ORP I Account definition

ORP I Account means the separate account that is established for each Participant in the ORP, and which is the individual record-keeping account to which Employer contributions to the ORP I and earnings thereon will be credited (net of expenses chargeable to the ORP I Accounts) by the Fund Sponsors elected by the Participant.
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Examples of ORP I Account in a sentence

  • The ORP I Account, and the terms and conditions of this Retirement Program that are applicable to benefits under the ORP I, constitute a tax-qualified, money-purchase, pension plan that is designed, and which shall be administered, in accordance with the provisions of Code Section 401(a) that apply to “governmental plans” (within the meaning of Code Section 414(d)).

  • Employer contributions to the Participant’s ORP I Account and Employee contributions to the ORP II Account are invested, at the direction of each Participant, in any one or more Funding Vehicles offered under the ORP by the Fund Sponsor(s) selected by the Participant.

  • A Participant in the ORP, as a condition of eligibility to receive Employer contributions to the ORP I Account, must make mandatory Employee contributions to the ORP II Account pursuant to a one-time irrevocable election, as described in Sections 12.3 and 12.4. Such mandatory Employee contributions shall constitute pre-tax deferrals to a Section 403(b) tax-deferred annuity plan.

  • For each active Participant in the ORP who first became a Participant in the ORP pursuant to an Employment or Reemployment Date before July 1, 2005, that resulted from an offer of employment from the University dated on or before June 22, 2005, the ORP I Employer contribution rate for a calendar year shall be 14 percent times Covered Wages to the ORP I Account of such Participant, which shall be referred to as the “Tier 1” Employer plan contribution rate.

  • For each active Participant in the ORP who first became a Participant in the ORP pursuant to an Employment or Reemployment Date on or after July 1, 2005, and before July 1, 2006, that resulted from an offer of employment from the University dated after June 22, 2005, the ORP I Employer contribution rate for a calendar year shall be equal to 12 percent times Covered Wages to the ORP I Account of such Participant, which shall be referred to as “Tier 2” Employer contribution rates.

  • For each Participant in the ORP, there shall be an ORP I Account and an ORP II Account.

  • If contributions or other additions to a Participant’s Pension Plan Account and ORP I Account would otherwise exceed the limitations prescribed under Code Section 415 and the regulations thereunder, contributions and other additions shall be reduced first in the Participant’s Pension Plan Account, then in the Participant’s ORP I Account.

  • A successful engagement with the FFB will yield low-cost capital to be used as an additional resource for expanding much-needed affordable housing opportunity for District residents.

  • For each Participant in the ORP, there shall be an ORP I Account and an ORP II Account (as those terms are defined in Sections 1.25 and 1.26, and as the operation of such Accounts are more fully described in Article 12).

  • For each active Participant in the ORP, the Employer will make contributions to the ORP I Account of such Participant at the Employer plan contribution rate times Covered Wages for each Participant.

Related to ORP I Account

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

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Regular account means the account established for each active and inactive member un-

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

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

  • 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.

  • 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.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

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

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

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

  • 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.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

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

  • Note Account As defined in the Indenture.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).