Formula Based Account definition

Formula Based Account which means a Participant’s interest in the Plan’s assets composed of Formula Based Contributions allocated on or after January 1, 2001 to the Participant under the Plan, the amount allocated under the Plan, as of January 1, 2001, if any (as identified by the Administrator), and an amount allocated from the ▇▇▇ Gen Ltd. Profit Sharing Plan, if any, which continues to be accounted for under the Plan (as identified by the Administrator), plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account.
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Formula Based Account which means a Participant's interest in --------------------- the Plan's assets composed of Formula Based Contributions allocated on or after January 1, 1998 to the Participant under the Plan and an amount transferred from the Participant's "Formula Based Account" in the Whitman Plan on January 1, 1998, if any (as identified by the Administrator), plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account.
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Formula Based Account which means a Participant's interest in the Plan's assets composed of Formula Based Contributions allocated on or after January 1, 1998 to the Participant under the Plan, the amount allocated under the Plan, as of January 1, 1998, if any (as identified by the Administrator), and an amount allocated from the Lou Gen Ltd. Profit Sharing Plan as of January 1, 1998, if any, which continues to be accounted for under the Plan (as identified by the Administrator), plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account.
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Examples of Formula Based Account in a sentence

  • A loan to a Participant shall be made solely from the assets of his or her following Accounts which are fully vested: Pre-Tax Account Catch-up Account Special Account Matching Account Formula Based Account Rollover Account Post-Tax Account.

  • When requesting a withdrawal, any withdrawal amount shall come only from his or her Accounts, to the extent vested, in the following priority order of Accounts: Post-Tax Account Rollover Account Formula Based Account Matching Account Catch-up Account Pre-Tax Account Special Account.

  • Participants will vest in their Matching and Formula Based Accounts (as applicable) 20% per year of Vesting Service; provided, however, that portion of the Formula Based Account which is attributable to assets merged into this Plan from the ▇▇▇ Gen Ltd.

  • Subject to the legal limit described in (c) below, the maximum a Participant may borrow, including the outstanding balance of existing Plan loans, is fifty percent (50%) of his or her following Accounts which are fully vested: Pre-Tax Account Catch-up Account Special Account Matching Account Formula Based Account Rollover Account Post-Tax Account.

  • The remaining withdrawal amount shall come only from his or her Accounts, to the extent vested, in the following priority order of Accounts: Post-Tax Account Rollover Account Formula Based Account Matching Account Catch-up Account Pre-Tax Account Special Account The amount that may be withdrawn from a Participant’s Pre-Tax Account shall not include earnings and Special Contributions posted to his or her Pre-Tax Account after the end of the Plan Year which ends before July 1, 1989.