Employer Account definition

Employer Account. The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

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.

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interest under this Plan attributable to (i) any amounts credited to his or her Employer Account under the Superseded Plan as in effect on December 31, 2001, and (ii) any Matching Contributions made to the Plan for the Participant on or after January 1, 2002.

Examples of Employer Account in a sentence

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%.
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.
A Participant may apply for a distribution from his or her Employee Account or Employer Account.
Upon the Partially Vested Separation of a Participant, the nonvested portion of each Employer Account of such Participant will be forfeited as of the date of termination of Employment; provided, however, that such Participant receives a distribution in accordance with Section 5.6. If a Participant does not receive a distribution following his or her termination of Employment, the nonvested portion of each Employer Account of the Participant shall be forfeited following a Period of Severance of five years.

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 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 the account credited with Matching Contributions and earnings on those contributions.

Employer Account means the subaccount established as part of a Participant's Account to record the Participant's share of the Employer Contributions and Forfeitures and the Fund Earnings attributable to such amounts.

Employer Account. An Account established and maintained for a Participant for accounting purposes to which his share of Employer contributions and forfeitures are added.

Employer Account means the Employer Matching Account and the Employer Discretionary Account of each Participant.

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.