ERISA Account definition

ERISA Account means an individual retirement account. a pension, profit-sharing, stock bonus or other employee benefit plan qualified under Section 401(a) of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), or otherwise subject to Title I of the U.S. Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and entities such as group trusts which are treated as holding the assets of such an account or plan. When considering an investment of the assets of an ERISA Account in the Fund, a fiduciary with respect to such plan should consider among other things (a) the definition of “plan assets” under ERISA and the final regulations issued by the Department of Labor regarding the definition of plan assets, (b) whether the investment satisfies the diversification requirements of Section 404(a)(1)(C) of ERISA, (c) whether the investment satisfies the prudence requirements of Section 404(a)(1)(B) of ERISA, (d) whether income derived from the Fund could constitute “unrelated business taxable income” subject to federal income taxation to the ERISA Account, (e) the need to value the assets of the plan at least annually, (f) whether the investment is in accordance with the documents and instruments governing the plan and (g) that there will likely be no secondary public market in which to sell or otherwise dispose of the Shares. Purchases and ownership of the Fund’s Shares by or on behalf of ERISA Accounts will be monitored and restricted so that less than 25.0% of the Shares (disregarding any Shares held by the Investment Manager or any of its affiliates or other persons who have discretion over the plan assets or provide investment advice for a fee with respect to the plan (and their affiliates)) will be purchased or owned by ERISA Accounts and certain other pension or employee benefit plans, such as certain foreign, governmental or church plans (collectively, “benefit plan investors”). The Fund recommends that any purchase of Shares by an ERISA Account be considered accordingly by the plan’s fiduciary and its financial and legal advisors. The Fund intends to limit benefit plan investor participation in the Fund and has the right to require at any time such benefit plan investors to withdraw in full or in part from the Fund at any time. See “PURCHASES BY EMPLOYEE BENEFIT PLANS.”
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ERISA Account means the separate account established under the Plan to record the credits or payments made to this Plan attributable to revenue sharing or fee capture arrangements between the Plan’s third party administrator or Recordkeeper and the Plan and/or the Employer.
Sample 1
ERISA Account means any investment account other than a Fund in which a plan subject to ERISA or a Similar Law invests.
Sample 1

Examples of ERISA Account in a sentence

  • Prior to engaging in any cross trade for an ERISA Account, Silchester must receive authorization from the Independent Fiduciary of such ERISA Account to engage in cross trades involving the ERISA Account at Silchester’s discretion, which authorization must be provided in a written document in advance of any such cross trades, and must be separate from any other written agreement or disclosure between Silchester and the ERISA Account or Plan, as applicable.

  • No cross trades will be conducted between an ERISA Account and any Account in which Silchester and/or its Affiliates (together or separately) own 10% or more of the outstanding units in such Account in the aggregate.

  • Silchester will not include an ERISA Account in a cross trade during any period in which the weightings of 14 or more securities in the ERISA Account individually differ by more than 50 basis points from the weightings of the same securities in the other Accounts; and none of the circumstances under which different weightings across the funds may arise or increase will be the result of any discretionary or opportunistic actions by Silchester.

  • In any event, neither Silchester nor the trustee of any ERISA Account will receive a commission, fee, or other remuneration directly or indirectly from an ERISA Account in connection with a cross trade involving an ERISA Account (provided that the trustee of an Account may be expected to receive remuneration on foreign exchange transactions in the ordinary course that would be received irrespective of whether the trade was a cross trade or if the securities were sold in the market).

  • Each cross trade is a purchase or sale of securities by an ERISA Account for no consideration other than cash payment against prompt delivery of a security for which market quotations are readily available.

  • No brokerage commission, fees or other remuneration is paid in connection with a cross trade involving an ERISA Account.

  • An ERISA Account will have priority over another ERISA Account to the extent that is further from its target duration from the other ERISA Accounts.

  • Each ERISA Account will be evaluated based upon the actual duration of the account in comparison to the [target] duration selected by the plan’s fiduciary.

  • If the Account is an ERISA Account and Client is electing discretionary services, Client additionally represents and warrants (i) that the governing instruments provide that an “investment manager” as defined under ERISA may be appointed, and (ii) that the person executing and delivering this Agreement on behalf of Client is a “named fiduciary” (as defined under ERISA) who has the power under the plan to appoint an investment manager.

  • Each underlying investor in a commingled fund ERISA Account and each ERISA Account that is a Separately Managed Account shall represent in writing (which representation is deemed to be repeated upon each subsequent investment in such ERISA Account) that it is a ‘‘qualified purchaser,’’ as that term is defined in section 2(a)(51)(A) of the Investment Company Act of 1940, as amended.


More Definitions of ERISA Account

ERISA Account means an account identified as such on Custodian's books and records for the purpose of holding Plan Assets on behalf of Customer.
Sample 1

Related to ERISA Account

  • ERISA Affiliate Plan means each Employee Benefit Plan sponsored or maintained or required to be sponsored or maintained at any time by any ERISA Affiliate, or to which such ERISA Affiliate makes or has made, or has or has had an obligation to make, contributions at any time, or with respect to which such ERISA Affiliate has any liability or obligation.

  • Multiemployer Pension Plan means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which the Company or any other member of the Controlled Group may have any liability.

  • ERISA Affiliate means any trade or business (whether or not incorporated) that, together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code.

  • Company ERISA Affiliate means all employers (whether or not incorporated) that would be treated together with the Company or any of its Subsidiaries as a “single employer” within the meaning of Section 414 of the Code.

  • Controlled Disbursement Account means any account of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • ERISA Plan means any employee pension benefit plan subject to Title IV of ERISA maintained by any ERISA Affiliate with respect to which any Restricted Person has a fixed or contingent liability.

  • ERISA Affiliates means, with respect to any entity, trade or business, any other entity, trade or business that is a member of a group described in Section 414(b), (c), (m) or (o) of the Code or Section 4001(b)(1) of ERISA that includes the first entity, trade or business, or that is a member of the same “controlled group” as the first entity, trade or business pursuant to Section 4001(a)(14) of ERISA.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Parent ERISA Affiliate means any entity that is considered a single employer with Parent under Section 414 of the Code.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Multiemployer Plan means a multiemployer plan as defined in Section 4001(a)(3) of ERISA.

  • ERISA Plans has the meaning set forth in Section 3.1(n)(1).

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Controlled Group means all members of a controlled group of corporations and all trades or businesses (whether or not incorporated) under common control which, together with any Borrower, are treated as a single employer under Section 414 of the Code.

  • Reportable Account The term “Reportable Account” means an account held by one or more Reportable Persons or by a Passive NFE with one or more Controlling Persons that is a Reportable Person.

  • ERISA means the Employee Retirement Income Security Act of 1974, as amended.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Multiemployer Plans means “multiemployer plans” as defined by Section 3(37) of ERISA.

  • state pension credit means state pension credit under the State Pension Credit Act 2002;

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • ERISA Funding Rules the rules regarding minimum required contributions (including any installment payment thereof) to Pension Plans, as set forth in Section 412 of the Code and Section 302 of ERISA, with respect to Plan years ending prior to the effective date of the Pension Protection Act of 2006, and thereafter, as set forth in Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Controlled Deposit Account means a Deposit Account (i) that is subject to a Deposit Account Control Agreement or (ii) as to which the Collateral Agent is the Depositary Bank’s “customer” (as defined in UCC Section 4-104).

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.