Prior ESOP Account definition

Prior ESOP Account means that portion of the Trust Fund, which, with respect to any Member or Deferred Member, is attributable to his “Prior ESOP Account” under the ISP that was transferred from the ISP to the Plan, plus investment earnings and gains or losses.
Sample 1Sample 2Sample 3
Prior ESOP Account means the separate account, if any, maintained for each Participant that evidences the value of the contributions made on the Participant’s behalf under the Plan provisions that permitted contributions as part of an employee stock ownership feature of the Plan in effect prior to December 1, 2000. In addition to contributions made on the Participant’s behalf, the Prior ESOP Account shall consist of related investment earnings and loan repayments and shall be debited allocable expenses, investment losses, loans, withdrawals and distributions.”
Sample 1
Prior ESOP Account means that portion of the Trust Fund, which, with respect to any Member or Deferred Member, is attributable to allocations and contributions, made under the employee stock ownership plan portion of the Pre-Distribution ITT Plan.
Sample 1

Examples of Prior ESOP Account in a sentence

  • A Participant may transfer the cumulative balance of his Individual Account, excluding the portion attributable to his Prior ESOP Account.

  • An individual with a Prior ESOP Account shall automatically become a Participant in the Plan at the time of the transfer of their prior ESOP balance.

  • That portion of the Participant's Individual Account attributable to the Prior ESOP Account shall be fully-vested and non-forfeitable under the Plan.

  • A Member’s Prior ESOP Account shall be invested entirely in the ITT Stock Fund, Exelis Stock Fund, and Xylem Stock Fund, as applicable, except when a Member elects to have all or part of his Prior ESOP Account transferred to or invested in another Investment Fund pursuant to this Article 7.

  • Pursuant to the procedures adopted by the Administrator, including but not limited to the establishment of minimum amounts, a Participant may elect to have distributed to him any portion or all of his Prior ESOP Account.

  • Such Individual Account is comprised of the following accounts: a Salary Redirection Account, a Matching Contribution Account, a Rollover Contribution Account, and effective January 1, 1998 the Prior ESOP Account.

  • Notwithstanding the provisions of Subsection 4.2(c) and Section 7.2, effective January 1,1998, a Participant, Former Participant, or Beneficiary after reaching age fifty five (55), may transfer the balance of his Prior ESOP Account from the LG&E Energy Corp.

  • The plan contains objectives for heritage conservation andspecific policies to achieve them.

  • An individual with a Prior ESOP Account shall automatically become a Participant in the Plan, effective January 1, 1998.

  • An Active or Inactive Participant may withdraw all or a portion of his Prior ESOP Account at any time.


More Definitions of Prior ESOP Account

Prior ESOP Account means the subaccount established for each affected Participant to which Company Stock transferred to the Plan from the ESOP, and any earnings thereon, shall be credited.
Sample 1
Prior ESOP Account means that portion of the Trust Fund, which, with respect to any Member or Deferred Member, is attributable to his
Sample 1

Related to Prior ESOP Account

  • 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.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • 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.

  • 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.

  • 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.

  • 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.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution 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.

  • Company Contributions means the contributions made by the Company pursuant to Section 3.3.

  • 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.

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

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • 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.

  • Company Stock Account means the account established and maintained in the name of each Participant or Beneficiary to reflect his share of the Trust Fund invested in Company Stock.

  • 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

  • Plan Account means the account established for each Participant pursuant to Section 8(a).

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.

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

  • Employer Contributions means all amounts paid into ASRS by an

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Matching Contribution means an Employer contribution made to this or any other Defined Contribution Plan on behalf of a Participant on account of an Employee Contribution made by such Participant, or on account of a Participant's Employee Elective Deferral, under a plan maintained by the Employer.

  • 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.