Remaining Deferred Amounts definition
Remaining Deferred Amounts means the product of a Participant’s Deferred Amounts times a fraction equal to the number of remaining installment payments divided by the total number of installment payments.
Examples of Remaining Deferred Amounts in a sentence
In the event that the Account Balance is paid out completely during a Fiscal Year prior to the date that the Annual Charge is assessed, a pro rata -------- Annual Charge will be deducted from amounts to be paid to the Participant to cover that fraction of the Fiscal Year that Deferred Amounts (or Remaining Deferred Amounts in the case of installment payments) were maintained hereunder.
In the event that the Participant elects to have the Account Balance paid in installments, this Annual Charge will be charged on the Remaining Deferred Amounts after giving effect to the installment payments.