Deferred Income Account definition

Deferred Income Account means the account maintained by the Committee for each Participant on whose behalf an Elective Contribution is made.
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Deferred Income Account means the Account of a Participant to which his Deferred Salary Contributions made pursuant to Article 3, and the gains and losses thereon, are credited or debited respectively.
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Deferred Income Account means the bookkeeping account established by the Administrator for each Participant to which the Participant's Deferred Income plus interest or any other earnings of an insurance policy or policies maintained by the Company is credited and from which distributions to the Participant or to his or her Beneficiary are made.
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Examples of Deferred Income Account in a sentence

  • Each payment from a Participant’s Deferred Income Account shall be made in cash, and shall be charged against the balance in such Deferred Income Account.

  • In the event of a Change in Control of the Company, the entire unpaid balance of each Deferred Income Account shall be paid in a single lump sum to the Participant as of the effective date thereof.

  • A separate Deferred Income Account shall be maintained for each Participant for each Class Year.

  • Such contribution shall be allocated to the Deferred Income Account of each Participant who is Non-Highly Compensated Employee in the same proportion that each such Participant’s Compensation for the Plan Year bears to the total Compensation of all such Participants for such Plan Year.

  • The Company may establish an irrevocable grantor trust for purposes of holding and investing the Deferred Income Account balances but such establishment shall not create any rights in or against any amount so held, except that the trustee of such trust may vote any Shares thereunder in accordance with the direction of the Participants.

  • If a Participant elects two (2) or more installment payments, the amount of an installment payment shall be a fraction of the value of the Participant’s Deferred Income Account on the Valuation Date preceding such installment payment date, the numerator of which is one (1) and the denominator which is the total number of installments elected minus the number of installments previously paid.

  • Re-valuation surplus of Rs 10,622,670/- had been transferred (credited) to Deferred Income Account.

  • Upon the death of a Participant after the Distribution Date for any Deferred Income Account, the remaining balance (if any) of such Deferred Income Account shall be paid to the Participant’s Beneficiary in accordance with the method of payment chosen by the Participant.

  • Debtors’ Motion to File Under Seal, filed on September 13, 2021 [ Docket No. 547].

  • If a Participant is still employed by the Employer at the Distribution Date for any Deferred Income Account, the entire balance of such Deferred Income Account at the Distribution Date (plus any interest credited to such Account thereafter) shall be paid to the Participant commencing on such date and in accordance with the method of payment chosen by the Participant.

Related to Deferred Income Account

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

  • 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.

  • 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.