Qualified Birth or Adoption Distribution definition

Qualified Birth or Adoption Distribution means a distribution made during the 1-year period beginning on the date on which a child of the Depositor is born or on which the legal adoption by the Depositor of an eligible adoptee is finalized. The term “eligible adoptee” means any individual (other than a child of the Employee’s spouse) who has not attained age 18 or is physically or mentally incapable of self-support.
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Qualified Birth or Adoption Distribution means a withdrawal made by a Participant pursuant to Subsection 8.9.9(a).
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Qualified Birth or Adoption Distribution means a distribution from an applicable eligible retirement plan to the Participant if made during the one-year period beginning on the date on which a child of the Participant is born or on which the legal adoption by the Participant of an eligible adoptee is finalized. An “eligible adoptee” is any individual (other than the child of the Particiant’s spouse) who has not attained age 18 or who is physically or mentally incapable of self-support.
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Examples of Qualified Birth or Adoption Distribution in a sentence

  • Qualified Birth or Adoption Distribution as defined in section 72(t)(2) of the Internal Revenue Code * For purposes of section 72(m)(7), an individual shall be considered to be disabled if he is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or to be of long-continued and indefinite duration.

  • Unless the Administrator of the Plan has actual knowledge to the contrary, the Administrator may rely on reasonable representations from the Participant in determining whether a Participant is eligible for a Qualified Birth or Adoption Distribution.

  • A Qualified Birth or Adoption Distribution is any distribution of up to $5,000 (or lesser amount as provided in the Adoption Agreement) from the Plan to a Participant if made during the 1- year period beginning on the date the child of the Participant is born or the legal adoption by the Participant of an eligible adoptee is finalized.

  • The Administrator may rely upon the Participant’s certification that the request satisfies the conditions to be a Qualified Birth or Adoption Distribution.

  • In the event that an Active Partner should be prohibited by law from engaging in a business profession, or in the case of personal bankruptcy, or should insolvency, receivership or compulsory liquidation proceedings be initiated against him, such Active Partner shall automatically lose his status as Active Partner ipso jure; the Company shall not be dissolved.

  • The Participant may repay a Qualified Birth or Adoption Distribution by making one or more contributions in an aggregate amount not to exceed the amount of the Qualified Birth or Adoption Distribution to any eligible plan or IRA to which such Participant could make a Rollover Contribution.

  • A Qualified Birth or Adoption Distribution is any distribution of up to $5,000 from the Plan to a Participant if made during the 1-year period beginning on the date the child of the Participant is born or the legal adoption by the Participant of an eligible adoptee is finalized.

  • Portman and Cardin's Retirement Security and Savings Act (116th Congress)Section 315 - Repayment of Qualified Birth or Adoption Distribution Limited to 3 YearsA recontribution of any portion of a qualified birth or adoption distribution, may, at any time during the three-year period beginning on the day after the date on which the distribution was received, be recontributed to an applicable eligible retirement plan to which a rollover can be made.

  • A Participant may take a Qualified Birth or Adoption Distribution in an amount equal to [insert an amount no greater than $5,000] for each child of the participant.

  • Early (premature) distribution - You are under age 59½.(including distributions due to medical expenses, health insurance premiums, higher education expenses, first time homebuyer expenses, Qualified Reservist Distribution, Qualified Hurricane Distribution, Qualified Birth or Adoption Distribution and other reasons.)🞏 3.


More Definitions of Qualified Birth or Adoption Distribution

Qualified Birth or Adoption Distribution means a distribution to a Member during the one-year period beginning on the date on which a child of the Member is born or on which the legal adoption by the individual of an eligible adoptee is finalized. For this purpose, “eligible adoptee” shall many any individual (other than a child of the Member’s Spouse) who has not attained age 18 or is physically or mentally incapable of self-support. To the extent permitted by law, the Committee may rely on a Member’s reasonable representation that he or she satisfies the requirements of this paragraph, unless the Committee has actual knowledge to the contrary.
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Qualified Birth or Adoption Distribution means any distribution of up to $5,000 from the Plan to a Participant, provided such distribution is made during the 1-year period beginning on: (A) the date of birth of the Participant’s child or (B) the date on which the Participant’s legal adoption of an Eligible Adoptee is finalized.
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Qualified Birth or Adoption Distribution means a distribution made to a Participant within the one-year period beginning on the date on which a child of the Participant is born or on which the legal adoption by the Participant of an eligible adoptee is finalized.
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Related to Qualified Birth or Adoption Distribution

  • Qualified Non-Elective Contribution means any Employer contributions made pursuant to Section 4.1(c) and Section 4.6(b) and Section 4.8(f). Such contributions shall be considered an Elective Contribution for the purposes of the Plan and may be used to satisfy the "Actual Deferral Percentage" tests or the "Actual Contribution Percentage" tests.

