UNALLOCATED CONTRIBUTION definition

UNALLOCATED CONTRIBUTION. If a properly completed enrollment form has not been received for a Participant, LL&A will deposit such Contributions to the Pending Allocation Account as described in ARTICLE II - DEFINITIONS, unless such Contributions are designated to another Account in accordance with the Plan. LL&A will follow up with the Contractholder monthly for a period of ninety (90) days for enrollment information for Participants with deposits in the Pending Allocation Account. Within two (2) business days of receipt of a completed enrollment form, the Participant's Account balance in the Pending Allocation Account will be transferred to the Divisions Form No.: GAC 96-101 (NY) 11 and/or Sub-Accounts according to the percentages requested by the Participant. When the completed enrollment form is received, the Participation Date will be the date on which the first Contribution on behalf of the Participant was deposited into the Pending Allocation Account. If an enrollment form is not received after the ninety (90) day notice, a Participant's Account balance in the Pending Allocation Account will be refunded to the Contractholder within one hundred five (105) days of the date of the initial Contribution. Contributions received after a refund while there is still no allocation information, will be deposited to the Pending Allocation Account. The Pending Allocation Account will only be used for the purpose mentioned above; Participants may not direct a portion of their Contributions to this Account. Contributions deposited in the Pending Allocation Account will not be afforded the same rights as Contributions under this Contract. The following Articles and/or Sections under this Contract will not be applicable: (i) Section 3.7 ANNUAL ADMINISTRATION CHARGE, (ii) ARTICLE VI - TRANSFERS BETWEEN DIVISION AND SUB-ACCOUNTS, (iii) ARTICLE VII - WITHDRAWALS AND DISTRIBUTIONS, (iv) ARTICLE IX - PAYOUT ANNUITIES, and (v) ARTICLE X - LOANS. Form No.: GAC 96-101 (NY) 12 ARTICLE IV - GUARANTEED INTEREST DIVISION
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Examples of UNALLOCATED CONTRIBUTION in a sentence

  • If that amount is subsequently able to be reconciled with a contribution schedule submitted by an EMPLOYER, then the UNALLOCATED CONTRIBUTION ACCOUNT must be debited with that amount which must then be credited to the relevant MEMBER SHARE ACCOUNT, the EXPENSE RESERVE ACCOUNT, the SELF-INSURANCE ACCOUNT and, if applicable, the BENEFITS PAYABLE ACCOUNT or the UNCLAIMED BENEFITS ACCOUNT.

  • If that amount is subsequently reconciled with a contribution schedule submitted by an EMPLOYER, then the UNALLOCATED CONTRIBUTION ACCOUNT must be debited with that amount which must then be credited to the relevant MEMBER SHARE ACCOUNT, the EXPENSE RESERVE ACCOUNT, the SELF-INSURANCE ACCOUNT and, if applicable, the UNCLAIMED BENEFITS ACCOUNT.

  • If that amount is subsequently able to be reconciled with a contribution schedule submitted by an EMPLOYER, then the UNALLOCATED CONTRIBUTION ACCOUNT must be debited with that amount which must then be credited to the relevant MEMBER SHARE ACCOUNT, the EXPENSE RESERVE ACCOUNT, the SELF INSURANCE ACCOUNT and, if applicable, the UNCLAIMED BENEFITS ACCOUNT.

Related to UNALLOCATED CONTRIBUTION

  • Accumulated contributions means the sum of all

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Nonelective Contribution means an amount contributed by a participating

  • Qualified Nonelective Contributions means contributions of the Plan Sponsor or an Affiliate, other than Matching Contributions or Elective Deferrals, which are nonforfeitable when made, and which would be nonforfeitable regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Code Section 401(k)(2)(B) and the regulations thereunder.

  • Qualified Nonelective Contribution (QNEC) means the Employer's contributions to the Plan that are made pursuant to Sections 12.1(a)(4), 12.5 and 12.7 or pursuant to any other Plan provision which provides for such contributions.

  • 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.

  • Contribution Period means a period in respect of which contributions appropriate to the benefit in question are payable, have been paid or treated as paid under the legislation in question;

  • Excess Contribution means a contribution that exceeds the

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Member contribution means a contribution under regulation 32;

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Matching Contribution means an Employer contribution made to this or any other Defined Contribution Plan on behalf of a Participant on account of an Employee Contribution made by such Participant, or on account of a Participant's Employee Elective Deferral, under a plan maintained by the Employer.

  • Matching Contributions means contributions made by the Employer on account of an "eligible Participant's" Elective Deferrals.

  • Employer Contributions means all amounts paid into ASRS by an

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Qualifying contribution means, with respect to a candidate, a contribution that—

  • Cash Contribution refers to a direct payment of Contribution in Canadian currency.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash 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.

  • Elective Contribution means the Employer's contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess "annual additions" pursuant to Section 4.10(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.6 shall be considered an Elective Contribution for purposes of the Plan. Any such contributions deemed to be Elective Contributions shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the discrimination requirements of Regulation 1.401(k)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Discretionary Contribution means the contribution made by the Employer on behalf of a Participant as described in Section 4.4(b).

  • 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.

  • Company Contribution means that portion of the main extension costs which the Company will fund based upon the following formula: