QVEC Account definition

QVEC Account which means a Participant’s interest in the Plan’s assets composed of the amount allocated under the Plan as of the Effective Date, if any (as identified by the Administrator), including an amount allocated from the ▇▇▇ Gen Ltd. Profit Sharing Plan, if any, which continues to be accounted for under the Plan (as identified by the Administrator), plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account.
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QVEC Account which means a Participant's interest in the Plan's ------------ assets composed of an amount transferred from the Participant's "QVEC Account" in the Whitman Plan on or after January 1, 1998, if any, (as identified by the Administrator), plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account.
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QVEC Account which means a Participant's interest in the Plan's assets composed of the amount allocated under the Plan, as of January 1, 1998, if any (as identified by the Administrator), an amount allocated from the Lou Gen Ltd. Profit Sharing Plan as of January 1, 1998, if any, which continues to be accounted for under the Plan (as identified by the Administrator), plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account.
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Examples of QVEC Account in a sentence

  • Contributions made prior to that date, if any, will be maintained in a separate QVEC Account with respect to each affected Participant which will be nonforfeitable at all times.

  • A QVEC Account shall be established for each Participant to contain amounts attributable to QVECs, if any, plus earnings or losses thereon.

  • Subject to the Article VI Qualified Joint and Survivor Annuity requirements (if applicable), the Participant may withdraw any part of his or her QVEC Account at any time by making a written application to the Plan Administrator.

  • No part of the QVEC Account may be used to purchase life insurance or is available for a loan under the Plan.

  • Each Participant’s QVEC Account, if any, shall share in the gains and losses under the Plan in the same manner as any other Account under the Plan.

  • Hardship distributions are: [X] (1) permitted and shall be made from the vested portion of a Participant's Accounts (other than his or her Qualified Nonelective Contributions Account, Qualified Matching Contributions Account, QVEC Account, earnings accrued after December 31, 1988 on the Participant's Pre-Tax Contributions, or Safe Harbor Contributions under Section 3.16) as provided in Section 5.9.1. [ ] (2) not permitted.

  • A Participant shall at all times have a nonforfeitable interest in the Participant’s Pre-Tax Elective Deferral Account, ▇▇▇▇ Elective Deferral Account, After-Tax Account, Rollover Account, Qualified Matching Account, Qualified Nonelective Account and QVEC Account.

  • When requesting a withdrawal, any withdrawal amount shall come only from his or her Accounts, in the following priority order of Accounts: Post-Tax Account QVEC Account TRASOP Account ESOP Account Rollover Account Former Matching Contribution Account.

  • A Participant shall at all times have a vested percentage of 100% in the Account Balance in his or her Pre-Tax Contributions Account, ▇▇▇▇ Contributions Account, Qualified Nonelective Contributions Account, Employee After-Tax Contributions Account, Qualified Matching Contributions Account, Rollover Contributions Account, Safe Harbor Matching Contribution Account , Safe Harbor Nonelective Account and QVEC Account.

  • When requesting a withdrawal, any withdrawal amount shall come only from his or her Accounts, in the following priority order of Accounts: Post-Tax Account QVEC Account TRASOP Account ESOP Account Rollover Account Former Matching Contribution Account Effective as of January 1, 2000, Pay Based Account.

Related to QVEC Account

  • 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.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

  • 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.

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