  • Liquidation Distribution has the meaning specified in Section 9.4(d).

  • Qualified Nonelective Contribution (QNEC) means the Employer's contributions to the Plan that are made pursuant to Sections 12.1(a)(4), 12.5 and 12.7 or pursuant to any other Plan provision which provides for such contributions.

  • Hardship Distribution means a severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of his or her dependent (as defined in Section 152(a) of the Code), loss of a Participant’s property due to casualty, or other similar or extraordinary and unforseeable circumstances arising as a result of events beyond the control of the Participant. The circumstances that would constitute an unforseeable emergency will depend upon the facts of each case, but, in any case, a Hardship Distribution may not be made to the extent that such hardship is or may be relieved (i) through reimbursement or compensation by insurance or otherwise, (ii) by liquidation of the Participant’s assets, to the extent the liquidation of assets would not itself cause severe financial hardship, or (iii) by cessation of deferrals under this Plan.

  • Plan Distribution means a payment or distribution to Holders of Allowed Claims, Allowed Interests, or other eligible Entities under and in accordance with the Plan.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Qualified Reservist Distribution means a distribution (i) from an IRA or elective deferrals under a section 401(k) or 403(b) plan, or a similar arrangement, (ii) to an individual ordered or called to active duty after September 11, 2001 (because he or she is a member of a reserve component) for a period of more than 179 days or for an indefinite period, and (iii) made during the period beginning on the date of the order or call and ending at the close of the active duty period.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Qualified Nonelective Contributions means contributions of the Plan Sponsor or an Affiliate, other than Matching Contributions or Elective Deferrals, which are 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 Code Section 401(k)(2)(B) and the regulations thereunder.

  • Qualifying contribution means, with respect to a candidate, a contribution that—

  • Security Distribution As to any Mortgage Security and Security Distribution Due Date, the amount of distribution payable to the holder of such Mortgage Security in accordance with its terms.

  • Nonelective Contribution means an amount contributed by a participating

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Distribution Election With respect to any Series, as specified in the related Supplement.

  • Qualified distribution means a distribution from a Roth Elective Deferral Account after the Participant has satisfied a five year tax holding period and has attained age 59½, died, or become Disabled, in accordance with Code Section 402A(d). The five year tax holding period is the period of five consecutive taxable years that begins with the first day of the first taxable year in which the Participant makes a designated Roth Elective Deferral under the Plan or to another retirement plan which amount was directly rolled over to the Plan, and ends when five consecutive taxable years have been completed.

  • Elective Contribution means the Employer's contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess "annual additions" pursuant to Section 4.10(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.6 shall be considered an Elective Contribution for purposes of the Plan. Any such contributions deemed to be Elective Contributions shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the discrimination requirements of Regulation 1.401(k)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Member contribution means a contribution under regulation 32;

  • 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

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

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • 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.

  • Election cycle means the period beginning on the first day persons are eligible to

  • Income Distribution shall be calculated as set forth in subparagraph (A), below, unless the Prospectus provides for the averaging of income distributions, in which case, "Income Distribution" shall be shall be calculated as set forth in subparagraph (B), below. Accordingly, the Unitholder's "Income Distribution" shall be equal to:

  • Scheduled Distribution means, with respect to any Collateral Loan, for each Due Date, the scheduled payment of principal and/or interest and/or fees due on such Due Date with respect to such Collateral Loan.

  • Safe Harbor Election has the meaning set forth in Section 10.2(d).

  • qualifying age for state pension credit means (in accordance with section 1(2)(b) and (6) of the State Pension Credit Act 2002)—