Employer Account definition

Employer Account means the account established and maintained under this Plan by the Committee to record a Participant’s interest under this Plan attributable to (i) any amounts credited to his or her Employer Account under the Superseded Plan as in effect on December 31, 2001, and (ii) any Matching Contributions made to the Plan for the Participant on or after January 1, 2002.
Employer Account means the account into which shall be credited the Employer contributions made on a Member’s behalf pursuant to Section 3.02 and earnings on those contributions.

Examples of Employer Account in a sentence

  • If you terminate your employment with your Employer and are less than 100% vested in your Employer Account, you may forfeit the non-vested portion of your Employer Account.

  • An election shall not be required if the Employer has elected to make contributions to an Employer Account and/or Qualified Nonelective Contributions with respect to all Eligible Participants.

  • In addition, this Section 6.1.2 shall not apply unless the Participant's Surviving Spouse, if any, is the Beneficiary of (i) the proceeds of any insurance on the Participant's life purchased by Employer contributions or (ii) forfeitures allocated to the Participant's Employer Account or unless the Participant's Surviving Spouse has consented to the Participant's designation of another Beneficiary as referred to in subsection (C) of this Section 6.1.2.

  • Termination of Employment of a Participant whose vested percentage in any Employer Account is less than 100% but greater than 0%.

  • Termination of Employment of a Participant whose vested percentage in each Employer Account is 0%.


More Definitions of Employer Account

Employer Account means, with respect to a Participant's Policy, a bookkeeping entry maintained by the Employer pursuant to Section 6 of the Plan, equal to the lesser of (1) the cash value of the Policy, or (2) the amount of Policy premiums paid by the Employer (and not collected from the Participant). With respect to a Replacement Policy, the amount of Policy premiums paid by the Employer shall be deemed to include the total of all such premiums paid on the Replacement Policy and the Replaced Policy, reduced by an amount equal to that portion of the Replaced Policy Cash Value, if any, paid to the Employer at the time the Replacement Policy is issued.
Employer Account means the account credited with Matching Contributions and earnings on those contributions.
Employer Account means the account maintained for a Member as part of the MP Component to which mandatory Employer contributions to the Statewide Hybrid Plan are credited.
Employer Account means that portion of an Account attributable to Employer contributions and Forfeitures. A Participant’s Employer Account shall include such Participant’s Matching Account, Non-Elective Account and Profit Sharing Account.
Employer Account means the account maintained for each Participant who has received an Employer Contribution, and which will reflect the amount of such Employer Contribution and appropriate adjustments as provided herein.