Vested Retirement Account definition

Vested Retirement Account means the vested portion of a Participant’s Retirement Account.
Sample 1

Examples of Vested Retirement Account in a sentence

  • Prior to his or her commencement of participation, each Eligible Employee shall file a Retirement Election with the Administrator on such form as the Administrator shall prescribe specifying (i) whether the Participant’s Vested Retirement Account is to be paid in a lump sum or in substantially equal annual installments, and (ii) if installments are elected, the number of such installments (which shall not exceed 15).

  • Following a Participant’s Retirement, the balance in his or her Vested Retirement Account shall be distributed in accordance with his or her Retirement Election.

  • Vested Retirement Account contributions and earning thereon are available for withdrawal only at termination of employment.

  • An unforeseeable emergency withdrawal pursuant to this Section 12.01 shall be taken first from the Participant’s Vested Retirement Account to the extent thereof and then from the Participant’s Vested Specific-Year Account.

  • With respect to the Participant’s Retirement Election, the Distribution Election shall also specify at the time of such election (i) whether the Participant’s Vested Retirement Account is to be paid in a lump sum or in substantially equal annual installments, and (ii) if installments are elected, the number of such installments (which shall not exceed 15).

  • In the event the Participant has not specified the form of payment with respect to any Vested Retirement Account, such Vested Retirement Account shall be paid in a lump-sum on the Scheduled Distribution Date pursuant to the Retirement Election.

  • The Corporation agrees that, from and after the retirement of the Executive after reaching his Normal Retirement Age, the Corporation shall thereafter pay the Vested Retirement Account to the Executive as a Retirement Benefit according to the payout method the Executive selects.

  • If a Participant is deemed to be a “specified employee” within the meaning of Section 409A at the time of such Participant’s Retirement, then, to the extent necessary to comply with Section 409A with respect to his or her Vested Retirement Account, distributions of such amount shall not be paid (or commence) earlier than the date that is at least six months following the date of such specified employee’s “separation from service” (as defined in Section 409A).

Related to Vested Retirement Account

  • 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.

  • 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)).

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • 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.

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

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

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

  • 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.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • 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.

  • Employee Account means any brokerage account or unit investment trust account in which the Van Kampen Employee has any direct or indirect beneficial ownership.

  • 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.

  • 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.

  • 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.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

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

  • 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.

  • Active Account means an individual investment account in the Plan with a balance greater than $0.

  • Qualified Retirement means the Participant’s voluntary termination of Service after reaching age 65 and completing 10 years of service with the Company, its Subsidiaries or predecessors.

  • 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.

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • 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.

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Retirement fund means the "Washington law enforcement

  • Inactive Account means a trader’s Account which had Client-Initiated activity and subsequently it remained inactive for a period of 90 days.