Thrift Account definition

Thrift Account means that separate portion of an Account established pursuant to Section 8.1 and which consists of the sum of the following subaccounts of such Participant:
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Thrift Account which shall reflect a Participant’s interest in matching contributions made by a Plan Sponsor under Section 3.3.
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Thrift Account. The bookkeeping account of a Participant attributable to Company Thrift Contributions and Participant Thrift Contributions, and any deemed earnings thereon, under the Plan, consisting of the following subdivisions:
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Examples of Thrift Account in a sentence

  • Each Participant shall at all times have a fully vested interest in his Elective Deferral Account, Qualified Nonelective Account, Voluntary Account, Voluntary Tax-Deductible Account and Thrift Account.

  • Starting for Plan Year(s) beginning January 1, 1987, if permitted under the Adoption Agreement, Participants may make Thrift Contributions which shall be allocated to a Thrift Account for each such Participant.

  • Basic Deposit Subaccount shall mean that portion of a Participant's Thrift Account which evidences the value of Basic Deposits by or on behalf of a Participant under the Plan, including the net worth of the Trust Fund attributable thereto.

  • In the current financial year, the municipality has managed to appoint an ICT Manager to provide the strategic direction for the unit, however there are still vacant critical positions not yet filled as per the organogram.

  • Deposits, Rollover Contributions and Employer Contributions to the Plan shall be invested by the Trustee under the Trust Agreement in the Funds established pursuant to Section 7.1. Upon enrolling in the Plan, each Participant shall specify, in such form as shall be prescribed by the Committee, the percentage (which shall be an integral multiple of 1% - including 0% but not exceeding 100% in the aggregate) of Deposits to his or her Thrift Account which shall be invested in each of such Funds.

  • If a Participant shall cease to be an Eligible Employee, Deposits and Employer Contributions to his or her Thrift Account shall be suspended and no Additional Lump Sum Deposits shall be permitted to be made during the period of ineligibility.

  • The assets of each such subaccount of the Thrift Account shall be identified as to Nondeferred or Deferred.

  • The amounts of Deferred Deposits in a Participant's Thrift Account shall at all times be separately accounted for from other amounts in such Thrift Account, by allocating investment gains and losses on Deferred Deposit amounts on a reasonable pro rata basis and by adjusting the Deferred and other portions of the subaccounts of a Participant's Thrift Account for withdrawals, distributions, borrowings and contributions.

  • Each payment shall be an amount equal to the Participant's Thrift Account as of the applicable date divided by the number of payments remaining.

  • The minimum withdrawal permitted shall be $200, unless such withdrawal is 100% of the current value of the Deferred portion of a Participant's Thrift Account.

Related to Thrift Account

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

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

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • 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.

  • Investment Account As defined in Section 3.12(a).

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

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • 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)).

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

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

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Direct Account : means any Account which is not an ISA Account.

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • 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.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • 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.

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement.

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • Separate Accounts means the accounts which are to be prepared for each

  • 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.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • 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.

  • In-Service Account means a separate account to be kept for each Participant that has elected to take in-service distributions as described in Section 5.4. The In-Service Account shall be adjusted in the same manner and at the same time as the Deferred Compensation Account under Section 8 and in accordance with the rules and elections in effect under Section 8.

  • Note Account As defined in the Indenture.