Money Purchase Account definition

Money Purchase Account of a Member means the account established in his name pursuant to Section 12.01(b).
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Money Purchase Account means the subaccount established to record any amounts transferred to the Plan from a money purchase pension plan and the earnings thereon.
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Money Purchase Account means the account described in Article 6 (Special Distributions).
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Examples of Money Purchase Account in a sentence

  • A Member who elects to contribute to his Money Purchase Account shall select the level of such contribution which shall be a percentage of his eligible earnings set at a whole or half integer.

  • Following such repayment, the balance of the Money Purchase Account shall be adjusted to reflect this reduction.

  • If the contributions to a Money Purchase Account in respect of a Member for a calendar year exceed the limit set out in Section 14.02, the excess portion shall be repaid to the Member, subject to any required prior approval of a regulatory authority.

  • An Active Member or Disabled Member may elect to contribute to his Money Purchase Account.

  • Upon the retirement of a member, the amount in his or her Money Purchase Account is converted to a monthly pension using annuity factors provided by the Plan’s actuary.

  • A Member who elects a transfer of the Commuted Value of his Defined Benefit Pension or a transfer or payment of the balance of his Money Purchase Account shall take that transfer or payment in full satisfaction of such rights under the Plan and upon completion of such transfer or payment shall have no further entitlement in respect of such benefits under the Plan.

  • Money Purchase Account A separate account shall be maintained for each Member contributing pursuant to Section 14.01 which shall represent the portion of the Pension Fund attributable to the Money Purchase Contributions made by the Member .

  • However, if a Member retires pursuant to Section 4.01, 4.02 or 4.03, and does not elect to transfer his Money Purchase Account out of the Pension Fund pursuant to Section 6.05, or if the Member is entitled to a deferred pension pursuant to Section 7.02 and the Member does not elect to transfer his Money Purchase Account out of the Pension Fund pursuant to Section 7.05, then the following rules shall apply.

  • The Member may elect to receive the balance of his Money Purchase Account in a cash lump sum or to transfer it to an unlocked registered retirement savings plan in lieu of transferring it to one of the locked-in portability vehicles listed above.

  • A Member who elects a transfer of the Commuted Value of his deferred Defined Benefit Pension or a transfer or payment of the balance of his Money Purchase Account shall take that transfer or payment in full satisfaction of such rights under the Plan and upon the completion of such transfer or payment shall have no further entitlement in respect of such benefits under the Plan.


More Definitions of Money Purchase Account

Money Purchase Account means the separate account of each Member under that name to which is credited the Member's account balance, if any, transferred from a Retirement Plan described in subsection (gg) below and the net worth of the Trust Fund attributable thereto.
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Money Purchase Account means the account established to receive contributions in the Member’s name pursuant to Section 5.
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Money Purchase Account means the account established and maintained for a Member in accordance with Section 21(c).
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Money Purchase Account means in respect of Members who retired or left Service after 1 April 1988 and before 1 December 2001, that part of the Fund which is notionally allocated to a Member being equal to the aggregate of 8.5% of the Member’s Pensionable Earnings for each Scheme Year during his or her Active Membership completed on or after 1 April 1988, increased or decreased by such amount as the Trustees in their absolute discretion (on the advice of the Actuary) shall determine from time to time having regard to the overall investment return of the Fund.
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Money Purchase Account means the separate Account, if any, maintained for each Participant to which shall be credited such Participant’s share of contributions made pursuant to the provisions of the Holiday Inns, Inc. Employees’ Retirement Plan and any other plan subject to the provisions of Code Sections 401(a)(11)(B)(ii) and 417 which are transferred directly to the Plan, related investment earnings and loan repayments and from which shall be debited allocable expenses, investment losses, loans, withdrawals and distributions.
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Money Purchase Account means the account established and maintained pursuant to paragraph 6.02(b);
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Related to Money Purchase Account

  • Purchase Account means the account so designated in each Purchase and Remarketing Fund.

  • Note Account As defined in the Indenture.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Investment Account As defined in Section 3.12(a).

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • 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.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Brokerage Account means any account with a broker, dealer or bank that may hold securities.

  • Purchase Price Bank Account means a bank account in the United States to be designated by the Seller in a written notice to the Purchaser at least five Business Days before the Closing.

  • Private Account means the portion of a portfolio of a private client or mutual fund client for which the Adviser serves as investment adviser or subadviser.

  • Transfer Account means the account established hereunder to which amounts transferred to this Plan from a direct plan-to-plan transfer in accordance with Section 4.7 are allocated.

  • 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.

  • Transferred Account means each account into which an Account is transferred, provided that (i) such transfer is made in accordance with the Credit Card Guidelines and (ii) such account can be traced or identified as an account into which an Account has been transferred.

  • Interest Collection Account A sub-account of the Collection Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Principal Funding Account Investment Proceeds shall have the meaning specified in subsection 4.03(a)(ii).

  • Special Payments Account means the Eligible Deposit Account created pursuant to Section 2.2 as a sub-account to the Collection Account.

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • 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.

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

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

  • REO Account The account or accounts maintained by the Master Servicer in respect of an REO Property pursuant to Section 3.23.