SIAC SESP Grandfathered Account definition

SIAC SESP Grandfathered Account means the account (including sub-accounts, if applicable) maintained for a Participant who was a participant in the SIAC SESP on December 31, 2007 that reflects such Participant’s SIAC SESP Grandfathered Benefits determined as of such date and to which Earnings attributable to periods on and after January 1, 2008 shall be credited. Amounts (including earnings) credited to a Participant’s “Grandfathered Plan Account” and “SERP Account” in the SIAC SESP shall be maintained in separate sub-accounts in such Participant’s SIAC SESP Grandfathered Account under the Plan. All amounts (plus Earnings) credited to a Participant’s SIAC SESP Grandfathered Account shall be fully vested at all times.
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Examples of SIAC SESP Grandfathered Account in a sentence

  • Payments of the Participant’s SIAC SESP Grandfathered Account in annual installments over 10 years or over a period of 2 to 5 years as elected by the Participant.

  • Payments of the Participant’s SIAC SESP Grandfathered Account as provided pursuant to the Annual Installment form described in subsection (C) above except that the first annual installment shall be made as soon as practicable after the first anniversary of the event occasioning payment based on the value of the account at such first anniversary date.

  • A Participant may make different distribution elections for sub-accounts in his SIAC SESP Grandfathered Account.

  • Documentation of the risk assessments for violence and elopement, the community access recommendation, and of all opinions for and against the risk assessments and community access recommendation (with documentation by someone present at the discussion).

  • Once payment of a Participant’s SIAC SESP Grandfathered Account has commenced, such Participant shall not be permitted to change the form of distribution during his lifetime.

  • Payment of the Participant’s SIAC SESP Grandfathered Account, valued as of the end of the month coincident with or next following the event occasioning the payment, in a single sum payment made as soon as administratively practicable following such valuation date.

  • If a Participant does not timely or properly make a time and form of payment distribution election, distribution of such Participant’s SIAC SESP Grandfathered Account shall be made to him pursuant to the Single Payment form of distribution described in Section 9(a)(A) above.

  • To the extent applicable, a Participant may make different distribution elections for sub-accounts in his SIAC SESP Grandfathered Account.

  • A Participant shall be permitted, in the time and manner prescribed by the Committee, to elect to have his SIAC SESP Grandfathered Account distributed to him upon his retirement or Employment Termination (as defined below) or to his Beneficiary, in the event of his death, in one of the following forms of distribution: (A) Single Payment.

Related to SIAC SESP Grandfathered Account

  • Grandfathered Amounts means, if applicable, the amounts that were deferred under the Plan and were earned and vested within the meaning of Section 409A of the Code and regulations thereunder as of December 31, 2004. Grandfathered Amounts shall be subject to the terms designated in the Adoption Agreement.

  • 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.

  • Grandfathered Service means service which is no longer available for new customers and is limited to the current customer at their current locations with certain provisioning limitations, including but not limited to upgrade denials, feature adds/changes and responsible/billing party.

  • 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

  • Covered Account means an account holding Fund shares established by a financial intermediary for a natural person as the owner of record on the Fund Registry and through which such owner of record has the ability to conduct transactions in Fund shares directly with and through PNC.

  • Grandfathered Percentage means, with respect to any Grandfathered Person, the percentage of the outstanding shares of Common Stock of the Company that such Grandfathered Person, together with all Affiliates and Associates of such Grandfathered Person, Beneficially Owns as of the Grandfathered Time, plus an additional 1/2%; provided, however, that, in the event any Grandfathered Person shall sell, transfer, or otherwise dispose of any outstanding shares of Common Stock of the Company after the Grandfathered Time, the Grandfathered Percentage shall, subsequent to such sale, transfer or disposition, mean, with respect to such Grandfathered Person, the lesser of (i) the Grandfathered Percentage as in effect immediately prior to such sale, transfer or disposition or (ii) the percentage of outstanding shares of Common Stock of the Company that such Grandfathered Person Beneficially Owns immediately following such sale, transfer or disposition, plus an additional 1/2%.

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

  • 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.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Grandfathered health plan means a group health plan or an

  • 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.

  • 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.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Salary reduction plan means a benefit plan whereby state and

  • 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)).

  • 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.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • 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.

  • Grandfathered Person means any Person who or which, together with all Affiliates and Associates of such Person, is, as of the Grandfathered Time, the Beneficial Owner of 15% or more of the shares of Common Stock of the Company then outstanding. Notwithstanding anything to the contrary provided in this Agreement, any Grandfathered Person who after the Grandfathered Time becomes the Beneficial Owner of less than 15% of the shares of Common Stock of the Company then outstanding shall cease to be a Grandfathered Person and shall be subject to all of the provisions of this Agreement in the same manner as any Person who is not and was not a Grandfathered Person.

  • Nonqualified Deferred Compensation Rules means the limitations or requirements of Section 409A of the Code, as amended from time to time, including the guidance and regulations promulgated thereunder and successor provisions, guidance and regulations thereto.

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.