Separation from Service Distribution Account definition

Separation from Service Distribution Account means the portion of a Participant’s Account that is payable at the time set forth in Section 5.2(b)(i) and in the form set forth in Section 5.2(c)(i).
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Examples of Separation from Service Distribution Account in a sentence

  • The amount of the lump sum payment will be equal to the value of the Separation from Service Distribution Account as of the last valuation date preceding the date of payment.

  • Each installment payment shall be in the amount equal to (A) the value of the Separation from Service Distribution Account, as of the last valuation date preceding the date of payment, divided by (B) the number of installments remaining to be paid.

  • In the event of an election under subsection (d)(i) hereof with respect to a Participant’s Separation from Service Distribution Account and/or Specified Date Distribution Account(s), the Payment Date for the affected Separation from Service Distribution Account and/or Specified Date Distribution Account(s) will be delayed to 5 years after the date of payment that applied prior to the election, or such later date as may be elected by the Participant under subsection (d)(i) hereof.

  • Such an Investment Election will prescribe the percentage of his existing Separation from Service Distribution Account balance or Specified Date Distribution Account balance and future contributions to such Separation from Service Distribution Account or Specified Date Distribution Account that will be deemed invested in each Investment Fund.

  • Except as otherwise provided in subsection (d) hereof, each Participant’s Separation from Service Distribution Account will be distributed or commence to be distributed on the 6-month anniversary of the date the Participant Separates from Service.

  • All Matching Contributions made with respect to a Participant will be allocated to his Separation from Service Distribution Account and/or Specified Date Distribution Account(s) in the same portion that the Participant’s Deferrals to which such Matching Contributions relate are so allocated.

  • Except as provided in subsections (c)(i)(B) and (d) hereof, a Participant’s Separation from Service Distribution Account will be distributed in the form of a single lump-sum payment.

  • The number of annual installment payments elected by the Participant will be specified in the Participant’s first Deferral Election under which any Deferrals are allocated to his Separation from Service Distribution Account.

  • All Discretionary Contributions made with respect to a Participant will be allocated to his Separation from Service Distribution Account and will be distributed at the same time and in the same form as the remainder of the Participant’s Separation from Service Distribution Account.

  • A Participant may elect, at the time he makes his first Deferral Election under which any Deferrals are allocated to his Separation from Service Distribution Account, to receive all or any portion of his Separation from Service Distribution Account in the form of annual installments.

Related to Separation from Service Distribution Account

  • Separation from Service means a “separation from service” (within the meaning of Section 409A).

  • Severance from Service Date means the earlier of:

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Separates from Service or “Separation from Service” means the Participant’s termination of service as a non‑employee director and as an employee of UGI for any reason other than death and shall be determined in accordance with section 409A of the Code.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • 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.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Termination Benefit means the benefit set forth in Article 7.

  • 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

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Severance from Employment means severance from employment with the Employer and any Related Entity. However, a Severance from Employment also occurs on any date on which an Employee ceases to be an employee of a public school, even though the Employee may continue to be employed by a Related Employer that is another unit of the State or local government that is not a public school or in a capacity that is not employment with a public school (e.g., ceasing to be an employee performing services for a public school but continuing to work for the same State or local government employer).

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Section 409A Payment Date means the earlier of (a) the date of Executive’s death or (b) the date that is six months after the date of termination of Executive’s employment with the Company.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.