ORP II Account definition

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

  • The ORP II Account, and the terms and conditions of this Retirement Program that are applicable to benefits under the ORP II, constitute a tax-deferred annuity plan governed by the provisions of Code Section 403(b) 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.

  • Except as provided under Section 8.6(h) (in the case of correcting an erroneous contribution) or Section 8.6(i) (in the case of a Participant, Beneficiary or Alternate Payee who cannot be located), a Participant shall at all times be 100% vested in Employee contribution amounts credited to a Participant’s ORP II Account, including accumulated earnings thereon (net of accumulated losses and any applicable expenses charged to the Account).

  • All contributions to the ORP II Account are mandatory contributions that are intended to be exempt from the limitation on elective deferrals under Code Section 402(g), because such contributions do not constitute “elective deferrals” pursuant to Code Section 402(g)(3).

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

  • Employer contributions to the ORP for a Participant will terminate at any time the Participant ceases to be an Eligible Employee for the ORP, including transfer or reclassification to a position which is not classified as eligible or the Participant’s failure to make the mandatory contributions to the Participant’s ORP II Account as required by Section 12.6.

  • 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).

  • Except as provided under Section 8.6(h) (in the case of correcting an erroneous contribution) or Section 8.6(i) (in the case of a Participant, Beneficiary or Alternate Payee who cannot be located), a Participant shall at all times be 100% vested inEmployee contribution amounts credited to a Participant’s ORP II Account, including accumulated earnings thereon (net of accumulated losses and any applicable expenses charged to the Account).

Related to ORP II Account

  • 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.

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

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

  • 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.

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

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

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

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

  • 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.

  • 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.

  • 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.

  • 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.

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

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

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

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

  • 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).

  • 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.

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

  • Note Account As defined in the Indenture.

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

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.