Examples of Deferral Election in a sentence
As of each Valuation Date, a Participant’s Deferral Account (and each Deferral Election Sub-Account) shall consist of the balance of such Deferral Account (or Deferral Election Sub-Account) as of the immediately preceding Valuation Date, adjusted to reflect (a) crediting of any additional Deferral Amounts, (b) payments (if any), and (c) increases or decreases in the value of the Investment Funds to which the Deferral Amount has been allocated (as described in Article V below).
If payment of a Deferral Election Sub-Account under this Article VI is in the form of a lump sum, such payment shall consist of cash equal to the value, as of the Valuation Date immediately preceding payment, of that Deferral Election Sub-Account.
A Participant may not revoke his or her Deferral Election at any time after the applicable deadline.
A Participant may be permitted by the Plan Administrator to specify on the Deferral Election Form that all or any whole percentage of his or her Deferral Amount shall be allocated to one or more of the Investment Funds.
Unless otherwise expressly provided in a Deferral Election that is accepted by the Plan Administrator by the applicable deadline, each Deferral Election shall apply only to a single Plan Year and shall specify the Eligible Employee’s (a) Deferral Amount and (b) Payment Election (if any).