Post-2004 Accruals definition

Post-2004 Accruals means benefits that accrued or will accrue (within the meaning of Section 409A of the Code) under the Plan on or after January 1, 2005
Sample 1
Post-2004 Accruals means the portion of the Executive's benefit under each Plan which is not Pre-2005 Accruals.
Sample 1
Post-2004 Accruals means the portion of the benefit to which the Participant is entitled under the Plan on Separation from Service that exceeds the Participant’s Grandfathered Benefit, if any.
Sample 1

Examples of Post-2004 Accruals in a sentence

  • If the Company terminates the Qualified Plan with respect to participants therein, Pre-2005 Accruals will be payable to affected Employees in accordance with all of the terms and conditions applicable to such Employees’ benefits under the Qualified Plan in the event of its termination; with respect to Post-2004 Accruals, benefits shall be payable in a lump sum at the earliest time permitted and as otherwise provided by Treas.

  • Absent an election by the Participant in accordance with (i), (ii) or (iii) above, all Post-2004 Accruals shall be paid in one lump sum as soon as administratively feasible following the Participant’s Benefit Distribution Date.

  • Anything in the Plan to the contrary notwithstanding, with respect to Post-2004 Accruals, the Plan shall be interpreted and operated in compliance with the requirements, if any, of Section 409A (or any successor thereto) as in effect from time to time, including but not limited to applicable regulations of the U.S. Department of the Treasury or Internal Revenue Service including but not limited to Treas.

  • If a Participant has begun to receive installments of his or her Post-2004 Accruals but dies before receiving the last installment, such Beneficiary, spouse, or estate shall be paid the present value of the remaining, unpaid payments as soon as administratively feasible following such death using the lump-sum interest rate under the Qualified Retirement Plan that was used pursuant to Section 4.3(a).

  • Notwithstanding the provisions of Section 6(b), if a Participant is a Specified Employee at the time of his Separation from Service for reasons other than death and is to receive payment of his Post-2004 Accruals under this Section 6 before the date that is six months after the date of such Separation from Service, no payment of the Participant’s Post-2004 Accruals shall be made to or in respect of the Participant until the end of such six-month period (or until the Participant’s death, if earlier).

  • After December 31, 2008, a Participant may elect to defer receipt of the Post-2004 Accruals by making an election (a “Deferral Election”) not less than 12 months before the Post-2004 Start Date.

  • Subject to Section 6(c) relating to payments to Specified Employees, payment of a Participant’s Post-2004 Accruals shall be made, on an actuarial equivalent basis, in a lump sum as of the first day of the month on or next following the Participant’s Separation from Service, or as soon as practicable hereafter but subject to Section 20.

  • Notwithstanding the foregoing, no Post-2004 Accruals may be so distributed upon termination of the Plan in whole or in part except to the extent such acceleration of the time and form of payment is permitted under Section 409A of the Code and the regulations and guidance issued thereunder and, if not so permitted, such amounts shall only be paid as provided in Section 6.

  • Notwithstanding the foregoing, where a Participant dies and has not begun to receive Post-2004 Accruals, they shall be paid in a lump sum to the (1) Beneficiary, (2) current spouse (within the meaning of the Qualified Plan) if no Beneficiary has been designated or (3) estate, if there is no such spouse and no Beneficiary has been designated, of the Participant as soon as administratively feasible after such death using the assumptions applicable under the Qualified Plan.

Related to Post-2004 Accruals

  • 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.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

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

  • 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.

  • Grandfathered Amounts means, if applicable, the amounts that were deferred under the Plan and were earned and vested within the meaning of Section 409A of the Code and regulations thereunder as of December 31, 2004. Grandfathered Amounts shall be subject to the terms designated in the Adoption Agreement.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Deferrals means the amount of the Director’s Compensation that the Director elects to defer according to this Agreement.

  • Deferred Plan means a trust governed by a registered retirement savings plan, registered retirement income fund, registered education savings plan or tax-free savings 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.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • 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.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • 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.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Employer Contributions means all amounts paid into ASRS by an

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.

  • Salary reduction plan means a benefit plan whereby state and

  • 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.

  • Matching Contributions means contributions made by the Employer on account of an "eligible Participant's" Elective Deferrals.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.