Definition of Qualified Matching Contributions Account


Qualified Matching Contributions Account means the Account of a Participant to which are credited any Qualified Matching Contributions allocated to the Participant each Plan Year under Section 3.1(c) of this Plan.


Qualified Matching Contributions Account means an account established pursuant to section 6.2 with respect to Qualified Matching Contributions made pursuant to sections 5.3(a)(1). A Participant’s Qualified Matching Contributions Account shall also include amounts previously credited to the Participant’s “Post-1998 ESOP Matching Contribution Account” in this Plan under the terms of this Plan as in effect immediately before this Amendment and Restatement.

Qualified Matching Contributions Account means, with respect to a Participant, the account established under the Plan for such Participant representing the Qualified Matching Contributions plus any gains or losses allocated to such account in accordance with the provisions of the Plan, as adjusted to reflect distributions therefrom. Such account will be fully vested and nonforfeitable at all times.

Examples of Qualified Matching Contributions Account in a sentence

A Qualified Matching Contributions Account shall be established for each Participant for whom Qualified Matching Contributions are made, to which the Plan Administrator shall credit, or cause to be credited, all amounts allocable to each such Participant, plus earnings or losses thereon.
Amounts distributed under this Section 3.4.2(D) shall first be distributed from the Participant's Elective Deferrals Account and Qualified Matching Contributions Account in proportion to the Participant's Elective Deferrals and Qualified Matching Contributions (to the extent used in the ADP Test) for the Plan Year.
The Trustee’s determination of market value shall be binding and conclusive upon all parties.The value of a Participant’s Plan accounts as of any Valuation Date shall be the sum of the values of his or her investment subaccounts in each of the Participant’s Profit Sharing Account, Salary Deferral Contributions Account, Matching Contributions Accounts, Rollover Account, After-Tax Account, Qualified Nonelective Contributions Account and Qualified Matching Contributions Account.
A Participant has a 100% Nonforfeitable interest at all times in his Deferral Contributions Account, his Qualified Matching Contributions Account, his Qualified Nonelective Contributions Account and in his Mandatory Contributions Account.
Excess Contributions shall be distributed from the Participant's Qualified Nonelective Contributions Account only to the extent that such Excess Contributions exceed the balance in the Participant's Elective Deferrals Account and Qualified Matching Contributions Account.