Thrift BEP definition

Thrift BEP means the Federal Home Loan Bank of Boston Thrift Benefit Equalization Plan, as it may be amended or restated from time to time.
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Examples of Thrift BEP in a sentence

  • The Bank is specifically authorized to reduce the Member’s Incentive Compensation by this percentage for credit to the Member’s Account under the Thrift BEP.

  • All amounts deferred under this Agreement will be held by the Bank as part of its general assets in accordance with the provisions of the Thrift BEP.

  • This Agreement shall be subject to and governed by all of the terms and provisions of the Thrift BEP and any administrative rules and procedures the Bank has set up for the Plan.

  • Subject to the provisions of the Thrift BEP, the Member elects to defer receipt of [3%] (not to exceed 100%) of his or her Incentive Compensation earned in 2006 and otherwise payable to him or her in 2007 under the Bank’s 2006 Executive Incentive Plan.

  • Subject to the provisions of the Thrift BEP, the Member elects to defer receipt of [ 10%] (not to exceed 100%) of his or her Incentive Compensation earned in 2006 and otherwise payable to him or her in 2007 under the Bank’s 2006 Executive Incentive Plan.

  • The Member elects to have the following percentages of his or her Incentive Compensation contribution described in Section 1 above credited under the Thrift BEP to his or her Retirement Account and Scheduled Distribution Accounts in the following percentages: 100% % % % % % = 100 % Beginning in 2006, Scheduled Distribution Accounts generally operate the same way as Post-Secondary Education Subaccounts, with some modifications.

  • The Member elects to have the following percentages of his or her Incentive Compensation contribution described in Section 1 above credited under the Thrift BEP to his or her Retirement Account and Scheduled Distribution Accounts in the following percentages: 100% % % % % % = 100% Beginning in 2006, Scheduled Distribution Accounts generally operate the same way as Post-Secondary Education Subaccounts, with some modifications.

Related to Thrift BEP

  • Thrift Plan means the Financial Institutions Thrift Plan, a qualified and tax-exempt defined contribution plan and trust under Sections 401(a) and 501(a) of the Code, as adopted by the Bank.

  • Qualified Plan means a Benefit Arrangement that is intended to be tax-qualified under Section 401(a) of the Internal Revenue Code.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in value in the aggregate as are payable thereunder prior to a Change in Control.

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Qualified Plans has the meaning set forth in Section 5.20.