senior Credit Support Depletion Date or previously allocated to the Class PO Certificates and not yet paid to the Holders of the Class PO Certificates.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • 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.