Member Deferral Election definition

Member Deferral Election means an election by a Member authorizing the Company to reduce the Member’s Basic Compensation and/or Bonus Compensation in the elected amount as a Member Deferral or Make-Up Deferral and credit the amount of such deferral to the Member’s General Account.
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Examples of Member Deferral Election in a sentence

  • A Member Deferral Election under this subsection will become irrevocable and effective on the last day of the election period established by the Plan Administrator.

  • However, despite decades of effort and billions of dollars spent, this foundation is still out of reach for many residents of small communities in rural Alaska.

  • A Member shall make a Payment Election with respect to each Member Deferral Election made under the Plan.

  • A Member Deferral Election under this subsection will become irrevocable and effective on the day it is filed with the Plan Administrator.

  • A Member shall make a Payment Election in accordance with Section 6.1 with respect to each Member Deferral Election made under the Plan.

  • The Plan Administrator will notify each Eligible Employee of his or her eligibility to become a Member within a reasonable period of time prior to the date by which the Member Deferral Election is due to be filed.

  • If a Member fails to make a Payment Election with respect to a Member Deferral Election and a former Member Deferral Election does not remain in force, amounts credited to the Member’s Accounts that are attributable to Member Deferral Election shall be made in a lump sum cash payment on the date of the Member’s Separation from Service.

  • An Eligible Employee may become a Member by making a Member Deferral Election in accordance with Article IV.

  • If a Member Deferral Election remains in force for a subsequent Plan Year as provided in Section 4.2(d), the Payment Election with respect to that Member Deferral Election also will remain in force.

  • The management considers that adoption of above standards, amendments and interpretations has no material impact on the Bank’s financial statements other than in presentation/ disclosure.

Related to Member Deferral Election

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Deferral Election Form means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate the amount of the Deferrals.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.

  • 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

  • Compensation Deferral means the amount or amounts of the Director's Compensation deferred under the provisions of Section 3 of this Agreement.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Distribution Election With respect to any Series, as specified in the related Supplement.

  • Plan Year means the calendar year.

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

  • Distribution Election Form means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate the time and form of distribution.

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.

  • Payment Election means an election pursuant to Section 5.1.

  • Deferral Agreement means an irrevocable agreement entered into between a Nonemployee Director and the Company to authorize the Company to reduce the amount of the Nonemployee Director’s Annual Retainer and credit the amount of such reduction to the Plan consistent with the requirements of Section 409A of the Code. A Deferral Agreement shall contain such provisions, consistent with the provisions of the Plan, as may be established from time to time by the Company or the Board, including without limitation:

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Investment Election means the Participant’s election to have deferred amounts credited with hypothetical earnings credits (or losses) that track the investment performance of the Investment Options and/or Common Stock in accordance with Article V.

  • Deferral means the amount or amounts of a Participant’s Compensation deferred under the provisions of Section 3.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • 10) Election has the meaning set forth in Section 6.05(a).

  • Election Form means the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to make an election under the Plan.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • LCA Election has the meaning specified in Section 1.09(a).

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Deferral Period has the meaning set forth in Section 3(i) hereof.

  • Deferred member means a person who elected to receive deferred vested retirement