Pre-2005 Deferral Account means the nonforfeitable value of a Participant's Deferral Account on December 31, 2004, together with the Investment Gain or Loss attributable to such Account thereafter. A Participant's Account is nonforfeitable to the extent that the Participant is not required to perform future services to be entitled to payment.
Examples of Pre-2005 Deferral Account in a sentence
A Participants Deferral Account shall be divided into a Pre-2005 Deferral Account and a Post-2004 Deferral Account.
In the event the Plan is terminated, the Administrative Committee may, in its sole discretion, immediately distribute the balance of the Participants Pre-2005 Deferral Account.
Deferral Account shall mean (i) the sum of all of a Participants Annual Deferral Amounts deferred prior to January 1, 2005, plus (ii) amounts credited or debited in accordance with all the applicable crediting/debiting provisions of this Plan that relate to the Participants Pre-2005 Deferral Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to his or her Pre-2005 Deferral Account.
For a Participant who received credits under this Plan prior to January 1, 2005, the Deferral Account shall include both a Pre-2005 Deferral Account (which is exempt from Code section 409A) and a Post-2004 Deferral Account (which is subject to Code section 409A).
Each such installment shall be deemed to be made on a pro rata basis from each of the different deemed investments of the Pre-2005 Deferral Account (if there is more than one such deemed investment).