Nonforfeitable definition

Nonforfeitable means a Participant's or Beneficiary's unconditional claim, legally enforceable against the Plan, to the Participant's Accrued Benefit.

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Nonforfeitable means a Participant's or Beneficiary's unconditional claim, legally enforceable against the Plan, to the Participant's Account Balance.

Nonforfeitable means an unconditional right to an Account balance or portion thereof determined as of the applicable date of determination under this Plan.

Examples of Nonforfeitable in a sentence

• A Participant's Accrued Benefit derived from Employer contributions is 100% Nonforfeitable upon and after his attaining Normal Retirement Age (if employed by the Employer on or after that date).

• The Advisory Committee will increase the Participant's Nonforfeitable Accrued Benefit, as determined on the relevant valuation date, for contributions or forfeitures allocated after the valuation date and by December 31 of the valuation calendar year, and will decrease the valuation by distributions made after the valuation date and by December 31 of the valuation calendar year.

• The Advisory Committee will direct the Trustee, in accordance with this Section 6.01(C), to distribute to the Participant's Beneficiary the Participant's Nonforfeitable Accrued Benefit remaining in the Trust at the time of the Participant's death.

• If the present value of the deceased Participant's Nonforfeitable Accrued Benefit exceeds $3,500, the Participant's Beneficiary may elect to have the Trustee distribute the Participant's Nonforfeitable Accrued Benefit in a form and within a period permitted under Section 6.02.

• If, as of the annuity starting date, the Participant is not married, a qualified joint and survivor annuity is an immediate life annuity for the Participant which is purchasable with the Participant's Nonforfeitable Accrued Benefit.

More Definitions of Nonforfeitable

Nonforfeitable means a Participant's or Beneficiary's unconditional claim, legally enforceable against the Plan and Trust, to that portion of a Participant's Account balance that has become vested in accordance with Article 8.

Nonforfeitable means, with respect to a Participant's claim for benefits under the Plan, that the claim is unconditional, legally enforceable, and not subject to divestment except in accordance with the Plan's specific provisions, including, but without limitation because of enumeration, the provisions of Section 15.3 (Sufficiency of Pension Fund).

Nonforfeitable means a Member’s or Beneficiary’s unconditional claim, legally enforceable against the Plan, to the Member’s Account.

Nonforfeitable means a Participant’s or widow’s or widower’s unconditional claim, legally enforceable against the Plan, to the Participant’s Accrued Benefit.

Nonforfeitable means a Participant's or -------------- Beneficiary's unconditional claim, legally enforceable against the Plan, for the Participant's Accrued Benefit.

Nonforfeitable means a Participant's or Beneficiary's unconditional claim, legally enforceable against the Plan, to the Participant's Account.

Nonforfeitable means a Participant’s or Beneficiary’s unconditional claim, legally enforceable against the Plan and Trust, to that portion of a Participant’s Account balance that has become vested in accordance with Article 8.