Vested Balance definition

Vested Balance means that amount in a Participant’s Accounts that is nonforfeitable and shall be calculated, on any given date, as follows:

Vested Balance means the amount determined under Subsection 10.2(b).

Vested Balance as of a given date shall mean the aggregate balances of a Member's Matched After-Tax Contributions Account, Unmatched After-Tax Contributions Account, Elective Contributions Account, Qualified Nonelective Contributions Account, Qualified Matching Contributions Account, and Rollover Account, plus the Member's vested interest in his or her Matching Contributions Account, as determined under section 6.2.

Examples of Vested Balance in a sentence

• The Committee shall determine, in its sole discretion, whether the requested payout shall be made, the amount of the payout and the Plan Accounts from which the payout will be made; provided, however, that the payout shall not exceed the lesser of the Participant’s Aggregate Vested Balance or the amount reasonably needed to satisfy the Unforeseeable Emergency plus amounts necessary to pay taxes reasonably anticipated as a result of the distribution.

• Notwithstanding any Distribution Election under Article 5, a Participant suffering a Disability shall receive a Disability Benefit equal to his or her Aggregate Vested Balance.

• Furthermore, no such amendment may decrease the Vested Balance of a Participant, nor may it eliminate or reduce an Early Retirement benefit, nor may it eliminate a Protected Benefit.

• Subject to Article 5, a Participant's Beneficiary shall receive a Survivor Benefit equal to the Participant's Aggregate Vested Balance, if the Participant dies before he or she has received a complete distribution of his or her Aggregate Vested Benefit.

• If the vesting schedule of the Plan is amended, or the Plan is amended in any way that directly or indirectly affects the computation of the vested interest of Participants (or if the Plan is deemed amended by an automatic change to or from a Top-Heavy vesting schedule), each Participant with at least three (3) Years of Service with the Employer may elect, within a reasonable period after the adoption of the amendment, to have his Vested Balance computed under the Plan without regard to such amendment.

More Definitions of Vested Balance

Vested Balance of a Participant's Company Matching Account means that percentage of such account which is nonforfeitable pursuant to the provisions of Section 8.2. The "Nonvested Balance" of such account shall mean that percentage which is forfeitable pursuant to the provisions of Section 8.3.

Vested Balance of any Participant's Company Matching Account shall be a percentage of that account based upon the Participant's years of Vesting Service as set forth in the following schedule: Years of Vesting Service Percentage ------------------------ ---------- Fewer than 3 0% 3 20% 4 40% 5 60% 6 80% 7 or more 100%

Vested Balance means in relation to an Employee Member or a VC Employee Member on a particular date the number of Units or percentage of the balance of

Vested Balance means the portion of a Participant’s Account which is vested in accordance with Section 4.3.

Vested Balance means all contributions made by the member and

Vested Balance means the vested portion of a Participant’s Account.

Vested Balance of a Participant's accounts means the portion of such accounts which is nonforfeitable pursuant to the Provisions of Section 7.2. The "Nonvested Balance" of such accounts shall mean that percentage which is forfeitable pursuant to the provisions of Section 7.3.