Plan Sponsor Contribution Account definition

Plan Sponsor Contribution Account means: (i) the sum of the Participant’s Plan Sponsor Contribution amounts, plus (ii) amounts credited (net of amounts debited, which may result in an aggregate negative number) pursuant to Section 3.3.
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Plan Sponsor Contribution Account shall be defined as provided in Paragraph 3.4 below.
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Plan Sponsor Contribution Account means: (i) the sum of the Participant’s Plan Sponsor Contribution matching and/or discretionary contribution amounts, plus (ii) amounts credited (net of amounts debited, which may result in an aggregate negative number) in accordance with all applicable crediting provisions of this Plan that relate to the Participant’s Plan Sponsor Contribution Account, less (iii) all distributions made to, or withdrawals by, the Participant or his or her Beneficiary that relate to the Participant’s Plan Sponsor Contribution Account, and tax withholding amounts deducted (if any) from the Participant’s Plan Sponsor Contribution Account. At the time of the Participant’s initial deferral election, the Participant shall specify the time and form in which payment shall be made to the Participant or his or her Beneficiaries from this Account. The Participant may be permitted to change the time or form of payment subject to Paragraph 7.7 (Subsequent Changes to Time and Form of Payment) below.
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Examples of Plan Sponsor Contribution Account in a sentence

  • To the extent not described in Section 8.1 or 8.2, a Plan Sponsor Contribution Account belonging to a Participant is fully or partially Vested (to the extent such Account is funded) only after the Participant renders the necessary Vesting Service to vest as specified in Section 8.4. Such Vesting Service must be rendered consecutively as further described in this Section 8.

  • If a Participant terminates employment before becoming 100% Vested, he or she forfeits the non-Vested portion of his or her Plan Sponsor Contribution Account Balance.

  • If a Participant terminates employment before becoming 100% Vested, he or she forfeits the non-vested portion of his or her Plan Sponsor Contribution Account Balance.

  • When a Participant becomes vested in a portion of his or her Plan Sponsor Contribution Account, the Plan Sponsor shall withhold from the Participant’s Compensation that is not deferred, in a manner determined in the sole discretion of the Plan Sponsor, the Participant’s share of FICA and other employment taxes on such vested Plan Sponsor Contribution Account.

  • If the Plan Administrator possesses (or is deemed to possess, as provided in Paragraph 4.3(c) above) at any time Deemed Investment directions of less than 100% of a Participant’s Separation Account, or Plan Sponsor Contribution Account, the Participant shall be deemed to have directed that the undesignated portion of the said Account(s) be deemed to be invested in a money market, fixed income, or similar fund made available under this Plan as determined by the Plan Administrator.