Forfeitures definition

Forfeitures means any amounts forfeited pursuant to Section 4.2.

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Forfeitures means the nonvested portion of a Participant's benefit that is forfeited in accordance with the provisions of Article VIII.

Forfeitures means the amount of wages, penalties, and forfeitures assessed by the Public Agency and proposed to be withheld pursuant to Labor Code section 1771.6(a), and includes the following: (1) the difference between the prevailing wage rates and the amount paid to each worker for each calendar day or portion thereof for which each worker was paid less than the prevailing wage rate by the contractor or subcontractor; and (2) penalties assessed under Labor Code Sections 1775, 1776 and 1813.

Examples of Forfeitures in a sentence

• Forfeitures shall be allocated as of the last day of the Plan Year during which the Forfeiture arose (or any subsequent Plan Year if indicated in the Adoption Agreement).

• Forfeitures will be used to defray the administrative expenses of the program.

• The account balance as of the last valuation date in the valuation calendar year (the calendar year immediately preceding the distribution calendar year) increased by the amount of any Contributions or Forfeitures allocated to the account balance as of dates in the valuation calendar year after the valuation date and decreased by distributions made in the valuation calendar year after the valuation date.

• If this Plan is a money purchase plan or a target benefit plan, unless the Adoption Agreement indicates otherwise, Forfeitures shall be applied towards the reduction of Employer Contributions to the Plan.

• Forfeitures (Do not complete if 100% immediate vesting is elected).

More Definitions of Forfeitures

Forfeitures means nonvested amounts allocated pursuant to Article VII.

Forfeitures means the non-vested portion of the Company Account that the Participant is not entitled to upon termination of employment.

Forfeitures means the portion of a Participant’s Employer Matching Contribution Account that is not vested on the Participant’s Termination Date by reason of the provisions of Article VIII.

Forfeitures means the Unvested Portion of a Member’s Account that becomes forfeited pursuant to section 8.3.

Forfeitures means any Matching University Contributions forfeited by Members upon termination or death prior to retirement. Prior to January 1, 1976, Forfeitures were re-allocated to Members active at the end of the Plan Year in which such terminations or death occurred. The cash value of Forfeitures arising after January 1, 1976 and prior to January 1, 1990 were transferred into the Reserve Account. Forfeitures which arise on or after January 1, 1990 shall be credited to the Forfeiture Account.

Forfeitures means those portions of Accounts which are forfeited as described in sections 5.4 and 11.13.

Forfeitures means amount forfeited under Rule 8.3, Rule 9.2 or otherwise.