Payroll Deduction Account definition
Examples of Payroll Deduction Account in a sentence
Upon termination of the Plan, all amounts in an employee's Payroll Deduction Account that are not used to purchase Common Stock, plus any interest accrued thereon, will be refunded.
The Employer shall implement a Flexible Spending (Payroll Deduction) Account for medical care for all Employees covered by the Fund under this Agreement through IRS Code §§125 and 129.
All regular payroll deductions and voluntary contributions shall be credited to the Payroll Deduction Account that the Bank has established in the name of the Participating Employee.
A Participant may not make any additional payments to the Participant's Payroll Deduction Account, except as expressly provided in the Plan or as authorized by the Committee.
Unless the Participant elects to withdraw from the Plan as provided in Section 9, the funds in the Participant's Payroll Deduction Account will not be refunded to the Participant but instead will be used to purchase Shares for the Participant on the Purchase Date.