Separation from Service Distribution Sub-Account definition

Separation from Service Distribution Sub-Account means the Account established under a Participant’s Account in connection with the Participant’s Separation from Service distribution pursuant to Section 6.2.
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Separation from Service Distribution Sub-Account means the Account established under a Participant's Account in connection with the Participant's Separation from Service distribution pursuant to Section 6.02.
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Examples of Separation from Service Distribution Sub-Account in a sentence

  • If a Participant Separates from Service at or after reaching his or her Retirement Date, his or her Separation from Service Distribution Sub-Account will be distributed to the Participant in accordance with his or her election of a lump sum payment or installment payments under Section 7.02 above.

  • However, only general references to the activities necessary to establish the third and fourth casas de justicia are included in this plan because these final two casas de justicia are provided for in the budget for the period of September 2002 to September 2003.

  • In the event that a Participant separates from service for any reason other than death or Total Disability prior to reaching his or her Retirement Date, then notwithstanding any election made under Section 7.02 above, the Participant's Separation from Service Distribution Sub-Account will be distributed to the Participant in a single lump sum payment.

  • Unless a Participant elects otherwise, the vested balance credited to his or her Separation from Service Distribution Sub-Account will be distributed in a single lump sum payment.

  • The Participant may elect to have the balance credited to the Separation from Service Distribution Sub-Account distributed in quarterly or annual installments over a period of up to fifteen (15) years.

  • Payment of a Participant's Separation from Service Distribution Sub-Account will commence as of the first calendar month following the calendar month of the Participant's Separation from Service date; provided, however, that in no event shall payment to a Participant who is a "specified employee" within the meaning of Code Section 409A on the date of his or her Separation from Service commence earlier than the end of the six (6) month period following the date of such separation.

  • If a Participant fails to make a distribution election, or does not allocate the full amount of the Compensation Deferrals for the Plan Year to one or more In-Service Distribution Sub-Accounts, such Compensation Deferrals will be allocated to the Participant's Separation from Service Distribution Sub-Account.

  • A Participant may elect to have the vested balance credited to his or her Separation from Service Distribution Sub-Account distributed in substantially equal monthly installment payments for a period of 36, 48 or 60 months.

  • If the distribution exhausts the In-Service Distribution Sub-Accounts, the balance of the Participant's Separation from Service Distribution Sub-Account may be accessed.

  • Notwithstanding the foregoing, if the balance credited to the Participant's Separation from Service Distribution Sub-Account as of the last business day of the Plan Year preceding the Participant's Separation from Service date is less than $50,000, the Account will be distributed in a single lump payment.

Related to Separation from Service Distribution Sub-Account

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

  • Severance from Service Date means the earlier of:

  • 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.

  • 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.

  • 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.

  • 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.

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

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

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

  • 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).

  • Public employees retirement system means the retirement plan and program

  • Qualified Retirement means the Participant’s voluntary termination of Service after reaching age 65 and completing 10 years of service with the Company, its Subsidiaries or predecessors.

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

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

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

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • 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

  • Benefit Distribution Date means the date upon which all or an objectively determinable portion of a Participant’s vested benefits will become eligible for distribution. Except as otherwise provided in the Plan, a Participant’s Benefit Distribution Date shall be determined based on the earliest to occur of an event or scheduled date set forth in Articles 4 through 9, as applicable.

  • Termination of Employment means that the Executive ceases to be employed by the Company for any reason, voluntary or involuntary, other than by reason of a leave of absence approved by the Company.

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Regular Distribution Date Replacement Liquidity Facility", "Responsible Officer", "Scheduled Payment", "Special Payment", "S&P", "Stated Interest Rate", "Subordination Agent", "Taxes", "Threshold Rating", "Trust Agreement", "Trustee", "Underwriters", "Underwriting Agreement", "United States" and "Written Notice".

  • 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)).

  • Service-disabled veteran means a veteran, as defined in 38 U.S.C. 101(2), with a disability that is service-connected, as defined in 38 U.S.C. 101(16).

  • 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.

  • Disability retirement for plan 1 members, means the period