Definition of Pre-2005 Subaccount


Pre-2005 Subaccount means a subaccount for all amounts credited to a Participant's Deferral Account before January 1, 2005 (and earnings thereon).
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Examples of Pre-2005 Subaccount in a sentence

A Participants Account will be divided into the following subaccounts: (i) a Pre-2005 Subaccount for amounts deferred by a Participant and vested for purposes of Code Section 409A as of December 31, 2004 (and earnings and losses thereon), and (ii) a Post-2004 Subaccount for amounts deferred by a Participant and/or vested for purposes of Code Section 409A after December 31, 2004 (and earnings and losses thereon).
Pre-2005 Subaccount means any Deferral Year Subaccount attributable to a Deferral Year before 2005.
Non-Employee Director's account(s) shall be further divided into the following subaccounts: (a) a "Pre-2005 Subaccount" for amounts deferred by a Non-Employee Director as of December 31, 2004 (and earnings and losses thereon) as determined under Treasury Regulation Section 1.409A-6(a) or any successor provision, and (b) a "Post-2004 Subaccount" for amounts deferred for purposes of Code Section 409A by a Non-Employee Director after December 31, 2004 (and earnings and losses thereon).
A Participant's Account will be divided into the following subaccounts: (a) a "Pre-2005 Subaccount" for amounts Deferred by a Participant and vested for purposes of Code Section 409A as of December 31, 2004 (and earnings and losses thereon), and (b) a "Post-2004 Subaccount" for amounts Deferred by a Participant and/or vested for purposes of Code Section 409A after December 31, 2004 (and earnings and losses thereon).
There will be a penalty deducted from the Pre-2005 Subaccount prior to an unscheduled withdrawal equal to 10% of the Pre-2005 Subaccount balance as of the date the unscheduled withdrawal request is received by the Vice President, Human Resources.