Excess Benefit Account definition

Excess Benefit Account means a bookkeeping record maintained by the Company for each Participant who is or was an employee of such entity, which account shall consist of the accumulated annual allocations made under Section 5 of the Plan on behalf of such Participant, as adjusted for earnings credited in respect of such allocations pursuant to Section 7 of the Plan.
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Excess Benefit Account means the bookkeeping record established for each Participant who is entitled to receive an Excess Benefit. An Excess Benefit Account shall be established only for purposes of measuring an Excess Benefit and not to segregate or to identify assets that may be used to satisfy an Excess Benefit. An Excess Benefit Account also shall be credited periodically with interest under Plan Article VI.
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Excess Benefit Account means a bookkeeping record maintained by the Company for each Participant who is or was an employee of such entity, which account shall consist of (i) the accumulated annual allocations made under Section 5 of the Plan on behalf of such Participant, as adjusted for earnings credited in respect of such allocations pursuant to Section 7 of the Plan and (ii) any amounts credited to the Participant’s Excess Benefit Account (as defined in the Original Plan) under the Original Plan that were not vested as of January 1, 2005 and earnings thereon.
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Examples of Excess Benefit Account in a sentence

  • The Excess Benefit Account shall be a bookkeeping device only, and all amounts credited to a Participant's Excess Benefit Account shall be paid from the general assets of the Employer.

  • The obligation to pay the vested balance of each Participant's Excess Benefit Account hereunder shall at all times be an unfunded and unsecured obligation of the Employer.

  • In the event the Participant makes no such election, his Excess Benefit Account shall be distributed in the form of a lump sum.

  • Although the investment return on a Participant's Excess Benefit Account is to be measured by the actual gains, earnings, and losses realized by one or more of the Funds selected by the Participant pursuant to this Section 3, the Employer shall not be under any obligation to make the selected investments, and the investment experience shall only be tracked as debits or credits to the Participant's book accounts over the deferral period.

  • Distribution of the Participant's Excess Benefit Account shall commence on the later of: (i) the first day of the first month following 180 days from the Participant's date of Severance from Employment, or (ii) the date the Participant otherwise elects.

  • The amount to be distributed to the Participant under this Section 4.1 shall be determined based on the value of the Participant's Excess Benefit Account as determined on the last day of the month in which the Participant has a Severance from Employment with the Employer.

  • The amount to be distributed to the Participant shall be determined based on the value of the Participant's Excess Benefit Account as determined on the last day of the month prior to the effective date of such termination.

  • The amount to be distributed to the Participant's designated beneficiary shall be determined based on the value of the Participant's Excess Benefit Account as determined on the last day of the month in which the Participant died.

  • The return shall be credited by the Administrator to the Participant's Excess Benefit Account at the times established by the Administrator, but no less than quarterly.

  • The species has been recorded from sandy soils, typically in low- lying poorly-drained areas or areas bordering swamps or drains (State Herbarium of South Australia 2005).


More Definitions of Excess Benefit Account

Excess Benefit Account means the book reserve established for each Participant to which shall be credited his benefit, if any, under Article III of the Plan.
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Related to Excess Benefit Account

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

  • 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.

  • 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.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • 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.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • 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.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

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

  • Retirement fund means the "Washington law enforcement

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.

  • 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.

  • Matching Contribution means an Employer contribution made to this or any other Defined Contribution Plan on behalf of a Participant on account of an Employee Contribution made by such Participant, or on account of a Participant's Employee Elective Deferral, under a plan maintained by the Employer.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Plan Account means the account established for each Participant pursuant to Section 8(a).

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Parent Benefit Plan means any Employee Benefit Plan maintained by, sponsored by or contributed to by, or obligated to be contributed to by any Parent Group Entity.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.