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.

Qualified Reservist Distribution means a distribution of all or a portion of the balance in the employee's account under such arrangement if: (A) such individual is a member of a "reserve component" (as defined in section 101 of title 37, United States Code, which means a member of the Army National Guard; U.S. Army, Navy, Marine Corps, Air Force, or Coast Guard Reserve; Air National Guard of the United States; or the Reserve Corps of the Public Health Service); (B) has been ordered or called to active duty for a period in excess of 179 days or for an indefinite period; (C) the amount of the distribution must be for "all or a portion of the balance in the employee's account"; and (D) the distribution must be made within a certain timeframe. The period for making a qualified reservist distribution begins on the date the reservist is called or ordered to duty and ends on the last day that reimbursements could otherwise be made for the plan year that includes the first day of the distribution period.

Qualified Reservist Distribution means a distribution to a Participant of all or a portion of the balance of the Participant's FSA contribution if: (i) the Participant is a member of a reserve component, as defined by 37 U.S. C. § 101, ordered or called to active duty for a period of 180 days or more or for an indefinite period; and (ii) the request for distribution is made during the period beginning with the order or call to active duty and ending on the last day of the Plan Year that includes the date of the order or call to active duty. If the period specified in the order or call is less than 180 days, a Qualified Reservist Distribution is not allowed. However, a subsequent call or order that increases the total period of active duty to 180 days or more will qualify a Participant for a Qualified Reservist Distribution.

Examples of Qualified Reservist Distribution in a sentence

After a Qualified Reservist Distribution request, the Plan Administrator will terminate the right to submit further claims.
A Participant may continue to receive reimbursement for Qualifying Limited Purpose Expenses Incurred during the period of coverage for which an election is in force, prior to the date of a Qualified Reservist Distribution request.
A Qualified Reservist Distribution may not be made with respect to amounts: (i) attributable to a prior Plan Year (including a Plan Year ending on or before June 18, 2008); or attributable to non-Limited Purpose FSAs.
If a Participant would be entitled to a distribution on account of a deemed severance, and a distribution on account of another Plan provision (such as a Qualified Reservist Distribution), then the other Plan provision will control and the 6-month suspension will not apply.
If a Participant has unused funds in the Participant’s Limited Purpose FSA at the end of the Plan Year, and the Participant meets the requirements for and requests a Qualified Reservist Distribution, then the plan shall pay the amount contributed to the Limited Purpose FSA as of the date of the Qualified Reservist Distribution request, minus any prior Limited Purpose FSA reimbursements received during the Plan Year.

More Definitions of Qualified Reservist Distribution

Qualified Reservist Distribution means a distribution to an individual of all or a portion of the balance in such individual’s Health Flexible Spending Account if:

Qualified Reservist Distribution means a distribution of the unused contributions to a Medical Flexible Spending Account under Section 125(h) of the Code to a reservist (as defined in 37U.S.C. § 101) ordered or called to active duty as provided in Section 4.14. Qualified Reservist Distributions shall only be allowed if the Employer has elected to permit such distributions as specified in the Plan Highlights.

Qualified Reservist Distribution means a distribution to a Participant which includes a portion or the balance in the Participant's Health Flexible Spending Account as described in the Article titled: "Qualified Reservist Distribution".

Qualified Reservist Distribution or “QRD” means the taxable distribution of the balance of a Qualified Reservist’s HCFSA as set forth in Section 4.22.