Contribution accounts definition

Contribution accounts means accounts holding employee contributions other than those to the annuity savings account.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Contribution accounts means accounts holding employee contributions other than those to the annuitysavings account.

Contribution accounts. , of credit unions, means the parts of the Contingency Fund that, under section 98(10) of the Financial Institutions Code, are treated as a deferred asset in the accounts of the credit unions;

Examples of Contribution accounts in a sentence

• Forfeitures of Excess Aggregate Contributions resulting from failure of the ADP Test and the inability to distribute corresponding Matching Contributions will be allocated to the Matching Contribution accounts of Non-Highly Compensated Employees instead of being used to reduce Employer Contributions for the Plan Year in which the failure occurred.

• Non-elective Contributions shall be allocated to the Non-elective Contribution accounts of each eligible Participant.

• If the Participant or Beneficiary is selected to direct investment of his Employer and/or Matching and/or Elective Deferral and/or Participant and/or Rollover and/or Transfer and/or QVEC Accounts and/or Qualified Matching Contribution and/or Qualified Nonelective Contribution accounts and/or other accounts under the Adoption Agreement, the Participant or Beneficiary shall be accorded all rights and powers described in Section 6.3(A) above with respect to such accounts.

• A Participant become 100% vested in his/her Employer and Matching Contribution accounts upon satisfying the early retirement requirement(s).

• In addition, if permitted by the Adoption Agreement, the Participant may request a withdrawal of the amount in his 401(k) and Salary Savings Contribution accounts for any reason, at any time after he attains age 59 1/2.

More Definitions of Contribution accounts

Contribution accounts means accounts holding employee contributions other than those to the

Contribution accounts. The meaning specified in Section 10.3(e).

Contribution accounts means, in relation to a Member, any one or more (as the context requires) of the Member's Compulsory Employer Contribution Account (if any), the Member's Compulsory Member Contribution Account (if any) and the Member's Voluntary Contribution Account (if any) kept in relation to the Member pursuant to clause 7.1.

Contribution accounts. , of credit unions, means the parts of

Contribution accounts means Elected Official Contribution Account and Employer Contribution Account.

Contribution accounts means the Employee Contribution Account, the Additional Voluntary Contribution Account and the Employer Contribution Account.

Contribution accounts has the meaning given to it in the Intercreditor Agreement;